Panoramic View (top left), Bulova Watchcase Factory (top right) and Prime 103 (bottom) are at the center of legal controversies

This summer, a court is set to decide whether a group of brokers in the
Hamptons is functioning like a monopoly. By charging too-high fees for
their shared online system, known as OREX, the brokers are illegally hoarding key property data, a lawsuit alleges. But while the sweeping legal action is keeping lawyers busy, it’s not
their sole source of work, as the upscale second-home destination on
Long Island’s East End suffers from the housing downturn like the rest
of the country. For one, the region has been hit with a rash of short sales, brokers
say, as homes teeter on the brink of foreclosure. The Springs section
of East Hampton has been particularly hard hit, with 12 short sales in
the last few months, said Veronica Montemarano, a sales agent with
Prudential Douglas Elliman in Montauk. [more]