The late gallery owner Barbara Gladstone was known to have an eye for talent and to collaborate with celebrities from the art world such as Robert Rauschenberg and Keith Haring.
Apparently she also had an eye for real estate. Her sprawling bayfront home in the hamlet of Cutchogue sold for $11.2 million, setting a record on Long Island’s North Fork for the sale of a single-family home. The sale was conducted by Gladstone’s estate.
The house at 12120 New Suffolk Avenue hit the market shortly after Gladstone’s death in June 2024, asking $12 million. After an initial contract signed in January 2025 fell through, Bridget Elkin of Compass and her husband Eric found another buyer in September who closed on the property today. Kristy Naddell of Douglas Elliman brought the buyer.
The area’s previous top deal, a waterfront home in neighboring Mattituck that sold for $10 million last year, served as a point of comparison for the home’s pricing, according to Elkin. She also sold an $8 million home in Cutchogue earlier this year, setting a city price record.
“These groundbreaking transactions broadly reflect the North Fork’s evolution into a more mature coastal market, and are very nearly approaching Hampton’s mid-market benchmarks,” she said.
The deal is a highlight for a stretch of land where values have skyrocketed in recent years as city residents moved east, many seeking the pastoral tranquility of the North Fork instead of the bustling and scenic South Fork.
“People see the value here… it’s a somewhat saturated market on the South Fork,” Elkin said. “We have a little bit more of an unflashy appeal.”
Gladstone bought the house in 2012 for $5.5 million. She undertook a meticulous renovation with the help of local designer Hadley Wiggins, keeping the home’s shingle-style summer cottage aesthetic intact.
The 7,500 square meter house sits on a 1.2 hectare plot with a 40 meter bay that provides direct access to a private beach. The first floor features a waterfront living room and dining room with fireplace alcoves and a screen porch and an outdoor dining room and kitchen.
The primary suite on the second floor has an en suite bathroom, multiple walk-in closets, a dressing room and a sitting room with an oversized fireplace. The rest of the floor has five other bedrooms, a library, an office, multiple wet bars and five bathrooms.
A gunite pool overlooks the water and bayside lawn. A beachfront carriage house includes a great room, home theater and exercise room.
Historically known for its more modest home nestled among acres of farmland, the North Fork has seen a flurry of activity in the wake of the pandemic that has continued unabated this year.
Prices have risen sharply since 2020, culminating in the average sales price crossing the million-dollar threshold earlier this year. data from valuation agency Miller Samuel.
Gladstone, who died last year aged 89, had another of her properties set a sales record earlier this year, albeit a heavily reserved one. Her Annabelle Selldorf-renovated townhouse in Chelsea sold in August for $13.1 million, equating to 2,980 square feet per square foot, a record for a resale of a townhouse in the area.
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