The Old Filed Map Overlay District shall consist of all land subdivisions situated within the CR-200, CR-120, CR-80, CR-60 and CR-40 Country Residence Districts and within the R-120, R-80, R-60 and R-40 Residence Districts filed in the office of the County Clerk prior to May 13, 1931, located within the Town of Southampton between the Montauk Highway (County Road No. 80 and the New York State Route No. 27) on the south and the following roads and other features on the north: Peconic River, Peconic Avenue, Flanders Road (New York State Route No. 24), Red Creek Road and Upper Red Creek Road, West Landing Road, Great Peconic Bay, Sebonac Creek/Bullhead Bay, Millstone Brook Road/North Sea Road (County Road No. 38) and the Incorporated Village of Sag Harbor. Any such land subdivision in which more than 80% of the ownership parcels are improved with dwellings as of the effective date of this section shall be excluded from the Old Filed Map Overlay District.