One of Montauk’s newest mansions lists for $27.5M

Real Estate

A new Montauk beach manse has hit the market for $27.5 million.

The six-bedroom home, at 40 Deforest Road, looms over the public Ditch Plains Beach — on the site of the former East Deck Motel.

It’s one of four lots that are about an acre each where the low-rise motel, formerly populated by surfers, once stood.

This is the first of three homes to be developed by Alden Global Capital’s Randall Smith and Heath Freeman, known as the “hedge fund vampires” for bleeding American newspapers dry. 

The two bought the properties through shell companies.

A fourth lot with a different owner may be added to the development, dubbed On the Break, sources say.

The town of East Hampton changed zoning laws to allow the homes to be built despite public opposition that had already shut down a prior investment group — led by Vitamin Water’s J. Darius Bikoff — plan to build a private club on the site of the former motel, which was demolished in 2016.

The 4,800-square-foot residence was built this year.


The home comes with a pool.
The home comes with a pool.
Kaitlyn Magro at Bespoke Real Estate

A dining area stands next to the kitchen.
A dining area stands next to the kitchen.
Kaitlyn Magro at Bespoke Real Estate

A plush sitting area.
A plush sitting area.
Kaitlyn Magro at Bespoke Real Estate

The property doesn't shy from ocean views.
The property doesn’t shy from ocean views.
Kaitlyn Magro at Bespoke Real Estate

The parcel stands over the beach.
The parcel stands over the beach.
Kaitlyn Magro at Bespoke Real Estate

Designed by architect Boris Baranovich, details include white oak floors, two gas fireplaces, sliding glass doors that open to decks, plus stairs that lead down to the iconic beach and surfer haven.

The listing brokers are Bespoke’s Cody Vichinsky and Sam Kelly. 

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