Real LI

Lana DeGeorge Santorelli has sold her oceanfront home on Flying Point Beach in Water Mill for $8.9 million. The two-parcel property overlooks Mecox Bay, with a boardwalk to the beach. The home has three levels of decking, eight bedrooms and 5 ½ baths.

Santorelli is an author, poet and owner of The Lana Santorelli Gallery, an art exhibition space in Manhattan. She is married to Lenny Santorelli, founder of Complete Management Solutions, a global equity and fixed-income research distribution firm.

The buyer of the 1.1-acre spread is listed on property records as Flyingpointstar LLC. Sources indicate that the name behind that corporation is real estate developer David Edelstein, president of Tristar Capital, LLC. Among the projects that Edelstein’s company has been involved in are the Miracle Mile Shops at Planet Hollywood in Las Vegas, and the W South Beach Hotel and Residencesin Florida.

Jay Flagg of Prudential Douglas Elliman had the exclusive listing. Flagg, who brought both the buyer and the seller to the deal, says that the proerty had multiple bidders.

Other homeowners on Flying Point Road include comedian Mel Brooks and supermodel Christie Brinkley.

Alexa Ray Joel will perform next weekend at a benefit for Save Sag Harbor, a community organization working to keep chain stores from spoiling the historic character of the village. Joel, featured in a video interview on Hamptons.com, says, “I’ll always have a place in my heart for all of Long Island, but who am I kidding, I favor Sag Harbor …it’s the one place that hasn’t changed.”

Joel's parents own at least $100 million in Long Island real estate between them. Her mother is supermodel and real estate maven Christie Brinkley whose Bridgehampton estate, Tower Hill, is on the market for $30 million. Her father is musician Billy Joel, who recently purchased Roy Scheider’s Sagaponack home for almost $17 million and whose Centre Island estate had been on the market for the past year for $32.5 million. The listing expired this week, although his former listing agent says he'll still sell.