Hamptons Cheat Sheet: Luxury sales up in Q3 but it’s not all good news, Southampton manse price-chopped to $12.9M … & more

New York /
Oct.October 17, 2017 06:00 PM
 

Town & Country 3Q 2017 report: Luxury home sales in Hamptons improve but no blockbuster deals

Town & County summed up its third quarter Hamptons market report by likening the data to a bunch of balls bouncing in different directions. Most notable, the report said, was that sales of $10 million to $20 million homes found their footing: there were seven sales in the third quarter in this range, compared to three in same quarter in 2016. Six of the high-end homes that sold in the third quarter were in the Bridgehampton area, which includes Water Mill and Sagaponack. Bridgehampton accounted for over 26 percent of total home sales volume for the Hamptons. The two sales that over $20 million were in East Hampton Village: 11 Lily Pond Lane, which went for $29 million and 81 Briar Patch, $25.9 million. While East Hampton Village saw the highest median sales price, $4.4 million, it was still 15 percent less than the median from the same time last year: $5.25 million. [Town&Country]

Southampton weighs buying site of proposed Tuckahoe shopping center for land preservation

A patch of land in Tuckahoe that was once slated to be part of a shopping center may be preserved as open space. Southampton Town officials are looking to purchase the 7-acre parcel on County Road 39 using a fund for preservation, according to 27east. Developers Lance Nill, Lyle Pike and Robert Morrow had proposed the controversial Tuckahoe shopping center for the property, which includes the parcel, however a change of zoning application for the project was pulled in April after years of resistance from nearby residents, the report said. A hearing on the purchase is planned for Nov. 14. [Newsday]

Hearing for the Hills development in East Quogue delayed after developer fails to notify public

A failure to notify the public of a final meeting for the Hills, a proposed luxury golf development in East Quogue, caused the hearing to be postponed. Arizona-based Discovery Land Company was required to post signs and mail notices to the community at least 14 days before the hearing, which was scheduled for Thursday, reported 27east. The developer failed to do so, according to a letter sent to the Southampton Town Board from the developer’s attorneys. Without that proper notice, the board lacks the jurisdiction to hold the hearing on changing the zoning of the property to allow developers to build 118 units and an 18-hole golf course along Spinney Road. [27east]

Southampton mansion drops price again to $12.9 million

An 8,000-square-foot spread in Southampton has seen its price chopped for the second time since hitting the market in February. The home at 320 Pheasant Lane was originally asking $16.5 million. That ask was reduced by $2 million in June and another $1.6 million recently, bringing it to the current asking price of $12.9 million. The home was built in 2006 and sits on a 2-acre property, according to Curbed. It has eight bedrooms, eight full bathrooms and a half bathroom. Highlights include custom fireplaces, bespoke millwork and cabinetry, a breakfast room with French doors that open to a patio and two guest suites. Outside there’s a heated gunite pool, grass tennis court, two-car garage and mature landscaping. Bespoke Real Estate has the listing. [Curbed]

Sean Ludwick to be sentenced in Hamptons fatal drunk driving crash

Real estate developer Sean Ludwick, who pleaded guilty in August to killing his friend, Douglas Elliman broker Paul Hansen in a 2015 drunk driving accident in the Hamptons, will be sentenced Wednesday, according to 27east. Ludwick, who has a home in Bridgehampton, was accused of dragging Hansen out of a car wreck and leaving him on the side of the road. Ludwick has admitted to driving with a blood-alcohol level of .18 percent. According to the report, he accepted a plea deal and is expected to serve three to nine years in prison. Ludwick developed a name for himself after launching the development firm BlackHouse Development in 2007 with Saif Sumaida and Ashwin Verma. The partners later fell out. [27east] [TRD]


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