Dune Road home sells for $35M

A financier who lives in Puerto Rico must’ve not felt the need to hang on to a home on Bridgehampton’s storied Dune Road.

Parplus Partners founder James Carney sold the oceanfront estate for $35 million, or $6,364 per square foot, the Wall Street Journal reported. The buyer of the property was not disclosed and the address could not immediately be determined for the off-market transaction. 

The one-acre parcel is tucked between the Atlantic Ocean and Mecox Bay. Built only four years ago, the house is 5,500 square feet with six bedrooms, a butler’s pantry and a chef’s kitchen. 

Additional features include 3,000 square feet of deck space with outdoor showers, an outdoor kitchen and a wood-burning fireplace, along with a roof deck complete with its own kitchenette. The property also has a four-car garage and an infinity pool.

Carney purchased the property in 2013 for $8.8 million. The home pulled in more than $1 million in rental income per year, according to listing materials from Douglas Elliman’s Martha Gundersen and Paul Brennan.

Hedgerow Exclusive Properties brokered the sale, which included assistance from Douglas Elliman’s Erica Grossman and the Corcoran Group’s Catherine Juracich.

Carney didn’t comment to the outlet on the sale, but the veteran trader had a rough go of it a few years ago. His firm closed in 2020, only three years after it opened, according to Institutional Investor. The company’s losses were reportedly tied to $200 million in losses at ABN Amro’s clearing business.

Dune Road has seen its fair share of expensive sales in recent years. Two years ago, online retail mogul Michael Rubin bought Ziel Feldman’s $50 million mansion at 187 Dune Road in an off-market deal. The property had lost sold 21 years earlier for only $4.4 million.

More recently, an oceanfront Bridgehampton home on Surfside Drive went into contract for $25 million. It nearly rivaled the square footage price of Dune Road’s latest sale, at $6,250 per square foot.

— Holden Walter-Warner