Real LI

It seems all the recent bad economic news has not dimmed the expectations of those in the Hamptons real estate game. A 4.08-acre property on Meadow Lane in Southampton is set to hit the market soon with a pricetag of $38 million, sources tell Newsday.

According to public records, the oceanfront mansion was owned by Virginia Salomon, who died last month. She was married to Citigroup’s honorary chairman William R. Salomon for more than 70 years. He was former managing partner at Salomon Brothers, Inc. before it became part of Citigroup. The couple has a department named after them at the Hospital for Special Surgery in Manhattan.

Records show the 6,000 square foot house, built in 1992, has six bedrooms and eight baths, with a gunite pool. Annual taxes are $43,595. The mortgage on the property was with Citibank, naturally. The property is just west of designer Calvin Klein's home.

Listing agents Jack Hangen and Robert Lohman of Century 21 Agawam Albertson Realty could not be reached for comment.

Oceanfront property on Meadow Lane commands hefty prices. In 2007 alone, 7.5 acres of vacant land sold for $35 million. That same summer, media executive Robert F.X. Sillerman reportedly paid $30.5 million -- $1 million more than the asking price -- for a Meadow Lane home next to the one he already owns. Radio personality Howard Stern and then-fiancee Beth Ostrosky reportedly paid $1 million to rent a Meadow Lane home for the year. This past summer, Harald Grant of Sotheby’s International Realty listed a Memorial Day-through-Labor Day rental there for $1 million.