Top 10 priciest sales show Hamptons slump

Judi Desidiero, CEO and President of Town & Country, and an aerial view of 120 Meadow Lane, the priciest Hamptons sale in 2009

Pricey homes in the Hamptons “took a hiatus from the market this year,” according to Town & Country Real Estate’s 2009 list of the top 10 most expensive sales (see full report below). The top sale, a Southampton Village home at 120 Meadow Lane, which went for $25.99 million, would have ranked fifth on the 2008 list and would have just barely cracked the top 10 of the priciest 2007 sales, according to the Town & Country rankings, which takes its findings from all closings on the East End.

Judi Desiderio, CEO and President of Town & Country, said that the sales figures came as little surprise, particularly with the first half of the year showing an anemic level of activity on the East End.

“[The top 10 ranking] always reaffirms what you see in the pit,” Desiderio said. “It was an eye-opener. The high end was really taking a break.”

The Meadow Lane property was the only home to crack the $20 million mark, with 237 Gibson Lane at Sagaponack and 42 Highway behind the Pond Lane in East Hampton tying for second place, each selling for $19 million.

Although 2005 saw the highest level of market activity, according to Desidiero, 2007 took the cake when it came to pricey sales. That year’s number one closing left 2009’s in the dust — Further Lane in East Hampton saw a $103 million two-property combined sale.

While Desiderio said she called the market bottom in the second quarter of 2009 — and she said she stands by that — she told The Real Deal that she saw activity picking up in August of last year.

Top 10 2009-Hamptons