The sprawling property is legally uninhabitable due to a lack of proof of occupancy

A luxurious mansion near New York’s Georgeka Pond has hit the market for a staggering $38 million, attracting a slew of buyers. The property has famous neighbors such as legendary film director Steven Spielberg, but there’s a major problem. The new owners can’t live in the mansion, at least for now.

The sprawling property is legally uninhabitable as it does not have a certificate of occupancy, meaning any new owners will not be allowed to move in. new york post the report said.

Here’s why:

Harry Macklowe, a prominent New York City developer who owns the property, allegedly violated East Hampton Village regulations and endangered surrounding wetlands by conducting illegal land clearing and construction without proper permits.

The Manhattan district attorney said at the time that although McCullough was fined $2 million, he escaped criminal charges because the city could not prove he had “criminal intent.”

“This is crazy.” He tears up the deck and does whatever he wants. He illegally clears land and builds without permits — just like he did on West 44th Street,” an inside source said.

“This home is also highly leveraged. Asking for $38 million doesn’t make sense. There are legal complications with this home, and it’s not even on a pond. It’s not worth more than $12 to $15 million, ” the source added.

The four-bedroom home sits on 2.7 acres at 64 West End Avenue in East Hampton and comes with a swimming pool. Real estate agent Paul Brennan is managing the listing.

See pictures here:

Thomas Preiato, Village of East Hampton Building Inspector postal While Mr. McCullough was able to sell the house, no one could legally live in it due to an expired residence permit and unpaid fines.

“He had a certificate of occupancy for the house in 2017. But because he has not paid all the fines, that certificate is no longer valid. “He put the wetlands at risk. We have wetlands regulations for a reason. That’s concerning,” Mr. Praiato said.