Hampton Mansions: Georgica Pond Homes For Sale (SLIDESHOW)

Four mansions on exclusive Georgica Pond in the Hamptons are on sale and are asking big bucks despite the recession.

The most recent addition to the market is a 25,000-square-foot estate on 5.5 acres that boasts 8 bedrooms, 11.5 baths, an indoor heated wave pool and a Turkish bath. The home, at 30 Wainscott Stone Highway, also includes an outdoor pool, tennis court and a 110-seat movie theater that is a replica of the famed Zeigfeld Theatre. Among its former renters are Madonna, Warren Beatty, Kevin Costner, Jay Z, Damon Dash and Jennifer Lopez.

According to real estate site StreetEasy, the home was put on the market on Friday for $19.995 million. It can also be rented for $200,000.

The property that has been for sale the longest is 81 Briar Patch Road. The mansion has been on and off the market for the past year, and most recently saw its price chopped by 1%, to $39.5 million.

Sotheby's first listed the 12,00-square-foot home for $40 million last April. It removed the listing in September for several weeks, according to StreetEasy, only to put it back on the market later in the fall at the same price. It then removed the listing, to put it back on in May 1% lower, although it isn't clear whether the cuts have gone deep enough. The home, which is next to a 16-acre meadow, boasts 18th century stone fireplaces, a walnut-paneled library, 30-foot ceilings in the living room and a separate 2- bedroom guest cottage.

Brown Harris Stevens has the listing of a 3.7-acre property on the east shore of Georgica pond. Facing west, it has more than 400 feet of water frontage, and boasts a four bedroom home designed by Peter Marino. The home is new, built in 1990, and includes a large living room, country kitchen and a master suite. It has been listed on the market for $27 million since November, 2008, according to StreetEasy.

Another property on the market is at 40 Laforest Lane. Unlike some of the other properties, it is near East Hampton Village, which could be a perk if you prefer not to be isolated in your estate, and choose to walk among the masses (albeit East Hampton masses) shopping at Calypso or Coach.

The home, which has been on the market since January for $13.5 million, boasts 250 feet of waterfront, a dock, waterside pool, and 5 bedrooms and 3 bathrooms.

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Four mansions on exclusive Georgica Pond in tony East Hampton, Long Island are now on the market. Could it be the recession that's forcing them to sell? The most recent addition is a 25,000-square-foot estate that boasts 8 bedrooms, 11.5 baths, an indoor heated wave pool and a 110-seat movie theater that is a replica of the Zeigfeld Theatre. Madonna, Warren Beatty, Kevin Costner, Jay Z, Damon Dash and Jennifer Lopez are among those who've rented the home, which is on the market for $19.995 million.

Comments

[ciantgock]

11:10 PM on 06/16/2009

that is the kind of house my 90 year old grandma would design in my nightmare. sprawling mess with no end of tasteless floral wallpaper that was vogue in the 50s, unimaginative square pool placed awkwardly besides the house that is a testament to how little thought went into designing this monstrosity for rich people with no taste.

[4evryoung]

07:27 PM on 06/16/2009

Let me get my checkbook.

[avocats]

05:36 PM on 06/16/2009

Who wrote this story? How is a house built in 1990 "new." The numbers don't make sense--1% reductions? 12,00?

[StopSexismNow]

05:13 PM on 06/16/2009

These are the kinds of homes owned by the folks fighting single payer healthcare in this country.

[PhilipTaylor]

05:23 PM on 06/16/2009

Yes and against a Judge adjusting your primary home's mortgage!

[denisew]

04:47 PM on 06/16/2009

We are all suffering in this economic climate.

We can take solace knowing none of us is alone in this, it has affected all economic classes.

This has been an equal opportunity debacle, hurting each and every American.

[PhilipTaylor]

05:26 PM on 06/16/2009

The TOP Wall Street Executives (Employees), that have NOT merged, all still have their JOBS as "CHIEF SKIMMERS of the PROFITS" with NO LIMITS by the Obama Team!

Not everyone is suffering! The EL1TES are using this Harvesting of the rest of us to "MAKE HAY!"

[angrymadliberal]

04:24 PM on 06/16/2009

Your house is worth $125,000 but you paid $250,000 don"t worry with "Mark-To-Market" Neutered you can say whatever you want to about your home value and no one can refute you!
Now when you go in for a loan, simply declare the house is worth $300,000 and along with your clean "ON-THE-BOOKS Balance Sheet" with no visible other debts means you get money from the FED at 1% interest or maybe less!
Why can"t this world be true for ALL AMERICANS like it is for Wall Street?
We do not own Congress and they DO using ill-gotten FUNDS!
Are the Wall Street Banks really healthy? With "OFF-THE-BOOKS" accounting and "MARK-TO-MARKET" Neutered who knows what the truth is!

good articles for a slow news day: href=".http://www.bit.ly/12NCJR>Econ & Finance Articles Updated Daily

[PhilipTaylor]

04:26 PM on 06/16/2009

Look at revisions for the Wealthy Below!

[PhilipTaylor]

04:19 PM on 06/16/2009

Here is how the BIG BANKS DO IT:

Let's have "OFF-THE-BOOKS" Accounting for ALL Americans - ENRON STYLE like the Wall Street Banks get:

1. Have a car payment - don"t worry put it "OFF-THE-BOOKS" to hide it when you go to the Bank for a loan.

2. Have a Second Mortgage - put it "OFF-THE-BOOKS" to hide it when you go to the Bank.

3. Have some Credit Card Debt - Simple, put it "OFF-THE-BOOKS" to hide it when you go to the Bank.

4. Have some student loans - don"t worry put them "OFF-THE-BOOKS"

Also, like Banks can do lets allow All Americans to ignore "MARK-TO-MARKET!"

Your house is worth $125,000 but you paid $250,000 don"t worry with "Mark-To-Market" Neutered you can say whatever you want to about your home value and no one can refute you!

Now when you go in for a loan, simply declare the house is worth $300,000 and along with your clean "ON-THE-BOOKS Balance Sheet" with no visible other debts means you get money from the FED at 1% interest or maybe less!

Why can"t this world be true for ALL AMERICANS like it is for Wall Street?

We do not own Congress and they DO using ill-gotten FUNDS!

Are the Wall Street Banks really healthy? With "OFF-THE-BOOKS" accounting and "MARK-TO-MARKET" Neutered who knows what the truth is!

Zombie or Otherwise?

[PhilipTaylor]

04:21 PM on 06/16/2009

Take the numbers up a few notches and it works:

Have a house worth $12 Million but you paid $26 Million - NO Problem!

Simply, use the fact "Mark-to-Market" has been Neutered and claim the home is worth $35 Million!

[PhilipTaylor]

04:22 PM on 06/16/2009

Also hide your other 14 house mortgages around the world "OFF-THE-BOOKS" as the Wall Street Banks do with their bad debts!

[PhilipTaylor]

04:25 PM on 06/16/2009

Of course those in America you can get a Judge to write down the Mortgages on your 2nd to 22nd home because they are NOT your primary residence!

Politicians and Banks only believes in TRAPS for Main Street Americans, NOT the RICH!

[GerryS]

03:16 PM on 06/16/2009

slums, all of them--------------

[GlenRast]

03:07 PM on 06/16/2009

What nauseates me is a lot of these same aholes are always whining that the Army Corps of Engineers should be spending 10s of millions of taxpayer dollars to maintain their exclusive beaches and make sure their property doesn't go under water during a large storm.

[phylliscooper1]

02:49 PM on 06/16/2009

These pictures make me love my little house all the more. I am thankful every day that I have a home to live in. I could not afford the pool maintenance and yard work for one of these estates plus my furniture would only fill one side of the entry foyer. No thanks.

[Quattro]

02:39 PM on 06/16/2009

I just bought the house. Paid in cash too. Added a jacuzzi in the living room. In fact that's where I'm sitting writing this comment. I really pity you small people who were left out on the tarp bailout.

[bookon]

08:10 PM on 06/16/2009

I had a friend who put a hot tub in his living room where the couch should be. It leaked. It was in an apartment... On the third floor.

[Skyhawk]

02:22 PM on 06/16/2009

I just need to build my bat cave underneath and I'm all set.

[5hy56]

02:20 PM on 06/16/2009

Take back the trillions of $$$ given to the banks, who just sit on it and make it totally ineffective then start government incentive to create realistic industries that give employment and generate real productive income, some of which would hopefully be from exports.

Every other country, especially China and most of Europe have goverment incentives to protect it's industries. No matter what you call it it's a form of protectionism and its inevitable. We should stop being naive and take care of our own house. The only ones who win if we don't are the multinational corporations who don't care where they get their hand out.

good articles for a slow news day: href=".http://www.bit.ly/12NCJR>Econ & Finance Articles Updated Daily

[davidwayneosedach]

02:02 PM on 06/16/2009

Even if I won the Mega Millions lottery for a hundred million I wouldn't want to live there.

[swan1]

12:44 PM on 06/16/2009

I love my house. It is not a mansion, but it is beautiful, and we can pay the mortgage.