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The lagoon is separated by a 50-foot (15 m) sandbar and is managed by the East Hampton Trustees who monitor a cycle of draining the lagoon and replenishing it with Atlantic Ocean water.
Bill and Hillary Clinton stayed at the Spielberg home during the summer vacations in 1998 and 1999. Rumors circulated in 1998 that the Secret Service had drained the pond looking for submarines after the lagoon drained shortly after Clinton's visit.
Groyne jetties at the pond have been accused of causing beach erosion in Southampton, New York as they are thought to interrupt the normal east to west flow of sand in the longshore drift. Dunehampton unsuccessfully attempted to incorporate in part to have legal standing in the debate. Likewise, Sagaponack, New York incorporated for the same reason.
Georgica Pond is where the famed Grey Gardens estate is located.
A sandy area near the pond is a nesting ground for the piping plover.