Real LI

Could director Steven Spielberg be expanding his Georgica Pond real estate holdings?

Rumors are swirling in East End real estate circles that a home on Apaquogue Road in East Hampton village will be Spielberg’s newest acquisition. Spielberg already owns a compound two lots over from this one, which insiders say is being purchased by him through California-based attorney Gerald Breslauer.

Breslauer, whose company's name appears on property records for the parcel that Spielberg already owns, declined to comment.

The asking price for the 4,500-square-foot, six-bedroom traditional dwelling was just under $20 million. An agent familiar with the 3-acre pondfront property said that it is likely being purchased as a tear-down. “It’s all about land value,” the agent says.

The listing involved a four-way exclusive with the Corcoran Group, Sotheby’s International Realty, Brown Harris Stevens, and Prudential Douglas Elliman. Sources close to the deal say they've been told Spielberg is the actual purchaser of the property.

Property owned by the estate of philanthropist Arthur Ross, who died in September at the age of 96, sits between Spielberg's current property and the new one.

Spielberg's neighbors include writers Nora Ephron and Nick Pileggi, who reportedly rented their home this summer to Paul McCartney's ex, Heather Mills. Rocker Jon Bon Jovi is also said to own a home in the area.