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Water Mill North Land for Sale With Large Building Envelope Set on a generous 80, 000 +/- sq. ft. parcel in Water Mill North, this vacant lot off Noyac Path offers a rare opportunity to build a substantial estate in an area defined by high-value neighboring properties. With CR-40 zoning and an expansive building envelope, the property is well suited for a significant new residence with resort-style amenities. Per the owner, the property may support approximately 14, 000 +/- sq. ft. of total built space, inclusive of a main residence, finished lower level, garage or courtyard areas, and a pool house, subject to zoning, permits, and final approvals. A potential layout could accommodate 8 bedrooms, with a primary suite on the main level, additional guest rooms on the second floor, and further space in the lower level. The grounds offer ample room for a pool, tennis or padel court, and expansive lawn space, creating the opportunity for a true Hamptons compound. Interior amenities such as a media room, golf simulator, fitness area, and playroom can be incorporated to align with today's luxury lifestyle. A compelling opportunity to build new in a sought-after Water Mill North location, with strong surrounding sales supporting long-term value.
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Our Executive Mortgage Banker:
$2,950,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $2,360,000 | $2,360,000 | $2,360,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.235% | 6.058% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $13,215 | $14,340 | $19,756 |
| Total Monthly Payment | $13,340 | $14,465 | $19,881 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.