Nearly 120 acres of Mattituck and Cutchogue farmland has changed hands in a multi-million dollar deal that will surely be one of the North Fork’s largest real estate transactions this year.
The development rights of the property, located along Route 48, Elijah’s Lane and Oregon Road, are intact.
The parcels, which include an abandoned vineyard and a handful of buildings, sold for $8.5 million, according to Joseph DiVello of Albertson Realty, who negotiated the deal.
He declined to identify the buyer.
“I couldn’t think of a better person to acquire it,” said Mr. Divello. “A lot of people are looking to invest in farmland in a conservative market place, which is what the North Fork has to offer.”
Photo: Nearly 120 acres of open space in Mattituck and Cutchogue, now the site of an abandoned vineyards, has been sold for $8.5 million. (Credit: Vera Chinese)