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A thin ribbon of East Hampton land 1,885 feet long and just one foot wide went on sale in late spring for just $10. But by the time a fierce bidding war had subsided, the property—acquired by Suffolk County a decade ago over nonpayment of taxes—had sold for $120,000.
The news that Marc Helie had successfully outbid fellow Manhattan financier Kyle N. Cruz for the strip of land caused a stir when it was announced on Wednesday.
Suffolk’s property manager told Newsday the bidding war was unprecedented.
“We’ve had one or two pieces start off at $400 and maybe go to $10,000, but never like this,” Wayne R. Thompson said. “But you know what water’s worth . . . You can say, ‘Oh, yes, I have a right of way to the water.’ “
The land connects the Montauk Highway to the ocean in Napeague. Helie’s victory means that Cruz would have to walk on his property to reach the beach.
