This Waterfront Trophy property, with views across The Little Peconic Bay to Robins Island, Southold and Shelter Island boasting breathtaking Sunsets and offering a once-in-a-lifetime newly created and unique investment opportunity has just been exclusively listed for the first time and will not last. The existing three single and separate lots being offered as a package deal, totaling 1.40± a…
This Waterfront Trophy property, with views across The Little Peconic Bay to Robins Island, Southold and Shelter Island boasting breathtaking Sunsets and offering a once-in-a-lifetime newly created and unique investment opportunity has just been exclusively listed for the first time and will not last. The existing three single and separate lots being offered as a package deal, totaling 1.40± acres provide the discerning buyer with the proper canvas to create the Hamptons Compound they’ve always dreamed of to finally come to fruition.
Multiple potential outcomes, offering the flexibility to fit a variety of buyers’ needs in today’s market provides extraordinary value with the potential for substantial upside. This sanctum is located at the end of a private road with a boat ramp providing water access to moor your boat or to launch other water sports such as kayaks, paddle boards and jet skis in the unincorporated serene hamlet of Noyac. Either side of the property abuts a desirable waterfront community with Sunset Shores to the Southwest & Northampton Shores to the Northeast. The adjacent lot also to the Northeast boasts valuable pond views and provides a natural buffer between the neighbors which includes a non-disturbance buffer extending along the entire Northeast side of the property, eliminating the potential for development of any kind.
Bittersweet Ln lot breakdown for each property offered in this package: 32 (SW waterfront): 0.33± acres with 94± feet of bulkhead. Existing 2-story 2,200± SF 4-br/2-ba home with an attached 2-car garage and 16x32 inground pool. 28 (NE waterfront): 0.37± acres with 94± feet of bulkhead with views of adjacent pond. Existing 1.5-story 1,600± SF 4-br/1.5-ba summer cottage with room for a pool on the South side of the property. 24 (landward): 0.67± acres vacant land.
An Initial Zoning Analysis has been completed for the property and available by request. The most unique scenario this property has the potential to offer is for the buyer who has been longing for an opportunity to present itself, where they can build the trophy property they’ve been dreaming of to most likely remain in the family to be passed down for generations to come. As illustrated in the Initial Zoning Analysis, these three lots can potentially provide the canvas for a buyer to utilize the two waterfront lots by merging them together into one 0.70± acre lot with 187± feet of bulkhead and unobstructed Western views overlooking the bay and Northeast views of the adjacent pond. Merging the lots can provide the ability to build a 2-story main house with waterside pool that spans appx. 10,000± SF above grade boasting water views capable of capturing the sunset from nearly every room in the home, with the North wing offering pond views as well. The proposed footprint of the 5,400 SF house & porch can easily be designed to accommodate the seamless indoor/outdoor dining and entertaining experience most are looking for, with retractable glass doors in the main living area opening out to the 900 SF covered deck that provides a graceful transition out to the waterside infinity-edge pool, where there’s an additional 470 SF of uncovered deck to enjoy the sun. A modern home with walls of glass maximizing the most potential for both the square footage and views would more than likely work best with this setup, however your architect can certainly design a more traditional style home using this setup as well. The landward parcel provides room for tennis to be placed in the corner of the property furthest from the water with a legal single-family guest house. As legal living space, this structure can be used however the buyer would like, but one idea may be to utilize the main level with doors along the back that open out to the tennis court to be used as a recreation pavilion for entertaining or perhaps a state-of-the-art spa center including a gym, sauna, steam shower, hot-tub, yoga studio and massage room while utilizing the second floor to capture water views as a guest house fully equipped with kitchen, living room, and a few en-suite bedrooms with the lower level finished for either staff quarters or overflow guest accommodations.
Both of the existing homes are currently being lived in, so depending on the buyers needs, alternative options to live in and/or renovate the existing structures are possible. 32 may offer the buyer with a more turnkey option to live in temporarily while planning and securing approvals for the future house to be built. The landward parcel 24 that’s currently vacant can provide a relatively quick process to break ground to start building the guest house more immediately allowing you to keep a close eye on the progress while living in 32. When construction begins on the main home and you can no longer live in 32, construction can potentially already be finished or nearing completion for the guest house which will provide you the opportunity to move in here upon completion while watching the progress as construction on the main house is being completed.
Consistent high demand and limited inventory for waterfront properties in the Hamptons makes them one of the safest property investments available with an exceptionally high appreciation rate. Over time, a buyer may find alternative waterfront properties that offer some of the desirable characteristics that this property offers. However, they will be unlikely to find even one other property offering most of what puts this one into a caliber of its own. All these factors together create the perfect storm to safeguard your investment so that even as the market fluctuates and in the event that inventory is high at the time you decide to sell, there will be virtually no direct competition with your listing so with even only one buyer in the market for a property of this stature, they’ll be aware of the unlikelihood that an opportunity like this to come up again making them less likely to expect the discounted prices other properties are selling for.