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$38 Million Hamptons Mansion Uninhabitable Due to Lack of Certificate of Occupancy

The luxurious property, neighboring Steven Spielberg, faces legal and environmental issues, preventing new owners from residing.

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Overview

  • A $38 million mansion in New York's Hamptons, near Steven Spielberg's home, is on the market but cannot be legally inhabited due to missing occupancy permits.
  • Owner Harry Macklowe faces legal challenges and fines for illegal land clearing and construction, endangering local wetlands.
  • Macklowe was fined $2 million but avoided criminal charges, with the property's legal status complicating its sale.
  • Real estate experts suggest the mansion is overpriced at $38 million, estimating its value between $12 to $15 million.
  • The property's listing is managed by Paul Brennan, despite its inability to house new owners due to expired occupancy certificates and unpaid fines.