Real LI

Tyndal Point, the 55-acre waterfront estate in North Haven that went on the market in early 2007 for $80 million, has just seen a price reduction to $49.9 million. The property is co-listed by Scott Strough of Strough Associates and Gary DePersia of The Corcoran Group.

Strough tells REAL LI that since the price reduction was announced the property has had significant interest from potential buyers, both in the financial and celebrity worlds. "We've been contacted by high-profile players from all points of interest in the country," he says.

There is a subdivision plan that would divide the land into three estate parcels of two lots each, but Strough says that the interest has been in the property as a whole. The land stretches across 3,000 feet of beachfront, with views of Shelter Island, Sag Harbor and Northwest Harbor. There are also two deepwater docks.

The owner of Tyndal Point is former Baldwin resident and retired lawyer Robert Rust, who inherited the property from his aunt. In 2008, Rust temporarily pulled the property off the market, re-listing it a few months later for $75 million. He said that his aunt had paid about $200,000 for the land more than 50 years ago.

LAURA MANN

Lisa Kerkorian has a buyer for her Bridgehampton barn-style home, which is listed as “in contract” on The Corcoran Group’s Web site. The 10,000-square-foot, six-bedroom home had been on and off the market for a few years. The original price was $16.3 million; it was listed most recently for $7.995 million.

New York Magazine reports that the selling price may be closer to $5 million, about $1 million more than the mortgage owed on the home. Public records show that a lis pendens was filed June 5 on the property.

The interior features 200-year-old beams, 30-foot ceilings in the dining area and an open custom Bulthaup "floating" kitchen and double-sided fireplace. The two-acre estate is next to a horse farm owned by Calvin Klein's ex-wife, Kelly Klein.

Kerkorian is a former tennis pro and ex-wife of billionaire Kirk Kerkorian.

— LAURA MANN

Architect Peter Cook turned out Wednesday for the unveiling of his latest home design -- a six-bedroom, 7.5-bath house in East Hampton that recently went on the market for $19.95 million. He's seen here with co-listing agent Evan Kulman of The Corcoran Group, developer James Fantaci of By Design Properties, and to Cook's right, Kulman's partner at Corcoran, Gene Stilwell.

- VALERIE KELLOGG

The 2006 Hampton Designer Showhouse is back on the market, now for an asking price of $16.9 million.

The 14,000-square-foot Bridgehampton home, which was listed for $24.5 million when it went on the market three years ago, had been in foreclosure; earlier this year, through a series of legal maneuvers, it was turned over to a holding company that is now trying to sell the property, says exclusive listing agent Mary Slattery of The Corcoran Group.

The investors behind the holding company are now paying to have the house completed, she says. The media room was never finished, and neither was the patio, she says. Even some trim and knobs are missing — "the kinds of things you'd expect to see in a house on the market for $16.9 million," she says.

Still, she says, "It's a spectacular property. It's just under four acres in one of the most beautiful spots in Bridgehampton south of the highway."

The eight-bedroom, 9.5-bath Arts & Crafts style house on Sagg Pond was designed by architect Peter Cook, Christie Brinkley's ex-husband. There is a wine room, a pool and a tennis court.

— VALERIE KELLOGG

Last summer, former Lehman Brothers president and chief operating officer Joseph Gregory listed his Bridgehampton home for $32.5 million. The price of the eight- bedroom, 8 ½-bath mansion has now been lowered to $27.9 million.

The listing agent is Michael DeSario of The Corcoran Group. Last year DeSario told REAL LI that the owners of the home were selling because they had not been able to spend as much time there as they had anticipated.

Public records indicate that Gregory, who is a Lloyd Harbor resident, purchased the home under a corporate name in 2007 for $19 million. DeSario said his clients had added at least $2 million in upgrades to the home before listing it. The 8,000-square-foot mansion sits on 2.5 acres, with 200 feet of beachfront. Amenities include a 50-foot pool with a spa and two master suites and six ensuite bedrooms.

Meanwhile, the price remains the same at Jack L. Rivkin’s Amagansett estate, which was listed earlier this year at $31 million. Rivkin retired last summer as executive vice president, chief investment officer and head of private asset management at Neuberger Berman, a Lehman Brothers company. Rivkin’s home is listed with Kathy Konzet of the East Hampton office of Sotheby's International Realty.

- LAURA MANN

Southampton's Westerly has a new agent -- and a new asking price. Now listed with Tim Davis of The Corcoran Group, the 14.5-acre estate is on the market for $45 million.

The property has been listed with Prudential Douglas Elliman Real Estate for $59 million.

The 25-room brick Georgian Revival country was built in 1929. There is a separate carriage house, a pool pavilion, a pool and a tennis court.

"This is a wonderful opportunity to own this gracious historic estate with subdivision potential,” says Davis, senior managing partner.

The late attorney Howard Gittis was the most recent owner. Gittis hosted many fundraisers and benefits at the house, including a $1,150-per-person party for Sen. John McCain in 2007.

In 1955, the estate hosted a "Night in Baghdad" event, complete with camels, and in 1966 there was an Indian-themed party with a baby elephant.

- VALERIE KELLOGG

Jack may not have built this house, but he rented it a few years back while filming scenes in the Hamptons for the movie “Something’s Gotta Give.”

Jack is Jack Nicholson and the house is a 5,800-square-foot, five bedroom, 7 ½ bath oceanfront contemporary in Southampton. The property is available for Memorial Day through Labor Day for $400,000, but listing agent Gary DePersia of the The Corcoran Group says that the owners would also rent the home for various periods throughout the summer, including weekly or monthly.

The 4.5-acre spread includes a heated pool with an outdoor fireplace and a private walkway to the beach. Amenities include a great room with a fireplace, a sitting room with views of Shinnecock Bay, and a master suite with two fireplaces and his-and-hers baths with ocean views.

— LAURA MANN

If you're looking for a summer rental with star appeal, then this oceanfront contemporary may be just the ticket. The five-bedroom, 4 1/2-bath spread in Wainscott is available for Memorial Day to Labor Day for $350,000.

The Beach Lane home has a history of celebutenants, including Dina Lohan and daughter Lindsay, as well as designer Calvin Klein. Listing agent Gary DePersia of The Corcoran Group says that "it's a wonderful spot for sunsets, and one of the most sought-after streets in the Hamptons."

The home is furnished and newly renovated, and comes with a heated pool and a cabana. If you want to settle in for a full year, that'll cost you $400,000.

— LAURA MANN

A six-bedroom, 7.5-bath house in East Hampton designed by Peter Cook has gone on the market for $19.95 million.

The 7,206-square-foot, two-story house overlooks a 17-acre nature conservancy. The 1.43-acre property includes an infinity edge pool with a hot tub and a pool house.

Cook, an architect who was once married to supermodel Christie Brinkley, built the house with Lettieri Construction and By Design Properties. There is a double-height great room, a circular screened porch with indoor and outdoor fireplaces, second-floor terraces with winter water views of Georgica Pond, and a gym with a separate sauna and steam room.

The property is listed with Evan Kulman and Gene Stilwell of the Bridgehampton office of The Corcoran Group.

— VALERIE KELLOGG

A custom-built house in Water Mill South recently sold for $8.3 million.

The original asking price for the 1.4-acre property was $11.5 million. The last listing price was $10.25 million.

The 7,100-square-foot house was constructed by the Farrell Building Co. The nine-bedroom home includes a media room, a wine cellar, a gym and an elevator serving all three levels.

There also is a heated gunite pool and a tennis court.

Gary DePersia of The Corcoran Group was the listing agent.

Annual taxes are about $14,300.

- VALERIE KELLOGG

The East Hampton estate where Mariah Carey and Nick Cannon stayed last summer has gone into contract, according to The Corcoran Group's Web site.

Stone Meadow Farm was on the market for $19.995 million when the newlyweds took residence there. It is now listed for $15.9 million. Gary DePersia, a Corcoran senior vice president, is listing the property.

So far, there's no word on who the buyer is.

The main house has 15,000 square feet. There are two guest cottages, a spa, a media room, tennis courts, a heated gunite pool, a stable for five horses and riding fields.

Last summer, the eight-acre property also hosted a star-studded celebration of the 125th anniversary of the Suffolk County Chapter of the American Red Cross.

- VALERIE KELLOGG

An oceanfront home in Sagaponack belonging to the ex-wife of New Jersey Gov. Jon Corzine recently rented for $900,000, real estate sources say.

Susan Breitenbach of The Corcoran Group brought the renter, says a spokeswoman for the agent. She declined to identify the customer's identity, but did say that it might be a record-setting price for a seasonal rental in the Hamptons. Beate Moore of Sotheby's International Realty, the listing agent for the property, agrees. "It is a big number," she says.

The lease is for Memorial Day to October.

The 6,200-square-foot, six-bedroom, 5.5-bath home is on a gated property. The 6.64-acre estate includes a heated gunite pool, a Har-tru tennis court and more than 500 feet of ocean frontage along Gibson Beach.

The house was signed over to Joanne Corzine in 2002 as part of her divorce settlement from Gov. Corzine.

- VALERIE KELLOGG

It's a tough market in the Hamptons, so some 40 agents from The Corcorcan Group's East End offices will head to Manhattan Thursday for the brokerage's first-ever rental expo. "We're trying to jumpstart the season," says Pamela Liebman, Corcoran's president and chief executive. "The season seems to be getting off to a late start."

The wine-and-cheese event will begin at 5 p.m. on the 12th floor at Corcoran's headquarters at 660 Madison Avenue, where agents have been asked to "come in with their best rental deals and present them directly to potential customers," according to a news release.

Liebman says that many people are waiting out the market, hoping for better deals. "We want to show them there are great values now," she says, adding that the company hopes to entice those who've always wanted to rent but may now have a chance to for the first time.

Agents will present listings on their laptops. Prices on the couple thousand or so houses available range from $15,000 a month to more than $500,000 for the season, she says.

In the recent past, foreigners have been big rental customers out east. With the economic crisis now affecting those abroad, the real estate community is reaching out to its more traditional customer base in the city. "If we can't bring them to the rentals, we'll bring to rentals to them," Liebman says.

The sale of a six-bedroom, six-bath oceanfront estate in Amagansett proves that the Hamptons market isn't dead, says the listing agent.

Property records show that the seller is Danny Errico, who founded the Equinox gym chain. He recently sold the 1.5-acre property for $11.875 million.

Annual taxes are $36,270.

The 7,000-square-foot, two-story, traditional-style house was built in 2002. There are seven fireplaces, as well as a heated pool, with a guest house. The house was designed by decorator Anthony Ingrao.

"Prime real estate is still selling in the Hamptons," says Susan Breitenbach of the Bridgehampton office of The Corcoran Group.

The house was originally listed in 2007 with an additional lot for $24 million, Breitenbach says. According to a newspaper report, it had been listed in 2006 with another agency for $35 million.

- VALERIE KELLOGG

Top Hamptons real estate agent Gary DePersia recently sold his home in Amagansett for $4 million.

DePersia, senior vice president at The Corcoran Group, where he is associate broker in the East Hampton office, said he and his wife, Charlotte, also a senior vice president with the brokerage, built the 5,000-square-foot house to sell.

"We moved into it while we marketed it," says DePersia, who was Corcoran's top agent last year in terms of sales volume and his East Hampton's office top producer for 2008.

The traditional-style house has five bedrooms, 6.5 bathrooms, a finished basement and four fireplaces. There is a heated pool. Designer Celerie Kemble did the interiors.

The house was completed last year.

Public records show that the DePersias bought the 2.25-acre property for $645,000 in 2005. Gary DePersia said it was vacant at the time.

The property is located near homes owned by Gwyneth Paltrow, Alec Baldwin and Paul McCartney. In fact, the former Beatle's house "is right around the corner from me," says DePersia.

Photo by Chris Foster

There’s been a price cut on Sagaponack Greens, the 41-acre property owned by Manhattan attorney and real estate investor Alan Schnurman. The property had been listed with Prudential Douglas Elliman for $64.5 million. It is now co-listed with The Corcoran Group’s Gary DePersia for $47 million, a 27-percent reduction in the asking price.

The property, which Schnurman purchased in 2005 for a reported $25 million, is also available in eight estate-like lots from 1.4 acres to 2.3 acres and ranging in price from $5.25 million to $5.75 million, says DePersia. “It’s the largest combination of land available in Sagaponack so close to the ocean. Nothing compares in size and quality,” DePersia says, adding, “It’s a great opportunity for someone to buy one or more lots, and build a good-sized house with pool and tennis courts, or build a family compound with house and guest house.” No matter how a builder positions a house on the land, DePersia says that each lot would afford “first-floor views” of the ocean.

The lots border a 25-acre agricultural preserve, and are within walking distance to the ocean. Ira Rennert’s 60-acre spread is a stone’s throw away.

Alan Schnurman is partner in the firm Zalman and Schnurman of 1800lawline.com.

She may not yet have sold her Bridgehampton estate, but Christie Brinkley is not letting that or her recent divorce get to her.

"I want to seize the day and take advantage of this year," she told People in unveiling her new "Got Milk?" ad.

"I am so energized," she went on, adding, "I see this as a huge time for opportunity. This is the time for change. I am so appreciative of everything I have."

Brinkley's Tower Hill, where she lived with ex-husband Peter Cook, remains on the market with The Corcoran Group for $30 million.

AP photo

Public records show that Randolph Lerner, owner of the Cleveland Browns NFL football team, just sold a 2.5 acre property on Further Lane in Amagansett for $7.895 million. The land comes with deeded ocean access by private path across a Nature Conservancy preserve. Zoning would permit the building of a 10,000-square-foot home.

The land had been listed with Frank Newbold of Sotheby’s International Realty. Mala Sander of The Corcoran Group, who brought the buyer, says that it is “an absolutely beautiful piece of property.” Lerner, who also owns a 15-acre estate on Town Lane, next to Alec Baldwin’s home, purchased the Further Lane tract in 2007 for $7 million.

Lerner and his wife, Lara, founded the Amagansett Applied Arts School of Visual Arts. Forbes Magazine estimated Lerner’s wealth at $1.3 billion. His father, Al Lerner, created the MBNA credit card company, which the family sold to Bank of America in 2002.

What a difference a year makes. When last we mentioned Lisa Kerkorian’s 10,000-square-foot barn-style home in Bridgehampton, the asking price was $12.7 million. That was just over a year ago. Today the home is still on the market, now at $7.995 million. The listing agent is Susan Breitenbach of The Corcoran Group.

The 2-acre estate has been on and off the market over the past few years. It had previously been listed with Sotheby’s International Realty for $16.3 million.

The six-bedroom, 7-½-bath home is a mix of old and new; just off the media room is a barn constructed of 200-year-old beams. The home is next to the horse farm owned by Calvin Klein’s former wife, Kelly Klein.

Kerkorian, once a professional tennis player, is the ex-wife of Kirk Kerkorian, who is worth $16 billion, according to Forbes Magazine.

Modell’s Sporting Goods Chief Executive Mitchell Modell has just purchased a Hamptons home with his wife, Robin, for $6.95 million, according to public records. The Bridgehampton home has seven bedrooms and 7 ½ baths, a pool and tennis courts. It was listed earlier this year at $8.495 million, and the price was later lowered to $7.995 million.

Susan and Matthew Breitenbach of the Corcoran Group listed the property.

Despite the recent economic downturn, there's already a 2009 summer rental listed in the Hamptons for more than a million dollars.

Sources tell REAL LI a 12-bedroom mansion on 42 acres in Water Mill is being listed with The Corcoran Group for $500,000 for July 2009 and $600,000 for August 2009. The property, called Fordune, was once part of Henry Ford 2nd's estate.

Fordune once comprised over 200 acres and according to published reports was awarded to Ford's first wife, Anne McDonnell after the pair divorced. She reportedly sold the property in 1975 and it has since been subdivided.

Rick and Kathy Hilton, parents of Paris Hilton and Nicky Hilton, own property in the area.

Listing agent Tim Davis could not be reached for comment.

The Cutchogue home of author and BBC journalist Alistair Cooke is on the market for $5.2 million. The four-bedroom, 2 ½-bath contemporary house sits on 1.4 acres on the southern tip of Nassau Point, on a bluff overlooking Peconic Bay. There is also a separate guest studio with a half-bath.

British-born Cooke, who died in 2004 at age 95, is perhaps best known for his 22-year stint as host of public television’s "Masterpiece Theatre." The home is being sold by Cooke’s heirs.

The home was built for him in the 1940s by architect William Muschenheim, who also designed the Marine Transportation Building at the 1939 World’s Fair, and the exhibition space which was the precursor to Manhattan’s Guggenheim Museum.

Listing agent Nicole LaBella of The Corcoran Group says that the scenery, with 248 feet of waterfront and views of Shelter Island, is reminiscent of the south of France. “It’s a rare opportunity to find a property like this on the bay.”

When LA Reid threw a summer wedding reception for Mariah Carey and Nick Cannon at his Sagaponack estate last week, no expense was spared to make guests like Mary J. Blige, Gwyneth Paltrow, Kelly Ripa and LL Cool J happy. The luxury applied to the menu as well, which was catered by celebrity party planner Andrea Correale, owner of Elegant Affairs, based in Glen Cove and Manhattan.

“It was a beautiful summer night,” says Correale, “everyone enjoyed themselves.” The menu included treats like Amagansett lobster rolls, Kobe beef, a gourmet pizza grill and a New York steakhouse grill.

On Aug. 23, Elegant Affairs will once again be catering a grand soiree, this time at Stone Meadow Farm, the East Hampton estate that Carey and Cannon had recently rented while they were in town.

Hundreds of guests, including Tory Burch, Aretha Franklin and Russell Simmons are expected to attend the celebration of the 125th anniversary of the Suffolk County Chapter of the American Red Cross. The event is hosted by WABC-TV's Ken Rosato. Tickets are $250 each ($300 at the door). To RSVP call (631) 924-6700 from 9am - 4pm or email your request to Suffolk@crossnet.org.

Stone Meadow Farm is on the market for $19.995 million, listed with Gary DePersia of The Corcoran Group. The main house features 10 bedrooms and 18,000 square feet of living space. There are also two separate guests cottages, spa, tennis courts, gunite pool, and a stable that accommodates five horses.

The Corcoran Group’s Penelope Moore is listing a four-bedroom, four-bath, three-story cedar clapboard home on Shelter Island for $1.485 million.

Moore says that the house is surrounded by cherry trees and Japanese maples. “It’s like being in an elegant treetop house …hidden on top of a hill with peek-a-boo water views of Gardiners Bay.”

The nearly 3,300-square-foot dwelling sits on .88 acres, with wraparound decks, a media room, a heated Gunite pool with mahogany decking and sound system, a bamboo garden and a blue stone driveway. The property is adjacent to the golf course of the Gardiners Bay Country Club, and is only a block from the beach.

The current owner of the home is James Seuss, chief executive of Cole Haan, the luxury footwear, accessories and outerwear company owned by NIKE, Inc. Moore says Seuss is selling the property since he can no longer spend as much time there due to his hectic work and travel schedule.

Shelter Island celebs include designers Jonathan Adler and partner Simon Doonan, who own two homes there, and hotelier Andre Balazs, who has lived on the island for 14 years and who also owns the Sunset Beach hotel there.

There’s been a $2 million price drop on Startop Estates, the 16-plus acre former thoroughbred horse ranch in Montauk. The hilltop estate, which encompasses up to seven parcels of land, is listed with Raymond and Joan Hegner of The Corcoran Group for $15.5 million.

Joan Hegner says that the property can also be purchased in smaller parcels at various price points starting at $1.2 million. The main parcel, which includes 14.4 acres and the original five- bedroom ranch house, can be purchased for $10.5 million.

Startop Estates borders a 6-acre agricultural reserve and a 1,000 acre county park with trails that lead to the Montauk Lighthouse. The vistas include views of the Atlantic Ocean, Lake Montauk and Block Island Sound.

The estate once encompassed 50 acres and was home to 30 thoroughbreds; today a handful of horses remain. Startop was originally owned by surgeon Dr. Leon Star, who passed away in 1987.

There’s been a price drop on Belle Meade, the Greek Revival mansion in Quogue once owned by Ford Models founders Eileen and Jerry Ford.

The 11-bedroom home originally went on the market with The Corcoran Group last year for $10.5 million. It is now listed with Michael Shaheen of Prudential Douglas Elliman for $8.999 million.

Belle Meade was built in 1906 and is attributed to architect Stanford White. The home is being sold by the heirs of the latest owners, Dr. Robert and Robin Cushing, whose daughter Hilary married at Belle Meade in 1985. The wedding, catered by Martha Stewart, was featured in Stewart’s 1987 book, “Weddings”.

Belle Meade sits on 3.5 acres enclosed by privet hedges. Amenities include a heated Gunite pool and a Har-Tru tennis court.

If you're interested in learning how designers work with clients to bring their vision to life, then scope out the Corcoran Group’s book, “Properties for Living.” The real estate agency partnered with HC&G magazine to write about the designers. The book showcases more than 400 exclusive East End properties with editorial that includes a look at this years 10 most sought after designers, which in turn builds on Corcoran’s branding campaign “live who you are.”

Style gurus Jonathan Adler and Simon Doonan have purchased a second home on Shelter Island. The couple already owns an 1,800-square-foot, three-bedroom beach cottage on the island, and recently closed on the sale of a three-bedroom, 2,800-square-foot ranch there.

Penelope Moore of the Corcoran Group represented the buyers in the deal and says her clients were drawn to the bulkheaded bayfront home because of the wide-open water views. Moore says that “Top Design” judge Adler and Doonan, creative director for Barney’s, are both avid swimmers and plan to build a 50-foot swimming pool on the 1.4-acre property.

The home was built in 1998, has 2.5 baths and two fireplaces, and views of Bug Lighthouse. Moore says the new owners plan to do a “big renovation” and will likely retain their current Shelter Island digs until work on the new house is complete. The home was listed for $1.95 million and sold for $1.9 million.

Last year, Adler told Newsday about what drew the couple to Shelter Island: "My husband, Simon, and I just sort of randomly rented there one summer -- the first summer we met. I'd spent tons of time going to the Hamptons, and we stumbled upon Shelter Island and just instantly fell in love. It's just so mellow and chill, and there's something about that five-minute ferry ride, it keeps it all away."

Doonan recently published his fourth book, "Eccentric Glamour: Creating an Insanely More Fabulous You" (Simon and Schuster, $24).

As REAL LI reported yesterday, comedian and talk show host Dick Cavett is selling off part of his Montauk holdings.

Listing agent and Corcoran senior managing director Krae Van Sickle today has confirmed that Cavett is asking $30 million for a 76.8-acre waterfront parcel on DeForest Road.

Van Sickle tells REAL LI that Cavett is not selling Tick Hall, the home he owned with late wife Carrie Nye. That house, which was rebuilt after a fire in 1997, sits on adjacent land. The rebuilding of Tick Hall is the subject of a documentary film, From the Ashes.

Van Sickle says that Cavett has been in talks for many years with Suffolk County and the Town of East Hampton to purchase the nearly 77-acres for conservation purposes, but that deal has not yet been sealed and the land is now also available on the open market.

Sources tell REAL LI that talk show host and comedian Dick Cavett may be selling some of his Montauk property.

Cavett, who moved to Montauk when it was still a sleepy village in the 1960's, lived in the the Stanford White-designed Tick Hall he purchased with his wife actress Carrie Nye. The home and several nearby structures burned down in 1997. The couple painstakingly rebuilt Tick Hall, with the rebuilding project made into a documentary film. Nye died in 2006.

When contacted by REAL LI, Corcoran's Krae Van Sickle denied that Cavett was his client. Among Van Sickle's listings, however, is an 77-acre oceanfront parcel in Montauk. Coincidentally, public records show that among Cavett's Montauk holdings is a 76.8 acre tract of land on DeForest Road. He also owns another nearly 20-acre tract nearby.

Dottie Herman, chief executive officer of Prudential Douglas Elliman Real Estate, will be honored June 21 at the 12th annual "Heart of the Hamptons" gala for the American Heart Association. The part-time Hamptonite will join honorees Robert McMahon, president of U.S. Pharmaceuticals, Merck & Co., Inc., Dr. Michael Wolk, past president of the American College of Cardiology, and super model Christie Brinkley, whose Bridgehampton house is on the market with Prudential rival The Corcoran Group. WNBC newsman Chuck Scarborough will be the master of ceremonies for the event, which will be held on the grounds of the Hayground School in Bridgehampton.

Newsday file photo

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).

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.

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.

"I once got a customer because I knew John Lennon and Yoko Ono," Arlene Reckson, a Corcoran Group senior vice president, tells Dan's Papers. "I was part of their entourage in the '70s and when the Daily News did a piece on the anniversary of Lennon's death, I was mentioned. The customer had seen my name ... and made the connection." The article's other goodies: Beth Troy of Town and Country Real Estate in East Hampton got a client because of a great haircut, Christopher Stewart of Prudential Douglas Elliman Real Estate in Amagansett finds customers on the playground with his son, and Katia Delouya of Devlin McNiff Real Estate in East Hampton hooks them in with her French accent.

In what certainly is one of the more unique features of a Hamptons property, one of the cottages in this East Hampton compound has its own built-in orchestra pit. Another cottage houses a gym.

The main house is an 1888 restored East Hampton Dutch Colonial with six bedrooms and 5 ½ baths near the center of the village and close to the beach. The property also includes all-weather tennis courts and a heated Gunite pool with spa.

The home is listed for $18.5 million with Jack Pearson and Cee Scott Brown, senior vice presidents of the Corcoran Group. Pearson tells RealLI, “In terms of Hamptons historic homes, this one is the real McCoy. When it was built, it was ahead of its time … It was built with such integrity and the owners have preserved and updated the property with great care.”

Public records show that the current owner is Jonathan Sheffer, composer and conductor who studied under Leonard Bernstein, spent a decade composing in Hollywood, and later founded the Eos Orchestra, an experimental arts group based in Manhattan that operated until 2004. Sheffer is a board member of the VH1 Save the Music Foundation.

Oscar-winning actress Gwyneth Paltrow will soon have Mom nearby when she's out in the Hamptons.

Sources tell RealLI that Paltrow's mother, actress Blythe Danner, is set to build a house on a vacant parcel adjacent to her daughter’s home in Amagansett.

The Bluff Road property was purchased last month by West Fourth Street Trust for $3.4 million. The Paltrows are said to be the name behind that trust. The sellers were the heirs of author and editor Joel Carmichael, who had lived on the land for 40 years.

In 1966 Carmichael was instrumental in salvaging the circa 1902 Amagansett Life Saving Station by purchasing the building for 75 cents. He paid $10,000 to move the structure to his property where it sat until last year, when it was donated by the family to the Town of East Hampton. Today, it sits behind the East Hampton Marine Museum.

The 2.3-acre Carmichael property was put on the market over a year ago for $6.25 million with Martha Perlin of The Corcoran Group. The property was later subdivided, and sources say that Danner won out in a lively bidding war over the 1-plus acre parcel she will build on. The remaining parcel with a two-bedroom cottage is still for sale at $3 million. Perlin declined to comment on the sale, as did Danner and Paltrow.

Paltrow and rocker husband Chris Martin -- parents of Apple and Moses -- purchased their nearby home for $5.4 million in 2006. The home was featured last year in Home and Garden. See photos here.

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Summer rentals these days have reached $1 million in some parts of the Hamptons, but Russian heiress Anna Anisimova made headlines in 2006 when she leased a Water Mill South mansion for $635,000 for three months -- an almost unheard of sum at the time.

Anisimova is now building a Hamptons home of her own, and the 8,500-square-foot, seven-bedroom home that she rented on Cobb Road is listed for sale with Gary DePersia of the Corcoran Group. Originally listed at just under $20 million last year, the asking price has recently been lowered to $17.5 million.

This past weekend the house was featured on WNBC’s “Open House NYC.” You can see the video here.

The former Namagansett Club, which went on the market back in 2006 for $15.8 million, now has a lower price. Harald Grant and Ed Petrie of Sotheby’s International Realty are listing the six-bedroom, 7½-bath home on 3.5 acres for $14.75 million. William Wolff of the Corcoran Group is representing the property as well.

The owner is Edgar Bronfman, Jr., chairman and chief executive officer of Warner Music Group. Bronfman purchased the three-parcel property in 2005 for $12.5 million and finished renovations that had been started by a previous owner. In 2006, Wolff told Newsday that Bronfman had never actually moved into the house.

The home features wraparound porches, a wine cellar, a billiard and media room, a heated Gunite pool, a pool house, his-and-her offices and gardens designed by Deborah Nevins.

"It's the strong rental market I've ever seen," says Susan Breitenbach of The Corcoran Group, who has listings ranging from $12,000 to $400,000 for the summer. This season, there are two for $1 million. This one, on Shinnecock Bay, is listed with Brown Harris Stevens for $400,000. Read all about it -- and see a video of one of the $1 million summer rentals -- by clicking here.

A seven-bedroom, 10-bath traditional home on three acres in Sagaponack is in contract. The asking price is $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 house is expected to close in April.

The listing agent is Susan Breitenbach of The Corcoran Group.

Publisher Richard Ekstract has lowered the asking price of his eight-bedroom Bridgehampton home to $15 million. It had been listed for $18 million. The 7,500-square-foot home had been the 2005 Hamptons Cottages and Gardens Idea House. It was designed by San Francisco, Calif., architect Hugh Huddleson, East Hampton designer Robert Stilin and landscape stylist Mario Nievaro. The house is on 3.7 acres. The listing agent is Gary DePersia of The Corcoran Group.

The Corcoran Group has announced a record-breaking sale on the North Fork.

According to the company, broker Sheri Winter Clarry recently completed at $19.5 million transaction for 135 acres in Peconic. The property, known as Indian Neck Farms, has a 5,000-square-foot, four-bedroom, five-bath mansion, a working organic farm and a 19-acre vineyard. Fourteen buildings, including two barns and a two-bedroom guesthouse, dot the estate.

Property records show that the land belongs to Pat and Phil Marco. He is an internationally renowned photographer and the recipient of numerous awards for his still-life advertising photography. Marco, who was raised in Brooklyn, has also worked on numerous commercials, and has done filmography for movies such as "The Color of Money," "The Last Temptation of Christ," "Casino" and "Gangs of New York."

Darius Bikoff, who sold his Queens-based Energy Brands line of VitaminWater and other enhanced drinks to Coca-Cola last year, recently bought an oceanfront home in Sagaponack for $19.250 million. The six-bedroom, 4.5-bath Contemporary is on Daniels Lane. Built in 1986, the 8,000-square-foot house has 170 feet of private waterfront. The 2.50-acre property has a pool and a tennis court.

The owners are Leonard and Phyllis Rosen. Leonard Rosen is the retired founding partner of New York-based law firm Wachtell, Lipton, Rosen & Katz, which counsels many of the nation's largest companies. According to the firm's Web site, Rosen specialized in representing major institutional lenders in the restructurings and reorganizations of large corporate borrowers

Paul Brennan of Prudential Douglas Elliman Real Estate was the listing agent. The deal closed Jan. 4. The Corcoran Group's Jennifer Mahoney brought the buyer.

Bikoff founded his company, also known as Glaceau, in 1996. He sold the company last year to Coca-Cola for $4.1 billion. He is now running a Coke stand-alone unit.