A trailer built on land purchased for only $300 in 1976 is on sale by the fisherman owner for a reported $1.1 million.
Back in 1956, Richard Lester purchased the 0.36 acres of land for just $300 and has lived in the 700-square-foot trailer with his wife ever since. The plot, which sits in an exclusive enclave in the Hamptons beside multimillion-dollar homes owned by some of the biggest celebrities in the world, is now for sale for a whopping $1.1 million.
“I had to work my ass off to get that,” Lester, 79, told the New York Post of the land.
The land sits between homes owned by celebrities like Jerry Seinfeld and Paul McCartney, and as realtor Ray Lord of Douglas Elliman Real Estate explained to the New York Post, the price is mainly just for the land and not the actual trailer.
“Erase the trailer from your mind and it’s $1 million for land,” Lord explained. “No one, I imagine, would build less than a three-bedroom, three-bathroom house [on the land].”
Lester himself is just as shocked as anyone by the price of the land, saying he thinks it’s “ridiculous” that it is selling for so high. Still, it’s undeniably amazing that a plot of land purchased for $300 can increase in value so dramatically.