N
ick Capstick-Dale, a prominent UK developer and landlord, has acquired an East Hampton property on Further Lane for $12 million. The 1.18-acre estate, which borders the Maidstone Golf Club and Hook Pond, was sold off-market at the end of last year.

    The buyer, who is listed as one of the UK's largest private developers with a net worth of approximately $605 million, demolished the existing 100-year-old residence to make way for a new home. The property was represented by Paul Brennan and Martha Gundersen, who also recently facilitated a $70 million sale on Further Lane.

    The new construction will be handled by Ben Krupinski Builders, with plans to build an 11,000-square-foot traditional-style home that blends into the surrounding landscape. According to Brennan, the finished product will be "stunning."

    The property had been owned by Leon Jaroff and his wife Mary Kay since 1991, after they moved from Atlantic Avenue in Amagansett. The sale was a rare opportunity for the buyer, who has long rented in the Hamptons but now plans to make the area their permanent residence.

    Gundersen highlighted the property's unique features, including its views over the Maidstone Golf Course greens and "awe-inspiring sunsets" over Hook Pond. With the demolition of the old house complete, construction on the new home has begun, marking a significant change for the East Hampton neighborhood.