A seven-bedroom, 10-bath traditional home on three acres in Sagaponack closed yesterday for $12.5 million. The asking price was $13.95 million. The 8,400-square-foot home has an ocean view, as well as a heated gunite pool, covered porches with an outdoor fireplace, and tennis and basketball courts. Built by Michael Davis, the interior features custom-designed stonework and mahogany detailing. There is a gym, a sauna and a wine cellar.
Public records show the house belongs to financier Paul Scharfer and his wife, Joyce.
The listing agent was Susan Breitenbach of The Corcoran Group.