Cobb Isle Road. Few Hamptons' addresses have the prestige of this highly coveted private enclave. This is an unparalleled rare offering of a superb Water Mill South 1 +- acre waterfront parcel with breathtaking water views over Mecox Bay. The existing 2,800 sq ft, 3 bedroom home has reached its expiration and is primed for a full renovation or endless possibilities of redevelopment from the ground up. Situated 1.6 miles from the Atlantic Ocean at Flying Point Beach, the property benefits from established landscaping for privacy while still allowing potential views to the south towards the ocean. Capable of yielding a sizable waterfront residence with a pool and pool house, this is the opportunity of a lifetime to create a timeless legacy or significant modern residence. Enjoy various water activities from your front door and easy access to the Village of Southampton. Surrounded by exquisite estates, the investment class of this location will stand through the test of time.