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hush‑tucked transaction has set a new benchmark in the Hamptons. An Amagansett estate on 8.5 acres, known as 408 Further Lane, changed hands for $115 million— the highest price paid for a single residential parcel in the region. The deal, first disclosed by Behind the Hedges, closed in late July; the deed only entered public records this month, hinting at legal constraints on the parties involved.
Further Lane is one of the nation’s priciest streets, and the property’s value per acre tops $13 million. An anonymous source told Behind the Hedges that the buyer is Ukrainian‑born billionaire Sir Len Blavatnik, who acquired the lot through the LLC Brise Lointaine. Blavatnik, a dual British‑American citizen with an English knighthood, has a net worth of $29.1 billion and owns Warner Music Group, among other ventures. His early wealth stemmed from post‑Cold War Russian privatization.
The estate’s history dates back to 2005 when former Yahoo! and Warner Bros. CEO Terry Semel purchased the oceanfront parcel via an LLC, paying $43 million— $1 million above asking—to Blackstone founder Stephen Schwarzman. Semel’s acquisition gave the 8.5‑acre lot, which stretches from Further Lane to the waterfront, a unique appeal. The original rustic five‑bedroom cottage now functions as a guesthouse, while a contemporary main house—square footage undisclosed—serves as the property’s centerpiece. The fate of the existing structures remains uncertain, as high‑net‑worth buyers often opt for teardowns.
Blavatnik’s new home sits beside Larry Gagosian’s mansion and is part of a cluster of high‑profile residents, including Lorne Michaels and Jerry Seinfeld. The couple also owns a smaller residence on Further Lane and an oceanfront compound on Bridgehampton’s affluent Dune Road, cementing their status as East End locals.
This $115 million sale marks the first Hamptons transaction over $100 million in nearly two years, according to Behind the Hedges. While larger parcels have sold for more when combined, this deal remains the priciest single parcel ever traded. The previous record was a $105 million sale of a 42‑acre Watermill estate in 2021.
