Montauk Property Owners Expand Possibilities of Oceanfront Living

Feb 14, 2013, 16:56 ET from Bill Williams Realty

EAST HAMPTON, N.Y., Feb. 14, 2013 /PRNewswire/ -- New York investor Henry Druker and Matt Goldman, the co-founder behind the highly successful Blue Man Group theatrical productions, have embarked upon a creative real estate venture in Montauk, NY, the seaside hamlet fast emerging as the "it" spot for investment in the Hamptons.  The neighbors have created a virtual merger of two prime, contiguous 1 ½ acre lots to provide an exceptional oceanfront land opportunity on a coveted stretch of Old Montauk Highway that counts Robert De Niro and Ralph Lauren as neighbors.  Druker owns his lot in partnership with Red McCombs, the co-founder of Clear Channel Communications and former owner of the San Antonio Spurs and Minnesota Vikings.

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The merger of the two adjacent 1½ acre parcels results in a first-time offering of a dramatic 3-acre building site boasting 186' of beautiful Montauk ocean frontage. With an elevation of 55', the expanded setting is the perfect location for a spectacular beachfront residence commanding some of the area's most dramatic ocean vistas. 

The property merger was the creative work of Druker, a long-time resident of East Hampton, NY, and Goldman, a long-time resident of Montauk.  They together envisioned the intrinsic value of a larger oceanfront site - flexibility for development, more generous setbacks and greater preservation of the open spaces and vistas that distinguish Montauk and its landscape. Druker and Goldman each recognized that their neighboring individual lots would be even more special if combined.

To imagine the possibilities for development within all town specifications, Druker and Goldman commissioned the prestigious East Hampton architectural firm of Fleetwood & McMullan, LLC to create a site plan for the newly expanded 3-acre parcel. A thoughtful plan was conceived for a spectacular, up to 10,000 sq. ft. home overlooking a 60-foot oceanside pool and meandering private path to the magnificent beachfront.  The plan is available for consideration by prospective buyers.  

The unique features of this property offering will undoubtedly appeal to savvy buyers.  The building envelope conforms to all East Hampton Town specifications, the governing body over Montauk development.  This is an important attribute in an area that fiercely protects its natural lands, wildlife and waterfront.  Druker had previously preserved and moved a Fleetwood designed home from a neighbor's lot to his own in the town of East Hampton.  Druker and Goldman engaged the support of town officials for the combined lot in Montauk while forming their partnership.  The combined lot offers the new buyer a larger home and pool than what could be built on either lot individually, while creating less density and development than what would occur if each lot were individually developed with a home, pool, drive, etc.  The result is more privacy, open space and generous setbacks to neighboring properties. 

Since the 1920's preservationists have buffered Montauk against over development establishing abundant parkland, natural reserves and wildlife sanctuaries. Vacant property is relatively scarce in Montauk where nearly 2/3 of the land has been preserved.  Today, Montauk maintains its unique blend of natural rugged coastline beauty peppered with eclectic housing opportunities ranging from dramatic oceanfront villas to quaint beach cottages. Montauk has enjoyed a real estate renaissance of late where deep-sea fisherman, avid surfers, artists, local residents, celebrity homeowners and summer residents peacefully coexist and mutually enjoy and respect the serenity, salty ocean air and relaxed vibe of this enclave at the easternmost tip of Long Island.

"From a real estate perspective, Montauk is on fire right now," commented Bill Williams, Senior Vice President of Sotheby's International Realty and co-listing broker for the property.  "Land values are strong and early season investment interest is very active.  The Druker-Goldman property is a significant new offering in an area where 3 prime oceanfront acres are sought after and scarce."

Bill Williams
Sotheby's International Realty 
East Hampton NY 11937

SOURCE Bill Williams Realty