Landmark Hamptons property to be auctioned in sealed bid

Real Estate Weekly, July 28, 2004

Burnt Point, described by some as one of the "10 best houses in the Hamptons," will soon be auctioned via the sealed bid method. Potential bidders have until late summer to vie for Burnt Point ownership.

The property is an 18,000 s/f, 25-room residential masterpiece with ocean views situated on 25 acres of land. Sealed bids are due by Thursday, September 9' c/o Burnt Point Project Manager, Sheldon Good & Company Auctions LLC at 18 E. 41 St., New York, NY 10017.

In addition, two land parcels are available in configurations of 14 acres and five acres. The heavily wooded 14-acre parcel is adjacent to Burnt Point and offers 828 feet of frontage on Georgica Pond.

The five-acre property is a private inland parcel that overlooks a 10-acre nature preserve with a one-acre pond.

According to Steven L. Good, chairman and CEO of Sheldon Good & Company International, LLC, the owner's instructions to the architect were to "build a world-class house." After considering more conventional methods, the Burnt Point owner has elected the real estate auction as the most expeditious and simple means of selling his property.

East Hampton and Wainscott's Georgica Pond in particular are playground to the world's "A-Listers"--the business, intellectual, and cultural elite. Here, the world's most significant estates overlook miles of pristine beaches and preserved open spaces.

According to Mr. Good, the property may be purchased in a number of parcels, including: the residence and 25 acres of land; the residence, a 14-acre parcel of land and a five-acre parcel; and the residence, plus the 25 acres of land and either or both 14 and five-acre parcels.

All parcels are to be offered separately.

Bidders will be invited to bid in combinations.

The 15-acre and five-acre lots have not yet been on the market.