The oceanfront retreat owned by fashion designer Elie Tahari has moved from being an $800,000 summer rental to hitting the sale market for $44.995 million. That makes the price-per-square-foot figure for this restored barn at 135 Crestview Lane an eye-popping $9,999. No one can say the home isn’t properly situated in the highest of high-rent districts on Long Island’s East End.
After renting it to a hedge-fund manager for the summer, Tahari has decided to part with the renovated 3-bedroom, 3-bathroom property, which features a 60-foot lap pool and a basketball court.
The price seems to account for all that oceanfront — the only private beach in Sagaponack — along with village planning board-approved plans to add an additional 5,500 square feet of living space, which would make it an 8-bedroom abode.
It remains to be seen whether Tahari can fetch anywhere near that list price. The 4,500-square-foot home is situated on 2.5 acres with 250 feet of oceanfront. If you search for homes between $44 million and $45 million in all of Suffolk County, Tahari’s place in Sagaponack is just slightly more pricey than a $44.9 million modern wonder at 97 Mid Ocean Drive in Bridgehampton, but that new construction mansion is already at 10,000 square feet.
Of course, there are plenty of other East End homes that come with a bigger price tag, including Dick Cavett’s “Cavett’s Cove” home in Montauk at $62 million, and David Geffen’s former compound along West End Road in East Hampton.
And, of course, there other East End properties for sale for even more money, including the Water Mill estate of the late shoe designer Vince Camuto, whose Villa Maria at 51 Halsey Lane is on the market for $72 million.
According to The Wall Street Journal, Tahari and his ex-wife bought the Sagaponack property for $12.1 million in 2005. The designer took full ownership in 2010 after the couple’s divorce. Tahari said in a statement to the WSJ that he no longer has time to visit the summer house because he is concentrating on his business. So while he designs clothes and enhances his Tahari Home collection, Tahari’s Hamptons home is up for grabs.
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