A nearly one acre lot just outside East Hampton Village has hit the market carrying something increasingly hard to find in the Hamptons — a legal head start that cannot be duplicated.
Buy the land, and you’re really buying the grandfathered right to build big in a town that’s only getting stricter.
The property at 20 Fieldview Lane is listed for $3.495 million and comes with fully approved architectural plans from Bluefin Building Company for a 7,675 square foot estate spread across three finished levels.
The design includes seven bedrooms, six full bathrooms and two half baths, three fireplaces, a finished lower level, a detached two car garage, a pool, a poolside cabana, an outdoor shower and a cabana bath.
What makes the approvals unusual is timing. East Hampton has since tightened its zoning code, and a home of this size could no longer be permitted on a lot this size.
The existing plans allow for roughly 30 percent more living space than current rules would grant, a built in advantage that transfers with the sale.
The lot itself is fully clearable and borders a 20 acre agricultural reserve, giving the property permanent open views and a level of privacy that is unusual this close to the village center.
A house already stands on the site and could be renovated for a faster move in, used as a weekend retreat, or lived in while a larger project takes shape.
Listing agent Romaine Gordon with Saunders and Associates said the setting brings a sought after quality without the price tag typically attached to it.
“There is a real South of the Highway feel, without the South of the Highway price,” Gordon told Hamptons Magazine.
Co-listing agent Sarah Minardi said the design was built around the lot’s advantages, and around a regulatory window that has since closed.
“The plans at 20 Fieldview were thoughtfully designed to take advantage of the lot’s generous proportions and privatized location. The fact that this scale of build could not be recreated today, given the changes to East Hampton Town’s building code, only heightens the opportunity,” Minardi said.
Gordon said the level of interest reflects how uncommon the combination of features has become.
“Not surprisingly, we have a lot of interest. Everyone knows that this is a unique opportunity that won’t be around for long,” Gordon said.
