What Is Tyndal Point Really Worth?

by Deidre Woollard (RSS feed)
Jun 27th 2009 at 8:01AM

Just how much is relatively undeveloped land in the Hamptons worth? We've seen the Tyndal Point property on the market for several years. The 55-acre property first hit the market in 2007 for an astounding $80 million. Ah those were heady days. Newsday's Real LI reports that the property, which was priced at $75 million last year, is now down to just $49.9 million. Real LI reports that Scott Strough of Strough Associates says that since the price reduction he's had major interest from a variety of sources.

The land, which has 3,000 square feet of beachfront, can be subdivided into three estate parcels of two lots each. Right now there is a main house and two additional residences on the property. There are also two deepwater docks. The owner of Tyndal Point is retired lawyer Robert Rust, who inherited the property from his aunt. She paid about $200,000 for the land more than 50 years ago.

Gallery: Tyndal Point