Water Mill South is the premium designation in this hamlet and one of the strongest in the Hamptons. The lanes running down toward Mecox Bay, including Cobb Road, Cobb Isle Road, Bay Lane, Rose Hill Road, and Halsey Lane, hold estates on multiple acres with bay frontage, private docks, and in many cases views across the bay to the Atlantic beyond. This is where the hamlet's largest trades happen: four adjoining Cobb Road parcels sold together for a reported $118.5 million in 2021, and a bay-cove property on Bay Lane closed at $12.6 million more recently. The architecture runs from shingled traditionals to significant modern houses by named architects. Dock rights and any Town Trustees jurisdiction should be confirmed property by property rather than assumed from water frontage.