From left: Diane Saatchi and Judi Desiderio
From the April issue: Long Island’s East End was hit hard by the real estate downturn, but not by Hurricane Sandy, which largely bypassed the area. Thanks to that stroke of good luck — coupled with the improving economy — the popular vacation spots in the Hamptons and North Fork are now seeing a definite rebound from the post-financial crisis slump. [more]
Diane Ramirez and Nancy Hardy
UPDATED, 11 a.m., Feb. 5: Halstead Property will debut a new office in Southampton Village, The Real Deal has learned. Slated to open for business at 31 Main Street this spring, the new location brings Halstead’s tri-state office count to 24 and its agent total to 1,000. The brokerage is aiming to open the storefront space by the end of March, a Halstead spokesperson said.
More than 20 agents — all new hires — will set up shop at the new branch, which is currently undergoing renovations. The office is set to be headed by Nancy Hardy, director of sales at the Southampton office. [more]
Montauk Airport
The privately owned Montauk Airport has been on the market for nearly two months with an asking price of $18 million. Most residents, local plane enthusiasts and even the Prudential Douglas Elliman brokers listing the property want its current use to be maintained, according to the New York Times. But the airport’s zoning allows for residential development, and without that component it is difficult to imagine the property fetching anything close to its asking price. [more]
The Hamptons may be increasingly popular with year-round inhabitants, but it’s still a very popular destination for buyers of second homes. And where do these buyers come from? Property Shark recently took a look, finding that 35 percent of all Hamptons vacation homes are owned by Manhattanites (see full infographic after the jump)…. [more]
Highlights from The Real Deal‘s second annual golf outing can be seen in the video after the jump. Held last month at the Hamptons Hills Country Club in Westhampton Beach, N.Y. the event brought out more than 90 industry professionals…. [more]
From left: Eric Schneiderman, Deborah Mohring and 711 Willis Avenue
A state Supreme Court judge late Wednesday ordered the developers of Cambridge Park Condominium in Williston Park, N.Y., to pay $215,000 within 72 hours for failing to fix a crumbling retaining wall at the 37-unit complex or face up to five days in jail, The Real Deal has learned.
Judge Manuel Mendez ordered the developers, Richard and Deborah Mohring, to pay the funds after state Attorney General Eric Schneiderman sued the pair for fraud and misrepresentation. [more]
Cape Advisors co-founder Curtis Bashaw and the Baron’s Cove Inn
Cape Advisors, the firm behind the largest development project underway on the East End at the former Bulova Watchase Factory, has its sights set near another large, long-stalled Sag Harbor project.
Sag Harbor Express reported Cape Advisors has entered contract to buy the 66-room Baron’s Cove Inn, at 31 West Water Street, directly next door to the site of the halted West Water Street condominium project. It will take over exterior renovation duties of the existing rooms already commissioned by current owner KBR Associates. [more]
From left: traffic on the Long Island Expressway and a beach in the Hamptons
New York City is slated to experience the worst traffic in the nation this weekend, as residents flee to the margins of our metro area for one last day at the beach, the New York Observer reported. [more]
From left: Matthew Inman, Wardenclyffe tower and Nikola Tesla
Electricity is in the air after Seattle-based internet cartoonist Matthew Inman successfully raised $1.1 million in little more than a week to save inventor Nikola Tesla’s Shoreham, N.Y. laboratory on Long Island. According to Businessweek, Inman, of theoatmeal.com fame, posted a funding plea on the crowd-funding website Indiegogo on August 15 after learning of an $850,000 matching grant through New York State. [more]
From left: Imelda Marcos and 16 Sedgemere Road
A home that once belonged to the Filipino dictator Ferdinand Marcos and his wife, Imelda, the world’s most famous footwear aficionado, has hit the market for $4.95 million. The 8.2-acre waterfront estate is situated in Center Moriches, L.I., FilAm, a Filipino American newspaper, reported.
Sanford White designed the 16-bedroom, 17-bathroom home at 16 Sedgemere Road, which includes a carriage house and a pool, and is being marketed by Enzo Morabito of Prudential Douglas Elliman. [more]
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