The Jule of the Hamptons
How the Ford estate’s record breaking deal will usher in a new era of real estate sales.
Who needs Netflix when you can watch the most entertaining show in town right outside your door? The Hamptons real estate market has been making headlines around the world for jaw-dropping prices and record breaking deals.
Just when we think we’ve seen it all, 90 Jule Pond Drive shatters the regional record for single-family home sales when it recently went under contract for $103 million. Naturally, an estate of this scope situated on 42 acres with unobstructed water views of the Atlantic, Mecox Bay and three charming ponds comes with a glamorous backstory. Originally part of the Ford family’s much larger enclave of 240 acres named Fordune, the 20,000-square-foot estate is quite impressive. Touting some of largest ocean frontage on the East End spanning nearly a quarter mile. Complete with 12-bedrooms, 12-full baths as well as a guest cottage, tennis court and koi pond. Originally built in 1957 built by Henry Ford’s grandson and served as the Roy dynasty’s summer escape in HBO’s Succession. From the very beginning, it’s been a bubble within a bubble where people with this level of wealth feel removed and protected.
“The Jule Pond area is special for many reasons,” said luxury real estate advisor Jonathan Davis, citing its privacy and beach access are among its perks.
Our sources tell us that the buyer plans on subdividing and selling off some of the 42 acre estate. Davis recommends that investors keep their eye on this fast-moving project, as well as nearby properties such as 113 Jule Pond Drive, which is listed for less than $10 million. He believes the locale has held on to its desirability all these years—Southampton touts itself as the oldest English settlement in the state—for more than face value. This kind of activity shows good signs of a healthy real estate market.