Sandy Lindenbaum

Samuel “Sandy” Lindenbaum, a counsel at Kramer Levin Naftalis & Frankel and one of the city’s biggest land-use attorneys, died this afternoon in his East Hampton home, the law firm said. He was 77 years old.

Lindenbaum worked on many high-profile deals in the city, most recently helping win approval for the Hines Interests-developed MoMA mixed-use building on West 53rd Street, Columbia University’s Manhattanville campus expansion and the Weill Cornell College Medical building. Throughout his career, he has worked with developers such as William Macklowe, Harry Helmsley, Donald Trump, Steven Roth, and Larry Silverstein. [more]

Southampton Village Mayor Mark Epley and Evelyn Konrad

Long-time resident of Southampton Village and Stanford law graduate, Evelyn Konrad, 83, is taking her wealthy neighbors to court over their super-sized McMansions, the New York Daily Post reported. The suit alleges that Southampton Village Mayor Mark Epley revised the local zoning codes after his 2005 election to allow huge houses on small lots, as a favor to his Wall Street tycoon comrades – the suit also names Lone Star Funds CEO Donald Quintin and Manhattan attorney Denis Guerin. [more]

Katherine GaleKatherine Gale joined the Long Island brokerage Daniel Gale Sotheby’s last month — making her the fourth generation in her family to work at the firm, which her great-grandfather founded in 1922. Her grandfather Kent still serves as the company’s chairman and her father, Stan, started there before launching the development firm Gale International in 1999.

Prior to joining the firm, Katherine, 26, who holds an MBA, spent a year as an agent in Nest Seekers’ Midtown Manhattan office…. [more]

At long last, Sagaponack is getting its sunbelt moment. According to the New York Post, a Sagaponack home foreclosed on last month by the Bank of Smithtown is the first property in the wealthy town to face foreclosure — nearly five years after the real estate market crashed. The village clerk confirmed it was the first foreclosure of which she was aware. [more]

The booming Hamptons sales market may be weighing on the seasonal rental figures. CNBC reported that prices are down 20 percent for rental properties because of how many homes are lingering on the market (see video — mishaps included — above).

Brokers told CNBC that there are still hundreds of properties available for rent, and perhaps that’s because many of the typical renters plunked down a payment to buy. As The Real Deal previously reported, sales surged 9.2 percent year-over-year in the second quarter and reached the highest level of activity since 2006. “It’s a pity party for the rich,” CNBC anchor Brian Sullivan said…. [more]

Montauk Airport

Here’s a listing you don’t see every day: an airport. Curbed spotted Prudential Douglas Elliman brokers Paul Brennan and Ronald White listing the Montauk Airport for $18 million. The property, at 428 East Lake Drive, is 37 acres, with a 3,200-foot long runway, a main office with a bath, a 1,620-square-foot permanent hanger and four portable ones. It’s surrounded by a reserve of more than 1,000 acres. [more]

160 Ox Pasture Road

After four years wavering between asking prices of $59.5 million and $49 million, a Southampton estate owned by Jurgen Friedrich, who is also asking $125,000 per month for a unit in the Plaza hotel, has finally entered contract, Curbed reported. The 10-acre property with an 18,000-square-foot home was listed both by Tim Davis and Felicitas Kohl of the Corcoran Group and Sotheby’s International Realty’s Harald Grant for $49 million, after a $10 million price cut in January. But since first being listed in June 2008, it has bounced between those asking prices several times. [more]

Jay-Z, Beyonce and the "Sandcastle"

While still searching for a $43.5 million buyer, East End builder Joe Farrell’s “Sandcastle” estate in Bridgehampton has found a famous family to rent it. Jay-Z and Beyonce are leasing the 31,000-square-foot home on 11 acres of Halsey Lane for August at a cost of $400,000, the New York Post reported. [more]

This Water Mill, N.Y. home is on the market for $10.9M

The Hamptons market, the busiest in six years, is leaving behind only the mid-market, second quarter sales numbers from Prudential Douglas Elliman show.

“We’re seeing a two-pronged market, where there is strength in the sub-million area, due to record low mortgage rates, and strength at the upper end,” said Jonathan Miller, president of real estate analytics firm Miller Samuel, and author of the report. “There’s not much in between.” [more]

From left: Joseph Gregory and shots of his Lloyd Harbor property

Former Lehman Brothers Chief Operating Officer Joseph Gregory has listed his Lloyd Harbor, N.Y. mansion for $22 million, Business Insider reported. Last year, Gregory’s Bridgehampton home sold to Donny Deutsch, formerly of CNBC, for $20.5 million, but selling it wasn’t easy. [more]