REAL ESTATE

INSIDE STORIES BEHIND AREA REAL ESTATE DEALS

A Coveted Spot
Various designers have yearned for the corner retail space of East Hampton's One Main Street, above, but Elie Tahari is apparently sealing the deal for $7.5 million, with plans to move from his location down the street. The former home of Calypso (and the original East Hampton post office) was discussed as a possibility for a Stella McCartney boutique with dad Paul, as well as others who were interested in having a name on fashion row. Hamptonite Tahari is expanding not only his retail space, but also his clothing line, as well, with menswear and accessories on the horizon. Not to be outdone, McCartney is rumored to be opening a shop close by.

Hedge Fund Row
Hamptons high-end is still blazing away with the recent sale of 900 Meadow Lane, a five-acre Southampton oceanfront estate that went for $26.5 million, brokered by new player Kevin Sneddon of Project Real Estate. Located at the highest point of Meadow Lane, the property has a 360-degree water view with the Atlantic on one side and Shinnecock Bay on the other, and as you'd expect, a pool and tennis court.

The property was listed quietly last year and in contract with Howard Stern, who left his Amagansett oceanfront pad in search of more privacy and closer proximity to the city.