Sagaponack Mansion
This 8,300-square-foot home sits on nearly 1.3 acres of land and was built in 2004. The owner has listed the Sagaponack property as a summer rental for several years and has rented to some celebrities – though Corcoran agent Robert Simonson, who has the listing, won’t say who.
Mr. Simonson says the owner makes updates to the property every year, changing everything from the landscaping to the pebbles in the driveway.
The two-story home’s basement was recently remodeled to include a large wine cellar that holds 5,000 bottles, a sauna and additional bedrooms. The basement also has a game room equipped with a ping-pong table, and a media room with theater seating.
The home has eight bedrooms and nine baths. There are four fireplaces, a two-car garage, infinity pool and guest suite. The home has floor-to-ceiling windows and glass doors with views of the Poxabogue Pond and surrounding farmland.
The contemporary home is full of artwork from 18th to 20th century artists. Mr. Simonson says the owner’s collection has grown over the past year, as he has added more artwork to the common areas of the home.
Mr. Simonson says renting the home during the summer is a great opportunity from an investment standpoint, because most of the home’s annual expenses are covered by the summertime rent.
The home rents for $500,000 from Memorial Day to Labor Day; rent for July alone is $160,000, or $400,000 for July and September.