North haven Hamptons Rush Property

Photo by Doug Kuntz

I’m not exactly sure how to feel about this.  Sure, part of me is pleased because I live a few hunderd yards away, so it must have positive impact on MY property value. But, getting my mind around $80 million for this property…hmmm.

Maycroft, the 45 acre piece that we listed for $25 M sold for $19-$20 M two years ago. Sure, it doesn’t have the same amount of waterfront as does the Anderson (Rust’s aunt) property.  Could 80 be the new 20??? md

In the Region | Long Island


Published: February 11, 2007 

In past years the village has made several attempts to contact the owner, Robert W. Rust, to discuss preserving the land under a conservation easement, according to Frederick Stelle, an architect and North Haven village trustee, who lives near the property. But Mr. Rust, 78, a former United States attorney in Florida, who inherited the property from his aunt a few years ago, never replied, Mr. Stelle said…

One of the issues he may be facing is the recent revaluation by the Town of Southampton, which encompasses North Haven. The town is trying to raise assessments to reflect full market value, resulting in huge tax increases for many residents. Since 2003, Mr. Rust’s property taxes have more than doubled, to more than $164,000 a year, according to the Southampton town assessor’s office.But “if he’s really motivated by the property tax situation, then there’s a way to deal with that,” said John V. Halsey, president of the Peconic Land Trust.        more