What's Happening?
A newly constructed mansion in the Hamptons, built on the site of a former rental property where Angelina Jolie and Brad Pitt once stayed, is now on the market for $35 million. Located at 495 Ox Pasture Road in Southampton, the property is expected to be completed by the end of the year. The original home, built in 1995, was purchased for $12.7 million in 2022 and later demolished to make way for the new construction. The new residence spans approximately 12,000 square feet and includes 12 bedrooms, 10 baths, and a range of luxury amenities such as a pool, pool house, and tennis court. The property is designed by Martin Architects and built by Koral Brothers Builders.
Why It's Important?
The listing of this high-profile property highlights the ongoing demand for luxury real estate in the Hamptons, a region known for its affluent residents and exclusive properties. The transformation of the site from a teardown to a multimillion-dollar mansion reflects broader trends in real estate where prime locations are redeveloped to maximize value. This development could influence property values in the area and attract further investment in luxury real estate. The involvement of high-profile figures like Jolie and Pitt adds a layer of celebrity allure, potentially increasing interest and competition among buyers.
What's Next?
As the property nears completion, it is likely to attract interest from wealthy buyers looking for exclusive homes in the Hamptons. The real estate market in the area may see increased activity as a result, with potential ripple effects on nearby property values. The listing agents, Tim Davis and his son Thomas Davis, may leverage the property's celebrity history and luxury features to market it to a global audience. The sale of this property could set a new benchmark for luxury real estate in the region.
