Prime Location Along Montauk Highway – 231 Montauk Highway – This rare 38.45-acre assemblage is strategically located in the heart of Water Mill, one of the most desirable hamlets in the Hamptons. With direct frontage on Montauk Highway, the site benefits from visibility, accessibility, and proximity to Bridgehampton, Southampton, and Sag Harbor. A landmark winery facility, vast vineyard cropland, and an undeveloped residential land make this one of the most unique offerings in the market.

Three Distinct Parcels With Complementary Uses – The assemblage includes a mix of improved and unimproved land, offering a range of use scenarios for investment, commercial use, or long-term development.

231 Montauk Hwy – 10.219-acres with an ~12,000sf wine tasting and production facility. Zoning: CR60

197 Montauk Hwy – 2.065-acre undeveloped flag lot suitable for residential development. Zoning: CR60

35 Flying Goose Pa – 26.173-acre agricultural parcel currently planted as vineyard. Zoning: CR60

Elevated Redevelopment or Residential Potential – While the property is currently home to a wine production business and vineyard, the site presents a compelling opportunity for future repositioning. With over 38 contiguous acres and highway access, the parcels are well-positioned for a range of future use cases including hospitality, lifestyle fitness clubs, or residential development—subject to approvals.

Conceptual Townhome Development Scenario – While no formal design or application has been submitted, the assemblage presents a compelling hypothetical highest and best use for a luxury townhome community. A preliminary concept envisions 30 market-rate units (avg. $3.35M sale price) and 10 affordable units (avg. $550K), each averaging 2,500sf, with the existing ~12,000sf building potentially repurposed as a clubhouse or amenity center. Based on current market conditions, this program could yield ~$106M in gross sales against estimated development costs of ~$83M, resulting in a projected ~$22.94M gross profit (21.64% margin). Any such development would be subject to municipal review, planning, and permitting, but the scale, visibility, and setting create a rare framework for a transformative Hamptons residential destination.

Asking Price:

I N Q U I R E

Surrounding Businesses:

Parrish Art Museum, Shou Sugi Ban House, Green Thumb Farms, Audi Southampton, BMW Southampton, LUNCH Lobster, Hampton Coffee Co.

Inquire with the Hamptons Commercial RE Team for additional information.

197 MONT AUK HWY – Tax ID #: 473689 133.000-0001-012.003 2024 Town Tax Bill: $3,525.72

231 MONT AUK HWY – Tax ID #: 473689 133.000-0001-013.000 2024 Town Tax Bill: $13,896.90

35 FLYING GOOSE PA – Tax ID #: 473689 133.000-0003-001.000 2024 Town Tax Bill: $68.48