The Real Deal New York

Hamptons Cheat Sheet: Former Tinder party pad in Montauk lists for $21M … & more

By Aidan Gardiner | April 24, 2018 03:20PM

Clockwise from top left: former Tinder party pad lists for $21M, Hamptons home sales enjoy a strong Q1, home from 1775 lists for $11.95M and a medical office building sold for nearly $12M.

Former Tinder party pad in Montauk lists for $21M
Real estate investor Michael Hirtenstein has put his modern Montauk compound on the market for $21 million, Curbed reported. The compound features two buildings, a main 5,500-square-foot home, a 2,400-square-foot guest house, an infinity pool and 300 feet of ocean frontage. The popular dating app company Tinder rented out the compound last year and drew outrage from neighbors over the raucous parties they threw. The award-winning design of the property, by James Biber, is still available to rent through Chris Coleman of Saunders Real Estate. Corcoran Group’s Gary DePersia is handling the sale listing. [Curbed]

Hamptons Q1 home sales above $20M jump 300 percent from last year
The number of homes sales in the Hamptons jumped 20 percent in the first quarter of 2018, compared to the same period a year before, according to numbers from residential real estate firm Town and Country. There were also 300 percent more home sales closing at more than $20 million. East Hampton Village had a particularly strong quarter, with 100 percent more sales than during the same time in 2017 and the area also saw a median sales price increase of 154 percent, to $7.6 million. Behind the Hedges attributed the robust quarter to the new tax code and a strong stock market. [Behind the Hedges]

Sagaponack home built in 1775 lists for $11.95M
The pre-Revolutionary War home was listed for nearly $12 million, according to Curbed. The house, which was included in the Inventory of Selected Historic Structures Outside the National Register Historic District, is currently owned by descendants of its original occupant, Deacon David Hedges, meaning the property has stayed in the same family for 243 years. With eight bedrooms and four bathrooms, the 4,256-square-foot abode sits on 3.2 acres and is represented by Paul Brennan, Linda Haugevik and Ronald White of Douglas Elliman Real Estate. [Curbed]

Southampton medical offices sell for nearly $10M
A company dubbed 1695 Realty LLC bought a Southampton office building at 365 County Road for $9.8 million. The building, which has largely been used as a medical facility, offers 21,000 square feet of space. The company that bought it is run by Syosset-based developer and investor Robert Rankell. The seller, Laub Realty, is located in Scarsdale. [27East]

Sag Harbor approves Cinema Arts Center, but still needs to raise cash
The Sag Harbor village board of historic preservation approved the Sag Harbor Cinema Arts Center. Next, the organization behind the project, the Sag Harbor Partnership, will have to submit the construction plans to the Building Department for approval. But construction won’t begin until the project raises a total of $3 million, Susan Mead, the treasurer of the Sag Harbor Partnership told the East Hampton Star. The Partnership has already raised about $1 million in donations and another $400,000 in pledges. [The East Hampton Star]