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May 14, 2008

Listing of the Day: Oakdale house on its own island

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Did you ever wish you had your own little island to escape to? Well, for $2.250 million, dreams can come true. And right in Oakdale. This 4,800-square-foot Colonial, which was part of the original William K. Vanderbilt Estate, Idle Hour, is accessible from a private wooden bridge.

To set the mood, once across the bridge a 10,000-gallon koi pond with a waterfall comes into view.

Set on almost a half acre, the house — believed to have been built as a two-room honeymoon cottage for William’s daughter, Consuelo, now has 10 rooms — some with high ceilings with mahogany moldings. The modern kitchen has cherry wood floors and cabinets, granite countertops and backsplash, a prep sink and wine racks. There’s also an adjoining breakfast room.

The house has six bedrooms, three bathrooms, two fireplaces, skylights, and even a central vacuum system. Outside, the multi-level Trex deck spans more than 1,600 square feet. And not surprising, fabulous waterviews are visible inside and out.

Other amenities include about 777 feet of bulk head, docks and boat slip. Taxes are $17,551. Michael Schneider of Charles Rutenberg Realty is handling the sale.

Cornelia Guest's Old Westbury home in Hampton Style

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Hampton Style magazine’s current issue ventures west to the North Shore of Long Island with a feature on actress Cornelia Guest at her Old Westbury ancestral estate, Templeton. The home is full of remnants of a privileged and glamorous past, from equestrian trophies to priceless paintings by Salvador Dali and John Singer Sargent.

Guest, once dubbed the Debutante of the Decade by family friend Andy Warhol, is the daughter of Phipps heir Winston Guest and his wife, society doyenne C.Z. Guest. She recalls a string of notables who have visited there: "I remember the Duke and Duchess of Windsor coming all the time…for the weekend. Truman Capote was always here, Dr. Christiaan Barnard…Yves Saint Laurent and Pierre Bergé. Prince Edward. The Kennedys. Halston. Oscar de la Renta had a permanent room here…Nureyev would come to stay; he'd be practicing ballet up in his room, and you'd hear him, through the ceiling, jumping up and down on the floor. Just a huge mix of people," Guest tells Hampton Style.

As REAL LI reported last month, Templeton is now for sale, listed at $20 million with Wendy Grant of Daniel Gale Sotheby’s International Realty. Guest tells the magazine, “I had a wonderful life here. The worst part about leaving this house is the dog cemetery; every dog I've ever owned is buried up there. That's sad for me, but I want the house to be open, the rooms to be used. People need to move on."

Bumble Bee Manor price lowered to $21.9 million

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The new buzz on Shelter Island's Bumble Bee Manor is a drastic price reduction from $35 million to $21.9 million.

The 3.25-acre estate is a co-exclusive between Andrea Ackerman of Prudential Douglas Elliman and Harald Grant and Ingrid Brownyard of Sotheby’s International Realty. Built in 2005, the gated estate overlooks Coecles Harbor with 325 feet of open, expansive waterfront. The 10,000-square-foot cedar-shingle style main house has 16 rooms, a banquet-sized dining room and an elevator, office, fitness room and media room.

Ackerman says that in addition to the estate’s own deepwater dock that will accomodate a yacht, there is also a nearby association dock that can hold any overflow of boats when guests come to party. There’s a three-bedroom guest house, a Caribbean-style poolhouse with a glass cupola and an infinity pool that looks as if it disappears into the harbor.

Bumble Bee Manor first went on the market in 2006. Shelter Island's Shorewood Manor recently sold for $12.4 million after a drastic price reduction from $33 million to $22.4 million.

May 13, 2008

Listing of the Day: Point Lookout Tuscan Victorian

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In the market for a home near the beach? This 14-room Tuscan Victorian in Point Lookout is three-quarters of a block from the ocean. Designed with pillars and wraparound porches, the house appears to be able to handle mother nature’s wrath -- it was constructed to withstand 185-mph winds. And it’s said the tin roof never has to be redone.

In 1999, one year after the house was built, it earned the Concrete Industry Board’s Award of Merit — a testimony to fine workmanship. (www.cibofnyc.org/index.html).

The interior is outfitted with decorative moldings, solid oak doors and 16-zone radiant heat. The living room has a 16-foot ceiling with custom beams and oak molding. This room also dons a new custom stone fireplace and antique glass windows.

The designer kitchen has two dishwashers, three ovens and two stoves, including one imported from France. The layout also includes a guest room, a library, a home office, a family room, an exercise room and a rooftop deck. There are four and a half bathrooms and four bedrooms, plus a master suite with a fireplace.

Paul Gomez of Point Realty in Point Lookout is handling the sale of the house, which is listed at $2.499 million. Taxes are $30,000 a year.

May 8, 2008

Listing of the Day: Great Neck mansion with gold ceiling

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When the owners purchased this 1926 Colonial in Great Neck Estates in 1993, the house was tiny, says Trudy Elliott of June Shapiro Fine Homes and Estates in Great Neck. Leaving the original structure, the house -- now a brick and stone Tudor -- was gutted and expanded to 5,149 square feet. And that doesn’t include the basement, where there’s a home theater with about a dozen large leather seats. And there's a wine cellar that accommodates 1,000 bottles -- with a 24-carat gold ceiling.

Other fun features include a ceramic floor with copper inserts in the entrance foyer, a hand-stenciled concrete driveway that looks like brick, surround sound, an indoor chorine-free pool with a whirlpool, a sauna and a steam shower. There are six bedrooms, six full baths, each with a Jacuzzi, and two half baths.

Resting on a square 111-by-110-foot parcel, the house is “built like a fortress,” says Elliott, who is co-listing the property for $4.3 million with Svelana Levitin.

May 6, 2008

Kathleen Turner again lowers price of Amagansett home

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Actress Kathleen Turner has once again lowered the price of her home on Bluff Road in Amagansett, listed with Rachel Thompson of Prudential Douglas Elliman.

In 2005, after splitting with her husband Jay Weiss, Turner put the home on the market for a reported $8 million, later taking it off the market and renovating it. Last year Turner again listed the six-bedroom home for $6.9 million. In January, REAL LI reported another price drop to $6.25 million.

The Prudential Elliman Web site now shows that Turner has lowered her price yet again to $5.9 million. Records show that the Oscar-nominated actress paid $488,500 for the home in 1990.

The 5,000-square-foot home was built in 1903 and overlooks a 25-acre preserve.

Dan's Papers recently reported that the house will be sold during the divorce proceedings.

Thompson could not be reached for comment.

American art auction features Peconic artist

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Looking for something to grace the walls of your North Fork home? For an estimated bid of $80,000 to $120,000, you might be able to snag “The Dock,” a circa-1927 oil painting by Irving Ramsey Wiles, created at “The Mooring,” his summer home and studio in Indian Neck, Peconic.

Wiles summered at the home from 1895 on, and many of his paintings took inspiration from the scenery there. This work depicts the artist’s daughter Gladys on the family dock overlooking Peconic Bay, with Shelter Island in the distance. The painting is part of Doyle New York’s American Art Auction on May 20.

Sources: Sean Hannity closes on Centre Island estate

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News Corporation chief executive Rupert Murdoch may have a new neighbor to carpool to work with. The house that conservative talk show host and Murdoch employee Sean Hannity was trying to buy has officially closed, real estate sources says. The 16-room mansion on Centre Island closed Wednesday. Hannity paid $8.5 million.

The Hampton-style mansion was purchased from a trust set up after a transfer of the property from Deborah Dolan, ex-wife of Cablevision’s James Dolan.

The home was listed with Peggy McCormack of Daniel Gale Sotheby's International Realty. Regina Rogers of Prudential Douglas Elliman represented Hannity in the deal. Neither agent would comment.

The sale of this home proves that despite a real estate slowdown, homes will sell if the price is right, and Centre Island is no exception. The Hannity house had originally been listed at $13.5 million in 2006, then earlier this year was reduced to $10.5 million. Patricia Altschul’s Centre Island manse went into contract last year soon after a price reduction from $18.5 million to $15.8 million. It closed in March 2008 for $12.5 million to Londoner Colin Buffin. Murdoch also recently dropped the asking price for his nearby mansion from $14.8 million to $12.8 million.

One holdout in the pricing game is Billy Joel, whose Centre Island estate, Middlesea, has been on the market since 2006. It was originally listed at $37.5 million in 2006, with a price drop to $32.5 million in early 2007, but Joel has not reduced his asking price in more than a year now and the home remains unsold.

May 5, 2008

Oyster Bay's Northwood gets price reduction

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The asking price of the French Normandy-style estate in Oyster Bay known as Northwood has been reduced to $18 million. The 26-acre property is surrounded by a 114 acres of preserve. (Last year, Nassau County spent $11 million to save 33.5 acres of the property.)

The estate had been 900 acres about 100 years ago, when it was owned by banker Mortimer Schiff. He built a 120-room Tudor home on the property. His son, John, later replaced the mansion with the manor house there today.

"It is the most gorgeous piece of property," says Barbara Candee, who is listing Northwood with Margaret Trautmann on behalf of the Locust Valley office of Daniel Gale Sotheby's International Realty.

The current owners renovated the house two years ago. There are 10 bedrooms, 10 baths and two half bath, as well as a Tudor-style coach house, 12-stall stable, a tennis house, indoor/outdoor har-tru courts, a pool and trails.

On Wednesday, George Ballantyne, senior vice president of Sotheby's International Realty, will address about 100 Daniel Gale brokers at Northwood. The topic will be "Building a Quality Culture." Earlier in the day he will speak to about 60 brokers at another of the agency's listings -- this one in Brookville for an asking price of $5.2 million.

May 3, 2008

Source: Sean Hannity closes on Centre Island property

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Conservative talk show host Sean Hannity closed Wednesday on a house in Centre Island, a real estate source tells Newsday. He paid $8.5 million for the 6.2-acre property, the source says. He bought the 16-room home from a trust named “2002 JLD Childrens,” which was set up after a transfer of the property from Deborah Dolan, ex-wife of Cablevision chief executive James L. Dolan. The house had been listed for $13.5 million. Read more about the property here.

May 2, 2008

1921 Upper Brookville carriage house goes on market

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The history of this 1921 carriage house in Upper Brookville is foggy, but a lot is known about its renovations. That’s because current owner, businessman and entrepreneur Scott Miller, did an extensive makeover. Some original features, such as the front door and cupola topped by a peacock weather vane, were retained.

The asking price is $2.995 million. Annual taxes are $57,800.

The 6,500-square-foot house rests on 2.24 acres and has a courtyard entrance with a fountain. Inside, there are 11 rooms with Brazilian cherry wood floors, coffered ceilings and two fireplaces, including one in the custom cherry paneled library. There are six bedrooms and five and a half bathrooms.

There also is a detached three-car garage with an apartment above it, says Rita Pecora of Piping Rock Associates in Locust Valley.

The house once belonged to the late businessman Oakleigh L. Thorne and his late wife, Dorothy Thorne, who were both board members of the New York Botanical Garden

May 1, 2008

Former summer home of Vogue photog for sale

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The former Oyster Bay summer home of the late trend-setting Vogue photographer Horst P. Horst is on the market for $1.85 million. The one-story white house sits on five acres of what is left of Horst’s original 12 acres, purchased from the Tiffany estate for about $5,000 in the late 1940s. In a 1991 interview, Horst told The New York Times that he had sold an original Picasso painting to pay for the house.

Horst lived in the home until his death in 1999 at age 93. During his career, he photographed and partied with Salvador Dali, Noel Coward, Greta Garbo and Coco Chanel, all of whom visited him on Long Island. Hewas also responsible for many iconic advertising shots, some of which were taken in the garage at the home.

The house has four bedrooms, three baths and three fireplaces. Taxes are $18,052 per year.

David M. Haggerty and Angela Buzzerio of Daniel Gale Sotheby’s International Realty have the listing.

April 30, 2008

Shelter Island's Shorewood Manor sells for $12.4 million

The Shelter Island estate once owned by former Gov. Hugh Carey’s family topped the town sales record for the second time when the owner flipped it today for $12.4 million to a Swiss financier.

“I got a big smile on my face,” outgoing owner Chris Knight, a Queens-based real estate investor, said after the closing.

He set a local record early last year by paying $10 million for the 1892 Victorian mansion in disrepair and its 7.8 acres on the waterfront. Knight then quickly put it up on the market again for $33 million, a price that amazed locals but ultimately proved to be too high because Knight lowered it late last year to $22.4 million, after the subprime collapse shook an already-shaky real estate industry.

The Swiss businessman plans to use the house, known as Shorewood Manor, as his summer home and wants to restore the property to its former glory, according to his East Hampton-based attorney, Bill Fleming.

“We’re checking on its provenance,” Fleming said. “We have a historic consultant who’s going to research it.”

Centre Island's Southerly sold to British yachtsman

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Move over, the Brits are coming to Centre Island.

Last year when Patricia Altschul’s estate Southerly went into contract, listing agent Barbara Candee of Daniel Gale Sotheby’s International Realty proclaimed the new owner to be a denizen of the United Kingdom and a “lover of boats.”

Although Candee would not comment further, REAL LI has confirmed the buyer is Londoner Colin Buffin and his wife Susan. Buffin is chief executive of Candover, one of Britain's largest private equity firms and a competitive yachtsman who was surely lured by the property’s deep water dock.

The deal closed March 20. The latest asking price had been $15.8 million. The home sold for $12.5 million. The 10-acre estate had been on the market since 2006.

Altschul was travelling and could not be reached for comment. She is the wife of the late banker and philanthropist Arthur Altschul. His daughter is CBS contributing correspondent Serena Altschul.

Now that Southerly has sold, maybe there is hope for neighbor and Newsday-wannabe-owner Rupert Murdoch, who is listing his nearby estate for sale at $12.8 million. Billy Joel is also still trying to sell Middlesea on the island for $32.5 million.

Montauk's Panoramic Luxury Villas on the market

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If you haven’t heard, Montauk's oceanfront getaway — the Panoramic View Hotel & Residence — is in its final season. The resort is in the process of being converted into luxury villas by Distinctive Ventures of Great Neck.

The new complex -- Panoramic Luxury Villas -- will have about 60 or so waterview villas ranging in size from 2,200 square feet to 4,300 square feet, with prices starting at $2.825 million. Amenities include 24/7 concierge service, an on-site caretaker, a fitness center, a beach attendant, an inground pool and more. These "smart" units will notify the staff if something is amiss -- say, for instance, heat isn't working properly.

And if an owner requires a helicopter or needs to have his or her bills paid while away, that can be arranged too, says Valerie Stone of Prudential Douglas Elliman Real Estate in Brookville, who is handling sales with Barbara Brundige.

Currently the villas are being treated as "condops," meaning they are structured like a cooperative but have the rules and regulations of a condominium. However, in October they will begin the process to convert to condominiums. Rentals will also be available.

Interested in a seasonal rental this summer? A two-bedroom unit can be fetched for $100,000, while larger units are going for $145,000 and $165,000, Stone said.

Shelter Island's Shorewood Manor closes this morning

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The Shelter Island property that once belonged to the family of former Gov. High Carey will finally close today, says owner Chris Knight. The asking price is $22.4 million. The buyer, says Knight, is a man from Switzerland "who is going to be completely restoring it" to "better than its original splendor."

April 29, 2008

Tiger Woods: Southampton purchase is 'a rumor'

Tiger Woods appeared on television's Extra yesterday, where he denied reports that he purchased that $60 million Gin Lane home. "I did not purchase a house in the Hamptons...that's a rumor," Woods told the reporter.

The Point in Westhampton listed at $20 million

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It’s hard to imagine what you could ask for that “The Point” in Westhampton does not already offer. This newly constructed 11,500-square-foot, cedar-shingle Nantucket-style home sits on 2.2 acres with 180-degree views overlooking Moriches Bay, the inlet and the ocean beyond.

The second floor of the home includes a master suite with its own office, fireplace and captain’s deck and three guest suites, each with private baths and terraces. An elevator opens to both the master and guest suites. The property also includes a two-bedroom guest house, a heated pool, cabana with full bath and wet bar, 380 feet of bulkheading, a boardwalk and a deep water dock.

But see the place at your own risk: Listing agent Lynn November of Prudential Douglas Elliman Real Estate says that visitors should “prepare to be overwhelmed by the combination of breathtaking waterviews, gracious elegance, and sweeping grounds of a timeless treasure." The price for the home is equally impressive at $20 million.

For photos of The Point as it was being built, see here.

April 28, 2008

Corcoran Cares fund-raiser held in Southampton

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Agents and employees of The Corcoran Group kicked off the company’s annual Corcoran Cares Charity fund-raiser in Southampton last week.

The event was held at a six-bedroom, 7-½-bath Federal-style home on North Main Street, which incidentally, is on the market for $6.995 million, listed with Corcoran’s Roger Blaugh and Michael Forestano. The home sits on 1.2 acres with ocean views, a two-story, 1,700-square-foot poolhouse, seven fireplaces and a Gunite pool with integral spa.

During the 2007-2008 fiscal year, Corcoran Cares will distribute more than $33,000 to six East End charities, including The Retreat, East End Hospice, Have A Heart Community Trust, Peconic Bay Keeper, The Southampton Hospital Foundation and ARF (Animal Rescue Foundation).

Copper thieves hit Isaac Mizrahi's Hamptons home

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Copper thieves had designs on Isaac Mizrahi’s Bridgehampton home, according to a report in the East Hampton Star. The style icon filed a complaint with Southampton police last week that at least 60 feet of copper leaders were removed from his home on Oak Street.

The newspaper reports that a string of similar robberies have taken place recently in the Hamptons. With copper selling at about $4 per pound, the material is presumably being sold for scrap.

Public records show that Mizrahi purchased his three-bedroom, three-bath Colonial home in 1997 for $485,000. Today it is worth just over $2 million.

Photo eonline.com

April 23, 2008

Listing of the Day: Remsenburg English tudor manorhouse

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This English tudor manorhouse in Remsenburg belongs to Norman Leavitt, who moved there with his longtime partner, the late Evan Picone chief designer Frank Smith, in 1973. Leavitt, an antiques dealer known for his volunteer work at East End Hospice, is selling the house.

Now living in a retirement community, Leavitt is asking $6.95 million for the 7,000-square-foot house. The asking price includes 13.7 acres of property, which includes a pond and formal gardens. (With an additional 3/4-acre lot, the price is $7.7 million.) The property can be subdivided.

Annual taxes are $21,014 ($16,968 without the extra lot).

The stone and brick house was built by the EW Howell Co. in 1934. There are seven bedrooms, five baths and two half-baths, as well as seven fireplaces and a three-car garage. There are also some rather unusual finds. In addition to silver chandeliers and sconces, the house has a complete pipe organ that is behind a wall Leavitt and Smith built to cover it. The house even includes a fur vault.

"It's just so unusual for this part of Long Island, with its heavy slate roof and beautiful heavy, thick oak woodwork," says Meredith Murray, who is co-listing the property with Thomas Mangel, both from The Corcoran Group's Westhampton Beach office. "I have lived here all my life, and I didn't even know this house existed. It's got a screen of tall cedars. When I first went to see it, I thought I was in fantasyland."

April 18, 2008

Cornelia Guest selling Old Westbury estate for $20 million

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Heiress, actress and socialite Cornelia Guest has put her 15-acre Old Westbury estate on the market for $20 million. Public records show that the property includes a two-story brick Colonial home built in 1924, with 9 ½ baths and 5 fireplaces. The grounds include a pool, tennis courts, and a greenhouse. The home is listed with Wendy Grant of Daniel Gale Sotheby’s International Realty.

Guest is the daugther of the legendary garden writer, equestrian and society doyenne, C.Z. Guest, who died in 2003. The family moved to Old Westbury in 1968, after selling 150 acres in Brookville that is now the De Seversky Center of the New York Institute of Technology.

Guest became famous in the 1980s as the blueblooded beauty who was dubbed “debutante of the decade” by Andy Warhol, once dated Sylvester Stallone, and was a regular at Studio 54, along with friends-relatives, Richard and Robert DuPont. She is also related to Winston Churchill, who was her father’s cousin.

These days, Guest has become better known for her philanthropic and fund-raising efforts in support of causes like the Humane Society of New York.

A Hamptons villa for sale near 'Sex and the City' star

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This brand-new Mediterranean-style home in East Hampton recently went on the market for $1.995 million. The 4,000-square-foot has four bedrooms and five baths, a professional kitchen with granite countertops, radiant heat floors, three fireplaces and 20-foot cathedral ceilings. The half-acre property has a heated gunite pool with a bluestone terrace, a waterfall, a barbecue and outdoor fireplace and a separate pool house with a basement. The property also has its own boat slip of up to 40 foot.

The house was built by Ricardo Guichay.

"It's the only mediterranean available in East Hampton," says listing agent Hara Kang with the East Hampton office of Prudential Douglas Elliman Real Estate.

Whoever buys the house will say they are neighbors with "Sex and the City" star Kim Cattrall,
soccer legend Pele and actress Mercedes Ruehl.

Kips Bay chair buys and sells in East Hampton

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The 36th Annual Kips Bay Decorator Show House opens soon and it’s a good thing, as show house committee chair Patricia Carey may be looking for some ideas to decorate her new Hamptons home.

Public records show that Carey and husband, W. Ward Carey, recently bought a home on Fieldview Lane in East Hampton for $3.2 million after selling their Dunemere Lane home in the same town for $6.335 million.

Carey has chaired the showhouse committee for many years, raising millions for the Kips Bay Boys & Girls Club, an organization that provides afterschool enrichment programs to 14,000 New York City children each year.

The 2008 Show House is located at 200 E 66th Street, and the event runs from April 24 to May 22. General admission is $30 per person.

Prudential Douglas Elliman’s Dolly Lenz is co-chairing the opening night gala on April 23.

Patricia and W. Ward Carey at the 2007 Kips Bay Show House gala. Photo: Panache Magazine

April 16, 2008

Cottage Living features Montauk gardens of Suzanne Koch Gosman

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The April 2008 issue of CottageLiving features the Montauk garden of Suzanne Koch Gosman, who died early this month after a long battle with cancer.

Gosman, who lived in Montauk for the past 40 years and was instrumental in the drive to construct the Montauk Library, lived in a home on a sloping one-acre lot “set down by the road…so that it lacks the ocean view it would have had atop the slope.” Gosman, the magazine says, “liked the way the house’s bulk screens the garden space.” She found the spot in the garden where the view was best, and inlaid a terrace into the hillside big enough for two Adirondack chairs, flanking the area with hydrangeas.

The magazine says that the aura of Gosman’s garden is “one of freedom and convenience, of a place lived in rather than admired from the paths.” Her favorite plants were yellow-flowered butterfly bush, green-flowered hydrangeas bush clover, and highbush blueberry.

A special feature of her garden is a handcrafted rustic garden gate, fashioned from branch cuttings by a guest to pay for his board. “This was the work of a houseguest,” the magazine says, “houseguests come with a Montauk address.”

April 15, 2008

Kelsey Grammer takes Bridgehampton house off market

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Kelsey Grammer's 7,500-square-foot house in Bridgehampton is off the market. Back in March, the "Back to You" actor reduced the price to $15.6 million. Read more about the house here.

April 14, 2008

Could Sean Hannity be buying in Centre Island?

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Conservative talk show host and Long Island native Sean Hannity is in contract to purchase a 16-room Centre Island Colonial mansion, real estate sources tell RealLI. The home is currently listed under a trust named “2002 JLD Childrens,” which was set up after a transfer of the property from Deborah Dolan, ex-wife of Cablevision chief executive James L. Dolan.

Hannity, who grew up in Franklin Square and delivered Newsday as a boy, now lives in Lloyd Harbor. The new home in Centre Island is not far from one that his Fox News boss, Rupert Murdoch, has on the market for $12.8 million. Billy Joel is also trying to sell his mansion, which has an asking price of $32.5 million.

The Hampton-style house was built in 2005, and includes seven bedrooms, 7 1/2 baths, seven fireplaces, lighted tennis courts and a gunite pool. The property sits on 6.22 acres and includes 500 feet of water frontage. The taxes are $94,526 per year. The home is listed with Peggy McCormack of Daniel Gale Sotheby's International Realty.

The latest listing price is $10.5 million.

Hannity's publicist declined to comment. McCormick and Regina Rogers of Prudential Douglas Elliman Real Estate, who is supposedly representing Hannity in the deal, could not be reached for comment.

In the meantime, the NY Radio message board is abuzz that Hannity might be leaving ABC Radio in the next 60 days. "He apparently is building a home studio and may do the show from there via a different syndicator such as Fox," according to a post. That studio is being built at the Centre Island home, a real estate source tells RealLI. "He is supposed to close in about a week and a half, but isn't going to move in until he builds a studio on the property," the source says.

April 12, 2008

Aretha Franklin moving to Hamptons this summer

The New York Post reports today that Aretha Franklin has rented a place in Westhampton "for two weeks in July."

April 11, 2008

Southampton's Old Trees reportedly sold and then flipped

The Old Trees saga continues…

As RealLI reported last week, the 10-acre Southampton estate that had been on the market since 2006 finally sold two weeks ago for $39.25 million. The asking price was $48 million.

The buyer and seller of the property, as revealed last week in the The Palm Beach Daily News, were financier Donald Burns, who sold Old Trees to Harlem real estate developer Rodney Propp.

The plot thickened this week when the New York Post and The Wall Street Journal provided further details on who might actually be putting out the welcome mat at Old Trees this summer. Both papers report that shortly after purchasing the estate, Propp flipped the property to hedge fund manager John Paulson. The Journal says that Paulson paid $41.3 million.

When RealLI asked Don Burns for a comment on the sale, Burns declined to name his buyer, but said, “I know the identity of the current owner, and I have a sense that his family is an excellent match for this one-of-a-kind home.”

Incidentally, as RealLI has reported, Propp’s Bridgehampton home is currently on the market with Susan Breitenbach of the Corcoran Group for just under $14 million. The Journal reports that Prudential’s Michael Shaheen is now listing Paulson’s Southampton home. The asking price $19.5 million.

So if Propp sold off Old Trees quickly and is also selling his Bridgehampton home, inquiring minds want to know if he’s already got another home lined up in the Hamptons. A source tells RealLI that he just may be the person who purchased that $60 million Gin Lane home that last month was rumored to have gone to Tiger Woods. Propp did not return calls for comment, so we’ll have to wait and see.

See more photos of 50 Cent's house

50 Cent's Dix Hills house
50 Cent's Dix Hills house

Here are some from the original listing for the house, which 50 Cent bought in 2007.

April 9, 2008

What will 50 Cent do with this Dix Hills house?

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50 Cent's ex and their 10-year-old son have to be out of the rapper’s Dix Hills house by April 30, says his Manhattan attorney Brett Kimmel. In the meantime, Shaniqua Tompkins has filed suit in Supreme Court in Manhattan alleging “breach of contract.”

Tompkins says that 50 Cent promised to put all or part of the house in her name. Instead, the 5,200-square-foot house is in his name — Curtis Jackson. He bought the house in January 2007 for $1.4 million. Taxes are $16,815 a year. “It’s a very big home,” says Paul Catsandonis, Tompkins’ attorney. And, he adds, 50 Cent “was planning to live in that house ... as a family.”

The home is located on an acre and has six bedrooms and five bathrooms, as well as a three-car heated garage with a dumbwaiter to the kitchen. The house, built in 2002, also has a pool. The previous owner, builder Robert Defeo, built the house for himself and his family.

Once Tompkins and son are out of the house, it is unclear what 50 Cent will do with the property, Kimmel says. In the meantime, Catsandonis says, Tompkins plans to appeal the eviction. "I think it's preposterous to view your son as a trespasser -- a minor at that," Catsandonis says.

Read more about the house -- and the fight -- here.

Newsday photo / Thomas A. Ferrara

April 8, 2008

Psychic healer's Montauk estate listed for $35 million

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If you’re looking to stake your claim in Montauk, check out this 35-acre estate with 400 feet of ocean frontage. For $35 million, you get all that property and a 7,000-square-foot contemporay home built in 1994. The house has five bedrooms, five baths and 16-foot ceilings in the living and dining rooms, walls of glass offering ocean views and 3,500 square feet of mahogany decking.

Public records show that the current owners are Eli Wilner and Barbara Brennan, who purchased the property in 1992.

He is founder of Eli Wilner & Company, a Manhattan gallery specializing in American and European antique frames. His company works with major museums and auction houses and has done reframing projects in the White House.

She is a former NASA physicist turned psychic healer who founded the Barbara Brennan School of Healing in East Hampton, now located in Boca Raton, Fla. Her best-selling book, “Hands of Light” popularized the study of human energy fields, or auras.

John Golden of Prudential Douglas Elliman has the listing.