Because Bruce Ratner's new Hamptons beachfront getaway is exhibiting characteristics of blight (weeds, underutilizated, presumably vacant most days, etc.) it is vulnerable to seizure by eminent domain. Under current New York State law, removing those blight characteristics would be a public use justifying eminent domain.
Now, if we could only get a meeting with Sheldon Silver and the ESDC bigwigs to make it happen, we are certain we could come up with a better way to utilized Ratner's 2 acres of ocean front property.
Bruce Ratner Closes on $5M Hampton Bays Oceanfront Estate
Courtesy of a tip from our friends at PropertyShark, notorious real estate developer Bruce Ratner has closed on a $5 million Dune Road estate in Hampton Bays. The property spans two adjacent parcels, which together create a two acre oceanfront spread. At 4,200 SF, the home also boasts six bedrooms, an oceanfront pool, views of Shinnecock Bay, and a detached three car garage.
Ratner buys this estate after selling his $10 million Montauk estate in 2009. According to an older Post article, Ratner wanted to scale down a bit and move further west—all while staying on the ocean. After looking around in Quogue, he apparently settled on this place. Looks like his wildest dreams came true!
· Listing: 27 Dune Road [Corcoran]