The Town of Southampton has purchased 86 acres of wooded property in East Quogue from a developer for $5.1 million, the largest land buy on the East End in more than a decade and a strategic parcel for groundwater protection, says the agent representing the sale.
Officials from the company, Lar-Sal Realty Corp., decided to sell the property after evaluating the cost of development, and had received a few offers before there was interest from the town, says Scott Strough, an agent with Compass who, along with Christian Lipp, brokered the deal. The purchase was funded through the Town of Southampton’s Community Preservation Fund, which is financed through property transfer tax revenues.
The fund has preserved more than 3,000 acres since its creation in 1999, according to its website.
“Over the course of a number of meetings, we were able to strike a deal,” Strough says, noting it was the largest piece the fund has acquired in 10 years.
The property sits within the Town of Southampton Aquifer Protection Overlay District as well as the Suffolk Special Groundwater Protection Area.
The land “offers a tremendous amount of land for groundwater protection and aquifer protection,” Strough says.