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Tuesday, February 20, 2024

Late Rail Tycoon’s Compound Listed For $60 Million, Becomes Second-Most Expensive Property In Hamptons

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The East Hampton estate built and owned by James H. Evans, former chairman and CEO of rail giant Union Pacific, is on the market for $60 million.

His former estate may face challenges of its own, as the Hamptons housing market grapples with a decline in sales, particularly in the high end. On the higher end, 16 homes have been sold for $10 million or more, down from 20 as of July in 2018.

Lauded as an American success story, Evans grew up in the Depression-era south and worked his way up to eventually graduate from Kentucky’s private Centre College. After signing up with the U.S. Navy during World War II, and later trying his hand at a law career, Evans joined the Union Pacific Railroad in 1965 as a director.

Its sister-lot, meanwhile, sports a smaller cottage with three beds, 2 1/2 baths and its own swimming pool. Built in the 1950s, the guesthouse is one of the oldest homes in the Further Lane area. East Hampton Village was settled in the 1680s, the area toward the ocean was left as farmland for centuries.

The roughly 6.7-acre, two-lot property at 32 Windmill Lane is now second on the list of most expensive Hamptons properties, according to Out East, topped only by a $150 million listing in Southampton. Lauded as an American success story, Evans grew up in the Depression-era south and worked his way up to eventually graduate from Kentucky’s private Centre College. After signing up with the U.S. Navy during World War II, and later trying his hand at a law career, Evans joined the Union Pacific Railroad in 1965 as a director.

For those looking to do their own thing, the estate’s zoning would allow a 12,477 square-foot oceanfront residence and 6,040-square-foot guesthouse, plus finished basements for both.

The roughly 6.7-acre, two-lot property at 32 Windmill Lane is now second on the list of most expensive Hamptons properties, according to Out East, topped only by a $150 million listing in Southampton. Its five-bed, six-bath main house includes a full-floor suite, along with amenities like a 50-foot heated pool and beach access via a 300-foot private path.

Evans bought the property in 1986 and commissioned builder Pat Trunzo to construct its main house and architect Alfred Scheffer to expand the guesthouse, according to Sotheby’s International Realty agent Frank Newbold, who is sharing the listing with colleague Valerie Smith.

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