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15 Little Cobb Rd, Water Mill, NY, 11976

4beds
3baths
3,059sqft
$8,500,000
$2,779price/sqft
$46,919/moest. monthly cost
$1,876,760/yrincome needed

About This Home

Perched on a hill overlooking breathtaking Mill Creek and Mecox Bay, 15 Little Cobb Road offers a rare combination of panoramic waterfront views, privacy, and history in the heart of Water Mill. Set in an X flood zone with no wetlands and fully bulkheaded, this exceptional property enjoys peace of mind along with one of the most beautiful outlooks on the East End. Once home to Toby and Dan Talbot, the pioneering couple behind Manhattan's legendary art-house theaters including the New Yorker and Lincoln Plaza Cinemas, the residence carries a quiet cultural legacy. Here, far from the projection booths of the Upper West Side, the Talbots spent their summers overlooking the same waters that have drawn artists, writers, and filmmakers to the Hamptons for generations. The home is designed for relaxed waterfront living, with a waterside stone pool, brick patio, private floating deck, covered porches, and porte cochere, all positioned to capture the extraordinary setting. Inside, the main level offers warm and inviting living spaces, including a dining room and sunroom each with wood-burning fireplaces, a bright kitchen with breakfast nook, and a private guest suite with screened porch. Upstairs, the primary suite commands sweeping views over the bay, joined by additional guest bedrooms, office space, and flexible third-level rooms, with room to add a full basement if desired. Just minutes from Southampton and Bridgehampton Villages, yet set in a peaceful waterfront enclave, this is a home that reflects the true spirit of Water Mill timeless, elevated, and deeply connected to the landscape. A rare opportunity to own not only a beautiful waterfront property, but a piece of Hamptons cultural history.

Getting Around

35
WalkingCar-Dependent
0
TransitVery Limited Transit
40
BikeSomewhat Bikeable

Schools

6/10
Southampton High SchoolGrades 9-121.5 mi
6/10

Construction

Condition

  • Year built: 1910

Type & Style

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

Interior

Basement

  • Has basement: Yes
  • Basement: Yes

Bedrooms & Bathrooms

  • Bedrooms: 4
  • Bathrooms: 3
  • Full bathrooms: 3

Features

  • Fireplace: Yes

Interior Area

  • Total structure area: 3,059
  • Total interior livable area: 3,059 sqft

Property

Details

  • Parcel number: 0900114000200043000

Features

  • Stories: 2
  • Private pool: Yes

Lot

  • Lot size: 1.40 Acres

Parking

  • Parking features: None

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 $42,980$515,760
Home Insurance *$3,297$39,564
Property Taxes $137$1,644
Electricity $505$6,066
Total$46,919$563,028
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$1,608,651/yr
40% on housing$1,407,570/yr
45% on housing$1,251,173/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

$2,779This listing

vs Other Active Listings

Avg $/sqft

ZIP 11976$2,003
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)

Price History

DateEventPrice
2026-03-24Listed for sale$9,500,000

For Sale by Agent

AgentMartha Gundersen - Associate Real Estate Broker
BrokerageDouglas Elliman Real Estate

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