Sagaponack, NY

Hopping Farmland and Pike Farm Stand

Project Type

Farms for the Future

Acreage

7.6

Things to do

Visit a Farmstand

Access

Limited

Address
82 Sagg Main St, Sagaponack, NY 11962

About

In the Summers of 2007 and 2008, over 3,000 East End residents and visitors signed up to "Save the Farm Stand" operated on Sagg Main in Sagaponack by Jim and Jennifer Pike. Through the perseverance and support of many, we were able to purchase the farmland in 2010, and then in the Spring of 2011 transfer ownership of the farmland to Jim and Jennifer Pike. 

In March 2010, the Trust purchased the 7.6-acre property for $6 million.  At the closing, the Trust simultaneously sold the development rights on the property to Suffolk County and the Town of Southampton for $4.3 million, under a 70/30 split. The Trust, with donations from over 300 contributors and the Northeast Land Trust Consortium (an initiative of The Pew Charitable Trusts), brought an additional $1 million to the closing.  

Although the Trust was short of the full purchase price, the Hopping family agreed to accept a final installment payment of $600,000 by March 15, 2011. In December 2010, using funds from its revolving fund, the Trust made the final installment payment ahead of schedule.  With a remaining shortfall of about $497,000, the Trust was able to use the proceeds of a neighboring farmhouse to provide the funds necessary to replenish the revolving fund as well as provide the Trust with the financial ability to pursue a similar farmland project in the area.  

The Hopping acquisition was nearly three years in the making, beginning with a community outreach campaign to “Save the Farm Stand” in the summers of 2007 and 2008.  Over 3,000 East End residents and visitors signed a petition in support of the acquisition. In the fall of 2007, the Trust made an initial offer of $8.23 million to acquire the property, which the Hoppings accepted in the Spring of 2008 (the property was initially put on the market for more than $10 million).

Over the next year, the Trust pursued a community fundraising campaign, while simultaneously negotiating with Suffolk County and the Town of Southampton to acquire the development rights on the property for about $6.5 million. In the fall of 2008 through most of 2009, the global recession had a profound effect on private fund raising, the availability of public funds, and land values.  Faced with a new economic reality, the Trust and the Hopping family agreed to renegotiate and the price for the land was reduced to $6 million. 

By the end of 2009, both the County and the Town agreed to purchase the development rights at a reduced price of $4.3 million under a 70/30 split (County/Town). With about $1 million of the $1.7 million balance necessary to close, the Trust made its first installment payment to the Hopping family in March 2010. Title was conveyed to the Trust at that time. The final installment payment, representing a balance of about $600,000, was to be made no later than March 15, 2011.

Late in 2010, the Trust prepaid the final installment by using funds from its revolving fund established by The Peter J. Sharp Foundation. The revolving fund provides the Trust with capital to acquire land on a temporary basis until it can be repaid by other sources. The final payment was made in December of 2010 and enabled the Trust to save $8,000 in interest payments and to fulfill our obligation to the Hopping family.

Unfortunately, the value of the protected land was still beyond the reach of the Pikes. Due to the funds raised from the community, the Trust was able to reduce the per acre value of the land to a price the Pikes could afford by further restricting the farmland. 

These additional restrictions required that 60 percent of the farmland be used for food production with an affirmative farming covenant, a cap on appreciation, and resale to qualified farmers in the future. 

In April 2011 Peconic Land Trust announced the sale of 7.6 acres of farmland on Sagg Main Street in Sagaponack to Jim and Jennifer Pike.

The transfer of the property to the Pikes fulfilled the original intent of the acquisition – to identify new techniques that enable productive farmland to be affordable and accessible to farmers over time and to ensure the survival of a thriving agricultural operation in the midst of a village considered to have the highest land values in the United States.

Hedges Farm House

In early 2010, the Trust was given a 1930 4-Square, Prairie-style farmhouse that was originally located on the Barsczeski farm on Hedges Lane and proposed to be demolished. The Village of Sagaponack, including its Architectural and Historic Review Board, supported the protection of this farmhouse originally built for Percy Hedges. It is a structure indicative of Sagaponack’s agricultural heritage and rural character.

The farm house was relocated to a 10-acre property on Hedges Lane (approximately 650 feet from its original location) that is owned by the South Fork Land Foundation, a supporting organization of the Peconic Land Trust. The Trust applied to the Village of Sagaponack for a subdivision that provided the house with a separate 1-acre lot. The Trust in 2011 sold the farm house on its own 1-acre lot subject to a facade easement and other restrictions to ensure that its character is perpetually protected. The remaining 9-acres of farmland was then protected through a donation of a conservation easement.

The proceeds from the sale of the farmhouse was split between the Peconic Land Trust and the South Fork Land Foundation. Both organizations have used the proceeds from this sale advance other conservation projects in the area. In the case of the Trust, the proceeds were used to repay the revolving fund used to complete the Hopping acquisition as well as provide funding that will enable farmers to acquire protected farmland at affordable prices.

Partners
South Fork Land Foundation

Visitor Information

The Pike Farmstand is open in season, from June through October.

Visit their website for more information!

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Hopping Farmland and Pike Farm Stand

82 Sagg Main St, Sagaponack, NY 11962

Things To Do

Visit a Farmstand