The Real Deal New York

Hamptons Cheat Sheet: Golf club and business park score Southampton approvals … & more

By Aidan Gardiner | October 23, 2018 10:00AM

Clockwise from top left: Waterfront Meadow Lane home has price cut down to $8.75M, Suffolk County home asks up amid island-wide price rise, Mixed use Sag Harbor building lists for $6.6M and Rechler Equity lands first tenant for Hampton Business District project.

Golf club expansion and business park development advance after Southampton OK
The Southampton Town Planning board will allow two proposed projects on the border between Bridgehampton and Water Mill to move forward without more archaeological or environmental review, 27east reported. The Atlantic Golf Club hopes to build a 3,643-square-foot teaching facility and expand its driving range on its more than 200-acre course. The board ruled the teaching facility, which will mostly be underground, won’t significantly impact the environment. The board also greenlit a proposed business park that will include two 15,000-square-foot industrial buildings, a 4,947-square-foot office building. [27east]

Suffolk County home asks up amid island-wide price rise
The median price of homes that were pending closing in Suffolk County in September was $385,000, Long Island Business News reported. That’s a nearly seven percent rise the median during the same time last year which was $360,000, according to numbers put out by the Multiple Listing Service of Long Island. The story was similar in nearby Nassau County, where the median price of homes contracted for sale was $500,000, a two percent hop from the $490,000 median price in September 2017. The rise in prices however came amid a slowdown in sales, which brokers attribute to weakening demand and rising interest rates. [LIBN]

Rechler Equity lands first tenant for Hampton Business District project
Produce provider ADS Management leased 30,000 square feet of office space in the Hampton Business District, which is being developed by Rechler Equity Partners, LIBN reported. The food company will be the anchor tenant in the $10.8 million building, the third of nine at the developer’s planned industrial park in Westhampton Beach. The building still has 66,000 square feet under construction. That space will be leased to smaller businesses that will be able to rent units up to 6,500 square feet. [LIBN]

Downtown Sag Harbor building with retail space lists for $6.6M
A building with retail space along Sag Harbor’s Madison Street and two apartments above hit the market for $6.6 million, Curbed reported. The ground floor has 2,100 square feet of commercial space. Each apartment has about 1,140 square feet. The apartments both have three bedrooms, two bathrooms and a fireplace in the living room. In 2015, the building went on the market for $6.9 million until it was taken off the market after three months. Christy’s Building Art Center is currently at the location. Compass Real Estate’s Scott Strough, Kathleen Zappola and Christian Lipp are the agents on the listing. [Curbed]

Waterfront Meadow Lane home’s price reduced to $8.75M after 2 months on the market
After just two months on the market, a unique waterfront home got its first price cut, according to Curbed. The Meadow Lane home came on the market for $9.75 million, but is now listed for $8.75 million. Built in 2007, the 5,000-square-foot home has five bedrooms, six-and-a-half bathrooms, light hardwood floors, floor-to-ceiling windows, an eat-in kitchen, outdoor decks with a fireplace and waterviews from nearly every room. The two acres of land include 140 feet of frontage on a creek with a dock. The home sold in 2007 for$4.05 million. Sotheby’s Harald Grant along with Ellen Lauinger and Katie Milligan of Corcoran are representing the listing. [Curbed]