Auction by: Maltz Auctions

Live Off-Site Auction

Began: Thursday, November 21, 2013 at 1:00 PM EST

Location: Auctioneer’s Gallery, 39 Windsor Place, Central Islip, NY 11722


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Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York

Case # 11-72945-AST

1+ Acre Sagaponack Home – Two Blocks from Beach

Spectacular Location in Prestigious Neighborhood Surrounded by Reserves


  • 39 Seascape Lane, Sagaponack, NY 11962
  • Private Driveway Leads to 3,700+ Sq Ft Home Situated on 1+ Acre of Manicured Grounds
  • Located on Quiet Cul-de-Sac in Highly Desirable Sagaponack, South-of-the-Highway
  • 5 Bedrooms & 4 Bathrooms
  • Expansive Grounds with Heated Gunite Salt Water Pool & Spa
  • Sagaponack Ranked 4th Most Expensive ZIP Code in United States by Forbes in 2012
  • Average Sales Price in Sagaponack is $11,000,000 (Financial Times Article 8-24-2013)
  • First Floor:
  •    Living Room w/ Wood Burning Fireplace
  •    Eat-in-Kitchen w/ Viking & Traulsen Appliances
  •    Dining Room w/ Wood Burning Fireplace
  •    Den
  •    Laundry Room
  •    Full Bathroom
  • Second Floor:
  •    Master Suite w/ Seating Area & En-Suite Bathroom
  •    3 Additional Bedrooms
  •    1 Additional Bathroom
  • Third Floor:
  •    Suite with Bedroom, Den & Full Bathroom
  • Additional Information:
  • Town: Southampton
  • Village: Sagaponack
  • Section: 8   Block: 1   Lot: 7
  • Expansive Covered Porch
  • Gunite Pool & Spa
  • Hard Wired Internet
  • Town Water
  • Central Air Conditioning
  • Oil: Heat (Natural Gas Hookup Available for Appx $5,000)
  • Propane: Pool Spa & Clothing Dryer 
  • Annual Real Estate Taxes: $9,200 (Appx)
  • Last Asking Price: $5,300,000


Inspection/Viewing:  Saturday, November 9th from 2:00 pm – 4:00 pm and Sunday, November 17th from 11:00 am – 2:00 pm.

Auction Date & Time:  Thursday, November 21st at 1:00 pm.  Registration commences at 12:30 pm.

Auction Location: Auctioneer’s Gallery, 39 Windsor Place, Central Islip, NY 11722.  Absentee Bidding Available with Prior Registration.

Terms & Conditions of Sale: Property will be sold free & clear of all liens, claims and encumbrances.  In order to register to bid, all prospective bidders must present a bank check in the amount of $260,000 made payable to “Lester & Associates, P.C., as Escrow Agent”.  Please download the complete Terms and Conditions of Sale.

Buyer’s Premium:  A five percent (5%) Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.

Buyer Broker Participation:  A one percent (1%) commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation form for details.

Lester & Associates, P.C., Attorneys for the Chapter 11 Debtor & Debtor in Possession
David R. Maltz, Auctioneer DCA# 762794
 Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
 Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105

The Chapter 11 Debtor & Debtor in Possession, Attorneys for the The Chapter 11 Debtor & Debtor in Possession and the Auctioneer/Broker do not guarantee the accuracy of any of the descriptions or any other information pertaining to the sale of this property. All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.