Top 10 priciest sales show Hamptons slump
February 08, 2010 06:15PM By Amy Tennery
Judi Desidiero, CEO and President of Town & Country, and an aerial view of 120 Meadow Lane, the priciest Hamptons sale in 2009
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
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Comments
Anonymous
Market bottom: fewer sales, but at non-declining prices, OR, increasing sales, at signficantly lower prices? Pick your poison- market "bottom" was clearly incorrectly called. I'll wait for an economist.
Comment #1 Posted By: Anonymous 02/08/10
Anonymous
Still way to expensive. People are fools...
Comment #2 Posted By: Anonymous 02/08/10
Anonymous
If buyers knew what it really costs to build these houses, there would be (hopefully) none of these ridiculous prices. STOP BEING RIPPED OFF PEOPLE! Are you simply trying to impress with your stupidity, or are you really clueless? The HAMPTONS ARE OVER...get over it! The "Loud People" have made the Hamptons very un-enjoyable...done, over. Thanks obnoxious people...go back to Brooklyn!
Comment #3 Posted By: Anonymous 02/08/10
Anonymous
She can't seem to afford a hairdresser. The market must be terrible out there!
Comment #4 Posted By: Anonymous 02/10/10
Anonymous
Of course these sales "came as a suprise" to her. Her company didn't make any of them.
Comment #5 Posted By: Anonymous 02/10/10