Hamptons Cheat Sheet: Southampton home gets $1.5M as summer rental, Sagaponack street named East End’s priciest… & more

TRD TRI-STATE /
Mar.March 20, 2019 01:30 PM

Clockwise from top left: Southampton home with ‘oversized’ wine storage goes for $1.5M as a summer rental, late choreographer Jerome Robbins’ oceanfront Bridgehampton bungalow lists for nearly $15M, a Sag Harbor home goes into contract with its last listing price at nearly $6M and Sagaponack’s Parsonage Lane is dubbed the Hamptons’ priciest street for 2018.

Southampton new build snags $1.5M as summer rental
A tenant plans to lay down $17,500 a day to rent out a contemporary oceanfront home in Southampton for the summer, the New York Post reported. “In past years, we’ve hit the $1 million-plus rental mark, but this far surpasses it,” star broker Dolly Lenz, who publicly called the deal a record, told the newspaper. Finished just last year, the home on “Billionaire’s Row” at 1400 Meadow Lane still hasn’t been furnished. However, it does have “an oversized glass wine storage and display” for the tenant to enjoy as they hope to hobnob with neighbors like Leon Black, Calvin Klein, David Koch and Henry Kravis, according to the Post. A square foot goes for $11,000 in the Hamptons and many homes are typically already rented out for the summer by January, Inman reported. The 10,927-square-foot home, which is on property sold in 2016 by former Manhattan prosecutor Leslie Crocker Snyder, is also up for sale with a price tag of $53.9 million. The estate has nine bedrooms, 12-and-a-half bathrooms, floor-to-ceiling glass walls looking out on the Atlantic Ocean, a Turkish marble patio, an infinity edge pool, a great room with a three-sided fireplace, a theater and other amenities. The property’s nearly three acres also hold a tennis court, parking for more than 16 vehicles and an elevated walkway to the beach. Vincent Horcasitas of Saunders & Associates has the sales listing. [New York Post]

Parsonage Lane dubbed Hamptons’ priciest street in 2018
Sagaponack’s Parsonage Lane had the highest median home sale price of every street in the Hamptons last year, far surpassing Amagansett’s Atlantic Avenue, which had a median home sale price of $3.4 million, according to data released by PropertyShark. The real estate database noted the street in the Southampton hamlet was vaulted into the top spot by some celebrity home sales, such as the mansion at 550 Parsonage Lane designed by veteran Hamptons homebuilder Jeffrey Collé. The home, built in 2007, initially came on the market for nearly $25 million, but ultimately traded at $16 million. On the same street, 432 Parsonage Lane, which once hosted Justin Bieber, sold for $10.6 million. Parsonage Lane’s median home price of $15 million — home valuations in Sagaponack have soared in recent years — was far higher than the roughly $1 million for the Hamptons overall. The luxury home sale market remained strong, ending last year with a median sales price of $7.85 million, a nearly 37 percent rise over the same time in 2017. Bridgehampton’s Jobs Lane came second on PropertyShark’s list with a median home sale price of $10.9 million, while Captains Neck Lane in Southampton followed at nearly $8.63 million. Old Montauk Highway in Montauk, the stretch of land where financier Michael Goodwin Jr. unloaded an oceanfront home last summer for $22.8 million, took the fourth spot with a median price of $7.85 million. Coming in at No. 5 on Property Shark’s list is East Hampton’s Further Lane, where the median sale price was $7.25 million. The street also had the most expensive home sale on the East End last year at 290 Further Lane, which went for $40 million. [PropertyShark]

Oceanfront Bridgehampton bungalow lists for nearly $15M
The onetime home of iconic Broadway choreographer Jerome Robbins has hit the market for $14.995 million, Mansion Global reported. Robbins, a co-creator of “West Side Story,” bought the property at 139 Dune Road in 1978. He passed the two-bedroom bungalow to his eponymous foundation devoted to funding dance and theater. Robbins, who died at 79 in 1998, reportedly found inspiration at the home for one of his last ballets, “Ives, Songs,” according to Architectural Digest. The 750-square-foot home has two-and-a-half bathrooms, a large stone fireplace, a wraparound porch that overlooks a sea grass lawn, beach and the Atlantic Ocean, as well as a private path to 120 feet of water frontage. The also property has a 45-foot pool and views of Mecox Bay to the north. The listing agents for the home are Sotheby’s International Realty’s Marilyn Clark, Martha Murray and Frank Newbold, who have pitched the property as redevelopment opportunity. Mansion Global noted that current zoning rules allow for a 6,400-square-foot home on the site. [Mansion Global]

Elliman broker, brother gets Sag Harbor home set for sale
After coming on the market with a nearly $6 million price tag and taking several price cuts down to $5.25 million, a half-acre property at 2 Harding Terrace in Sag Harbor has gone into contract, Curbed reported. The 5,500-square-foot home designed by architect Peter Cook and developed by Bruce Bronster, an attorney who along with several investors has reportedly bought up several Sag Harbor properties in recent years. (Bronster was a partner at Manhattan-based Windels Marx Lane & Mittendorf until last September, when he led a 16-lawyer group that formed his eponymous foreclosure and litigation boutique.) The property at 2 Harding Terrace has six bedrooms, five bathrooms, three half-bathrooms, views of Sag Harbor Bay, white oak floors, a gym and a home theater. The property also has a heated gunite pool and a spa. Douglas Elliman agents William Wolff, Robin Bender and Tal Alexander, the latter of whom was profiled by The Real Deal this week, have the listing. [Curbed]

A mixed bag for home sales in February, but spring looms
Home sale prices in Suffolk and Nassau counties had a mixed February with the former seeing an increase and the latter a plateau, Long Island Business News reported. The median price of pending home sales in Nassau last month was $500,000, the same as it was in January and just $500 higher than it was a year prior, according to data published by the Multiple Listing Service of Long Island. That median price matched the lowest median price for Nassau over the past year. In Suffolk, the median price for pending home sales rose $4,000 from January, to $374,000, which was 3.9 percent higher than the $360,000 median a year earlier. Overall, pending home sales in both counties rose 5.8 percent in February when compared to the same time last year. Nassau had only 966 homes go to contract last month, a 1.8 percent uptick from the 949 contracted for sale a year prior. Suffolk, however, had 1,337 pending home sales last month, up 8.9 percent from 1,228 pending sales in February 2018. Long Island Press likened the splits to a “tale of two Long Islands,” with the market “getting more favorable to buyers as moving season arrives in April,” although “competition remains fierce for starter homes.” Newsday noted that declining sales and growing inventory in Nassau and Suffolk gives buyers more leverage in negotiations. Within the last two months, pending sales on Long Island have risen more than 8 percent over the same period in 2018. Inventory has also continued its climb with 10,910 homes listed for sale across Long Island, 6.2 percent more than the 10,273 listed at the end of February 2018. During that time, listings in Nassau jumped 12.7 percent, to 4,888, while Suffolk saw a 1.5 percent increase, to 5,934. [LIBN]


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