Hamptons Cheat Sheet: New Yorkers “winter” on the East End, the biggest sales of 2016 … & more

New York /
Feb.February 01, 2017 05:46 PM

Counting down the Hamptons biggest sales of 2016’s

Although the Hamptons luxury market sputtered in 2016, celebrities and titans of industry certainly bought their fair share of prime real estate. According to The Real Deal‘s analysis, the biggest sale of 2016 was a $110 million deal for 6.4 acres of waterfront land on Lily Pond Land in East Hampton. Serial Hamptons house flipper Michael Smith sold the three properties with nearly 300 feet of shoreline to natural gas mogul Matthew Smith.
The price is the second-highest ever paid in the Hamptons, and one of the highest ever paid for a residential property in US of A. Other notable Hamptons buyers in 2016 include longtime “Today” host Matt Lauer, who snagged Richard Gere’s beachfront 12-bed, 12-bath house for $33.7 million, which was nearly 50 percent off initial list price. And wouldn’t you know billionaire David Geffen would get in on the action, shelling out $70 million for two acres on Lily Pond Lane. [TRD]

No room left in the inn

With renovations now complete, the history-rich Otter Pond House in Sag Harbor has landed on the market as a private home for $4.6 million, 27 East reports. The former bed-and-breakfast features 4,700 square feet, six bedrooms, 6.5 baths, four fireplaces, a pool, and a stone patio. The house is situated between Otter Pond and Mashashimuet Park, and the original structure was built over 150 years ago, in 1860. [27E]

“Half House” will soon be whole

The owner of 136 Jermain Avenue will now be able to conduct renovations after being denied — count ’em! — five times in a four-month period. The Sag Harbor Village Board of Historic Preservation & Architectural Review (ARB) said it was concerned that expanding the two-story “half house” would clash with the architecture of the surrounding neighborhood. But the homeowner’s architect argued the plans were within zoning regulations, and the issue eventually landed in court. The plaintiff, Julian Ellison, won a big lawsuit earlier in January, leading to a settlement that apparently will resolve the matter. Phew! [27E]

Just when he thought he was out…

Michael Daly has been pulled back to where he started in 1998 — at brokerage giant Douglas Elliman, that is. After leaving for Sotheby’s International Realty, Daly recently returned to his old firm where he will work as an associate broker from the company’s Sag Harbor office. For its Bridgehampton office, Elliman also snagged Vincent Frezzo, who previously had a career in sales and marketing. And finally, rival Town & Country Real Estate hired veteran broker Nicole LeBella to work in its Southampton office. LeBella brings nearly two decades of experience in Hamptons real estate. [27E]

1 turbine good, 12 to 15 better

A new farm is opening up 30 miles off the coast of Montauk — 600 feet in the air — after the Long Island Power Authority approved a contract with contractor Deepwater Wind last month. The proposed, 12-15 turbine farm is estimated at $740 million and could provide more than $1 billion worth of power over a 20 year period. The project is just the second offshore wind farm in the U.S., after the farm off Block Island opened last year. The proposed plan requires a 50-mile cable beneath the water before the farm can power upwards of 50,000 homes on the mainland. Deepwater plans to discuss the project in upcoming public meetings. [27E]

For those who use winter as a verb, the Hamptons beckon

Not usually known for its winter attractions, the Hamptons has seen an increasing number of residents sticking around during snow season. With more businesses keeping the doors open through the winter and low-priced condos (well, low priced for the Hamptons), the area might be the winter place-to-be for some of New York’s elite, the New York Post reports. Developments include Bishops Pond in Southampton, the Residences at Gurney’s in Montauk, and Barn & Vine in Bridgehampton. Prices at those developments range from $1.7 million to $4 million. For some, renting may be the way to go — at least one house rents at a 95 percent discount during the winter months. [NYP]


Related Articles

arrow_forward_ios
Robert Futterman charged with DUI in Hamptons car crash
Robert Futterman charged with DUI in Hamptons car crash
Robert Futterman charged with DUI in Hamptons car crash
(Getty)
Homeowners declare final victory in fight over Amagansett “Truck Beach”
Homeowners declare final victory in fight over Amagansett “Truck Beach”
(Compass)
Waterfront home in Water Mill asks $19.5M
Waterfront home in Water Mill asks $19.5M
Ron Perelman with the Lily Pond Lane estate (Getty, Sotheby's)
Ron Perelman lists his other East Hampton mansion for $115M
Ron Perelman lists his other East Hampton mansion for $115M
Long Island (iStock)
Home sale prices hit record high in Suffolk County
Home sale prices hit record high in Suffolk County
442 Further Ln, East Hampton, NY (Zillow)
East Hampton estate sells above $52.5M ask in 1 month
East Hampton estate sells above $52.5M ask in 1 month
Maria Kimberly and 68 Ridge Road (Facebook, Zillow)
No pictures, please! Supermodel Maria Kimberly’s Southampton home to be sold at auction
No pictures, please! Supermodel Maria Kimberly’s Southampton home to be sold at auction
(iStock)
Hamptons adds whites and Latinos, loses Black residents
Hamptons adds whites and Latinos, loses Black residents
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...