Esha Soni, who designs luxury handbags and jewelry, bought and renovated the four-bedroom hilltop house a decade ago.
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Designer Esha Soni, whose sculptural purses and accessories are sold at stores like New York’s Bergdorf Goodman, bought and renovated this four-bedroom, four-bathroom house in Montauk, New York, 10 years ago.
The hilltop home enjoys “breathtaking views and spectacular sunsets,” according to Zachary Tunick of Douglas Elliman, one of the listing agents.
Its location overlooking Block Island Sound “also means you get 180-degree views,” he said. “And you hardly need air conditioning because the ocean breezes are so spectacular.”
The home’s location “on a quiet cul-de-sac ensures there is absolutely no road noise or drive-by traffic,” Tunick said. “But there are trendy restaurants and terrific seasonal shops within walking distance.”
With a designer’s touch from Soni, the home is “beautifully renovated,” Tunick said. “It can be taken to the next level, but it’s already very livable.”
Open-plan living, dining and kitchen spaces anchor the home’s main level, with water views from walls of windows. There is a wood-burning brick fireplace in the living room.
The kitchen, with a granite-topped island at its center, features Wolf appliances. The primary suite includes two closets, a foyer, a large bathroom and walkouts to the home’s broad wooden terrace. The main floor includes a second bedroom, office, pantry and mudroom.
The lower level—“which is not subterranean, because of the topography,” Tunick said—includes two more bedrooms, a bathroom, a living room and storage space.
“I love my house because the view of the water and the sunset, the wide-open space, and the lush, old trees create a deep sense of calm,” Soni told Mansion Global in an e-mail. “In the evenings, the white walls and floors reflect the colors of the sunset in a simple, beautiful way.”
Before launching her eponymous handbag line in 2022, Mumbai-born Soni designed accessories for labels including Ghurka, Michael Kors Collection, Ralph Lauren and Proenza Schouler. “
The bags feel like they could easily double as home decor,” enthused fashion blog WhoWhatWear in August.
Furniture is available by separate negotiation.
Stats
With four bedrooms and four bathrooms, this 3,400-square-foot house occupies a 0.88-acre lot.
Amenities
The large wooden deck, about 15 feet deep by 80 feet wide, features a mechanical canopy.
Talking Points
The 3,400-square-foot house “could easily get expanded to 6,000 square feet,” Tunick said. While there is no pool, the property is permitted for one; because of the home’s large legal setback, a new owner could also add a garage, Tunick said.
Neighborhood Notes
Montauk is on the eastern tip of Long Island’s South Shore, overlooking the Atlantic Ocean and the Block Island Sound.
While Montauk has a reputation for nightlife—the village is home to more than 50 bars—“there is a community within the community of very successful, sophisticated parents with kids in the incredible schools here,” Tunick said. “These are people at the top of their fields, but down-to-earth. Montauk is about a laid-back lifestyle.”
Celebrity residents have included Julianne Moore, Robert De Niro and Bad Company drummer Simon Kirke. A-listers like Taylor Swift and Leonardo DiCaprio have also reportedly hung out at local hotspots like The Surf Lodge.
Private airports nearby include East Hampton Airport, about 20 miles west, and Francis S. Gabreski Airport in Westhampton Beach, about 40 miles west. Midtown Manhattan is about 117 miles west.
Agents: Zachary Tunick, Nicole Tunick, Douglas Elliman
Rugged coastal drives and fireside drams define a slow, indulgent journey through Scotland’s far north.
A haven for hedge-fund titans and Hollywood grandees, Greenwich is one of the world’s most expensive residential enclaves, where eye-watering prices meet unapologetic grandeur.
Australia’s wealthy class is expanding fast, and Knight Frank says that a surge in billionaires is reshaping the nation’s luxury property market.
3 min
Australia’s luxury property market is being quietly reshaped by one of the most significant wealth expansions in the world.
According to Knight Frank’s latest Wealth Report, the country’s billionaire population is set to grow by 77 per cent over the next five years, rising from 48 to 85 individuals.
That surge sits within a broader wave of wealth creation. Ultra-high-net-worth individuals, those with more than US$30 million, are forecast to increase by nearly 60 per cent to over 26,000 Australians by 2031.
Globally, the pace is accelerating. The report reveals that 89 new ultra-wealthy individuals are created every day, a figure that underscores a structural shift in capital formation rather than a cyclical upswing.
For luxury property markets, this is not just a headline number. It is a demand driver.
Australia’s wealth story is increasingly underpinned by diversification across resources, finance, technology and services, creating a depth of private capital that is both mobile and strategic.
And mobility is key. The ultra-wealthy are no longer tied to a single market. Instead, they are operating across multiple global hubs, maintaining footholds in cities like London, New York and Singapore, while using Australia as a stable base.
In this environment, real estate becomes less about shelter and more about positioning. Trophy assets remain desirable, but capital is increasingly being deployed across the full risk spectrum, from long-term holds to value-add opportunities. For Australia, the implications are clear. As wealth expands, so too does the expectation of product, and the locations that can attract it.
The billionaire effect
While property remains central to wealth preservation, the latest data shows that capital is increasingly spreading across luxury asset classes, albeit with a more disciplined approach.
Knight Frank’s Luxury Investment Index recorded a modest 0.4 per cent decline in 2025, signalling a stabilisation phase after several years of correction.
But beneath that headline number is a more telling shift. Collectors are moving away from speculative buying and toward assets defined by rarity, provenance and cultural significance.
Impressionist art led the market, rising 13.6 per cent, buoyed by landmark sales including a US$236 million Klimt painting. Watches also performed strongly, up 5.1 per cent, driven by continued demand for brands like Patek Philippe and Rolex.
At the same time, more volatile categories have corrected. Whisky values fell 10.9 per cent, while parts of the fine wine market have softened following pandemic-era highs.
Perhaps the most notable trend is behavioural. Younger investors are entering the market through fractional ownership platforms, gaining exposure to high-value assets that were once out of reach.
For property, the parallels are clear. The same focus on scarcity, narrative and long-term value is increasingly shaping buying decisions at the top end of the residential market.
Global wealth
The growth in billionaires is not just increasing demand, it is changing where that demand is directed.
In Australia, Brisbane has emerged as one of a handful of global cities experiencing rapid change in its luxury positioning. The city’s transformation is being driven by infrastructure investment and the 2032 Olympics, with top-end apartment prices rising from around US$6 million to more than US$10 million in just 12 months.
Luxury price growth has remained steady, with Brisbane rising 2.1 per cent in 2025, while the Gold Coast recorded 2.8 per cent.
At the same time, buying power is tightening. US$1 million now buys 5 per cent less in Brisbane than it did five years ago, reflecting the upward pressure on prime markets.
The trend is not confined to capital cities. Regional lifestyle markets are also capturing attention. Geelong’s waterfront has been identified as one of the world’s hottest luxury residential markets, driven by a combination of coastal amenity, infrastructure and relative value.
In these markets, pricing is no longer the sole driver. Lifestyle, accessibility and long-term growth are increasingly shaping buyer decisions, particularly among globally mobile wealth.
Alternative luxury assets
Beyond residential property, high-net-worth individuals are continuing to diversify into alternative assets that combine lifestyle and investment potential.
One of the most compelling examples is vineyard investment. Knight Frank’s Global Vineyard Index highlights the Barossa Valley as one of the best-value wine regions globally, where US$1 million can secure more than 18 hectares of land.
Despite a 10 per cent decline in land values over the past year, the broader outlook remains positive, particularly as the global wine industry shifts toward premiumisation.
This “trading up” trend is seeing consumers favour higher-quality, provenance-driven wines over mass-market products, reinforcing the long-term appeal of established regions like the Barossa and Eden Valleys.
For investors, the appeal lies in the intersection of lifestyle and capital preservation. Vineyard assets offer not only production potential, but also a narrative — something increasingly valued in a market where experience and authenticity carry weight.
