By: Hadassa Kalatizadeh
An Amagansett home, which has remained in the family of an American Banker for 100 years, is now up for grabs.
As reported by the Wall Street Journal, the Hampton’s home, built in 1909, has been listed with an asking price of $18 million. The mansion boasts 13,000 square feet, and 17 bedrooms. The 4 acre property sits on a hill, and includes a tennis court, swimming pool, hot tub, and a three-bedroom guesthouse.
It was originally built by Cincinnati banker William Stanhope Rowe. The mansion was passed down for four generations, according to Lucy Mackall Sachs, 73, who inherited the property in 1996 along with her five siblings. Rowe was Sachs’ great grandfather. He had built it as a summer destination for his family. It is one of the original Devon Colony homes, built by Mr. Rowe and three other wealthy capitalists in the early 1900s.
Ms. Sachs told the WSJ, that the rooms throughout the home are true to their original layout, aside from the kitchen which was fully renovated in the early 1980s. The fireplaces and first-floor light fixtures actually date to the turn of the 20th century, she said. The second floor of the home boasts views of Gardiners Bay as well as the Atlantic Ocean. The sale also includes a roughly 5-acre vacant lot across the street, which cannot be built on, because it is being preserved.
When they were young, Ms. Sachs and her siblings and cousins would spend the entire summers at the home. “We would go down there the minute school was over and not go back until the minute it was going to start again,” she said.
Ms. Sachs said the family is now looking to sell the property because they do not frequent it as often as they used to, as per the WSJ. Real estate in Amagansett is now increasingly desirable and prices have soared, said the home’s listing agent Rylan Jacka of Sotheby’s International Realty. “Going into the pandemic, the market wasn’t great,” Jacka added. By summer 2020, however, the market rebounded and demand peaked. “The prices really did jump.” The third-quarter 2021 median sale price in Amagansett was $2.925 million, up 45.3 percent in comparison to quarter three of 2020, as per data from Miller Samuel Real Estate Appraisers.