Now Playing

Plot of Gold

by Camille Hunt | Beach magazine | January 13, 2014

As the year comes to a close, Hamptons broker Tim Davis facilitates a $75 million deal on a historic Southampton property.

It didn’t take long for buyers to snap up one of the priciest pieces of property in Hamptons history. Despite its seven-figure price tag, the 113-year-old Wooldon Manor, at 16 Gin Lane in Southampton, went into contract after only three months, which Beach’s “The Real Deal” column reported in early October.

Back in July, shoe powerhouse Vince Camuto and his former beauty queen wife, Louise, listed their historic estate for a cool $48 million. But when the deal was inked, the property actually sold for $75 million—$27 million more than the listing price—according to reports in the Wall Street Journal. Corcoran Group’s Tim Davis was not only the co-listing broker for the property, but also represented the purchaser, an unnamed New York couple, as well.

The reason for the price spike? The final sale price included additional property, bringing the total amount of land to 14 acres. The 10,000-square-foot mansion has more than 500 feet of ocean frontage and views of Lake Agawam. The estate—which boasts a gorgeous pool and pool house, formal gardens, a green house and tennis court—was previously owned by both the Woolworth family and Edmund Lynch, a founding partner of Merrill Lynch. Though it has been expanded and added upon by residents, the exterior and style of the home has remained constant for over a century, making it one of the gems of the East End.

Despite its impressive presence, the manse is actually the pool house of the original 58-room Wooldon Manor, which was demolished in 1941. At $75 million, the current house is believed, however, to be one of the most expensive properties ever sold in the Hamptons; second only to a $108 million land purchase in East Hampton in 2008.