Less Than a Mile From the Ocean -Handy Lane, Amagansett

Amagansett has emerged as one of THE hottest spots to buy in the past few years, especially among the Wall Street crowd. More specifically, the Lanes in Amagansett is where all the action is happening, or should we say was happening? There isn't much real estate located south of the highway, so now we've gotten to a point where the inventory of new homes is incredibly scarce, and you'll be hard pressed to find even half an acre of land/tear-down for less than $4,000,000.

On Handy Lane there is a brand new subdivision that is now available for sale; a total of 7 lots ranging in size from .49+/- to .83+/- acres. The distance to the ocean? Less than a mile. You can find this subdivision south of the highway near the eastern border of Amagansett. It's a fantastic and much more affordable alternative to the Lanes. The entire subdivision is currently available to purchase for $11,900,000 and one of the lots is also available separately for $1,895,000 (Lot 1 Handy Lane East - See Survey Below). Each lot can accommodate over 4200+/- SF plus a finished basement, pool house, and pool; basically what you can get in the Lanes as the zoning is the same.

This is a fantastic and rare opportunity to develop an entire subdivision in this area and the values make sense. In the Lanes new constructions on similar pieces of land have sold quickly between $6,000,000-$8,000,000. Lots of potential return here!