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Eastport Home That Should 'Probably be $80M' Asks $12M

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According to actor and real estate agent Joey Mintz, if the 22-acre estate known as Seatuck Cove Farms existed on the East End of Long Island, instead of in Eastport, N.Y., "the asking price would probably be $80 million, not $12 million." But by that same token—a lamentable one when it comes time to sell—what makes the property "so special is that it's not out there in overcrowded, overbuilt East Hampton, it's off the beaten path in Eastport and has all the beauty and feel of the original Long Island." Mintz told as much to the New York Times, which profiled Seatuck Cove when it was put up for sale earlier this month, for the first time in 35 years. Disregarding, of course, the single day that the Zillow record shows it listed for in June, which was probably pushed back to hold off for something like Times coverage.

That $12M buys a 1979 work by so-called "Fire Island modernist" Horace Gifford measuring 6,000 square feet with its 1996 extension taken into account. The home sits on 5.1 landscaped acres, but the deal also includes a 2.1-acre buffer lot, as well as an adjacent 14.8 parcel with an organic farm on it, largely the domain of a "flock of guinea hens and peacocks." All told, the total amount of waterfront is 2000 feet. The seller, a private investor named Peter Graham, discovered the place in 1975 on a water-skiing excursion. After building a weekend house there with his brother and father, Graham took full ownership in 1992.

The original part of the cedar-clad two-story home is marked by a pair of matching half-moon decks in the front and back, while the extension, designed by Philip Bab, throws some sections of lead-coated copper into the mix. It doesn't come off as much of a departure, though, thanks to an "array of wraparound decks" that blend "the exterior structure into a single statement." Inside, the home has six bedrooms and six baths, all done up in warm wood panels punctuated by large windows and glass sliders. Also included are a Har-Tru tennis court, a sauna, and an outdoor kitchen, as well as a semicircular waterfront pool and a deck on the south side that were damaged by Hurricane Sandy. Graham and his wife, Heidi Drymer, who are selling the place because "it needs new stewardship," are leaving the decision to rebuild or resituate them up to the next owner.

· A Secluded Modern [NYT]
· 108 Seatuck Ave [Zillow]