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71 Cobb Ln, Water Mill, NY, 11976

13beds
19baths
17,173sqft
$39,950,000
$2,326price/sqft
$274,278/moest. monthly cost
$10,971,120/yrincome needed

About This Home

Set on over 9 acres with 3,173 +/- feet of private shoreline on Burnett Creek, this generational estate offers an opportunity like no other in the Hamptons. Located along a private peninsula on Mecox Bay, the property presents the ultimate in setting and exclusivity. Designed by renowned architect Barnes Coy Architects, the 17,173 +/- sq. ft. residence has been meticulously maintained and continuously updated over the past two decades. The main house is spread across two levels presenting open spaces and intelligent architectural aspects throughout. With design elements that harness natural light across each area of the home, this ample residence is bright and enjoyable all year round. The home affords multiple living areas, each of which showcase tranquil bay vistas through large windows adorned with brilliant trim detailing. A fully equipped eat-in kitchen offers outstanding water views with a breakfast area capable of seating 10. The separate formal dining room offers additional seating for all types of hosting and entertaining. Space for guests and staff is plentiful, with a total of 13 bedrooms, 13 full and 6 half bathrooms, and additional staff quarters. With expansive grounds, the backyard presents luxurious amenities such as a tennis court accompanied by a tennis house, basketball court, saltwater gunite pool and spa, along with a two-level pool house inclusive of a commercial kitchen, gym, sauna, arcade, and pool side deck with all-weather dining area. A perfectly manicured walkway to the water's edge leads to the private dock which offers access to Mecox Bay. All of which create one of the most rare and unique offerings ever to come to market in the Hamptons. With a major redevelopment plan by award-winning design and architecture firm Ingrao Inc., the property can be completely modernized and updated. Inquire for additional details and floor plans.

Getting Around

2
WalkingCar-Dependent
0
TransitVery Limited Transit
27
BikeSomewhat Bikeable

Schools

6/10
Southampton High SchoolGrades 9-121.4 mi
6/10

Construction

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Basement

  • Basement: No

Bedrooms & Bathrooms

  • Bedrooms: 13
  • Bathrooms: 19
  • Full bathrooms: 13
  • 1/2 bathrooms: 6

Cooling

  • Cooling features: Central Air

Interior Area

  • Total structure area: 17,173
  • Total interior livable area: 17,173 sqft

Property

Features

  • Stories: 2
  • Private pool: Yes
  • Pool features: Heated
  • Exterior features: Tennis Court(s)
  • Has view: Yes
  • View description: Water
  • Has water view: Yes
  • Water view: Water
  • On waterfront: Yes
  • Waterfront features: Waterfront
  • Frontage type: Waterfront

Lot

  • Lot size: 9.11 Acres

Parking

  • Parking features: GarageAttached
  • Has garage: Yes

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Inland Flooding
    Inland FloodingRelatively High
  • Coastal Flooding
    Coastal FloodingModerate
  • Hurricane
    HurricaneModerate
  • Winter Weather
    Winter WeatherModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Inland Flooding
Coastal Flooding
Hurricane
Winter Weather
Tsunami

FEMA Declared Disasters in Suffolk County and New York

Flood
Severe Storm
Snowstorm
Straight Line Winds
Tropical Storm
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $202,008$2,424,096
Home Insurance *$15,500$186,000
Property Taxes $53,932$647,184
Electricity $2,838$34,056
Total$274,278$3,291,336
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$9,403,817/yr
40% on housing$8,228,340/yr
45% on housing$7,314,080/yr

New York FAIR Plan Programs

New York Property Insurance Underwriting Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 20,669Commercial: 1,556
Total Premiums$32.27M
Total Exposure$7.63B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 4.6%
4.6%
0%30.0%
Electricity Growth Rate10-year average: 7.1%
7.1%
0%15.0%
Property Taxes Growth Rate2-year average: 1.0%
1.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$2,326This listing

vs Other Active Listings

Avg $/sqft

ZIP 11976$2,013
Suffolk County$723

vs Homes Sold Last Month

Median $/sqft

ZIP 11976$1,141
Suffolk County$412

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-02-10Price change$44,500,000
2025-03-03Price change$47,500,000
2024-03-26Price change$52,500,000
2022-08-09Price change$59,950,000
2022-07-08Price change$64,000,000
2022-05-05Listed for sale$72,000,000

For Sale by Agent

AgentHedgerow Exclusive Properties - Real Estate Sales Person
BrokerageHedgerow Exclusive Properties

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