An exceptional south of the highway offering in one of Water Mill's most coveted locations, 117 & 127 Narod Boulevard presents a rare opportunity to acquire two separate, adjoining parcels being offered together for the first time. Whether envisioned as a singular estate compound or maintained as two distinct holdings, this unique property offers extraordinary flexibility for builders, investors, and discerning end users alike. Spanning approximately 25,000 square feet combined, the two pre existing lots are each improved with their own tax lot designation, creating a compelling canvas for redevelopment. One parcel is currently improved with a residence dating to the 1920s, while the combined offering presents the potential to merge the properties and create a substantial custom estate with expansive grounds, pool, pool house, and luxury amenities, all in a premier Hamptons setting. For those seeking a multigenerational retreat, the separate lots offer the opportunity to maintain independent residences while enjoying the privacy and convenience of a shared compound. Builders and developers will recognize the value of the existing lot configuration and the potential associated with these pre existing non conforming parcels. Beyond the property's exceptional redevelopment potential, the location embodies the very best of Hamptons living. A nearby bay access point offers an easy launch for paddleboards and kayaks onto Mecox Bay, while some of the region's most sought after ocean beaches are just moments away. Water Mill and Bridgehampton Villages, with their renowned restaurants, boutiques, and farmstands, are only minutes from your doorstep, creating an unmatched blend of waterfront recreation, convenience, and luxury. Being offered and sold as is, this is a truly rare opportunity to create a legacy property in one of the Hamptons' most desirable enclaves, where location, scale, and future potential come together.