When billionaire Marc Rowan sold his 322 Meadow Lane home in the Hamptons at the beginning of this year for $28.5 million, he left the most expensive street in this part of the East End.
Southampton’ Meadow Lane is quite famous for attracting high-profile residents, mostly Wall Street financiers but celebrities as well, all looking for a posh place to cool off during the summer. So far, they have paid enough for Meadow Lane waterfront homes to make the median sale price a whopping $17.6 million! And, according to Curbed Magazine, the trend doesn’t seem to be slowing down.
Which are the Hamptons’ other ritziest streets? Using median sale price data available on PropertyShark, we have put together a top-10 list of the priciest streets in this area, and, as expected, these are mostly oceanfront strips.
The second most expensive street in the Hamptons is Ocean Road with a median sale price of $8.6 million. Sagaponack has the next two streets in our top-10 by median sale price–Parsonage Lane ($7.7 million) and Daniels Lane ($6.5 million).
For a view of the entire Hamptons area with the most expensive streets highlighted, check out our new map*:
Although the biggest home sale in the Hamptons was in Southampton, East Hampton can also boast some important deals closed this year, such as the 3.5-acre estate at 174 Further Lane which was sold in March for $28 million. The third biggest home sale in the Hamptons is 43 Surfside Drive, Bridgehampton sold in April for $27.5 million after being bought in 2005 for half that price.
The fact that Southampton has been seeing stronger sales than East Hampton can be explained through the larger number of oceanfront homes that are available in the area, according to Corcoran Group broker Gary DePersia.
Here’s the complete list of the most expensive streets in the Hamptons:
*Methodology: For creating our map and calculating median sale prices we took into account streets with 3 or more sales closed between January 2011 and August 2012.