The Wall Street Journal is reporting today that cosmetics tycoon Ronald Lauder has sold three acres in Sagaponack near the ocean and Wainscott Pond for $3.74 million. According to the paper, the property was originally part of a 20-acre plot; in 2005 Lauder sold 17 of those acres to the town of Southampton for $5 million so that the land would be preserved. Lauder was awaiting approval for subdivision of the last three acres before selling to a limited liability company.
The “Recorded Deeds” section of last week's East Hampton Star revealed the buyer of the Town Line Road property to be Abri Properties. The sale closed July 27.
Newsday Photo / John Paraskevas