Southampton’s long-stalled Ponquogue Point condominium complex is edging closer to completion, after a 13-year odyssey.
The town’s planning board is reviewing the new owner’s plans to set aside two of its 21 units as rentals to comply with the town’s condo conversion law, according to 27east.
Finalizing those details would put the project — which the town approved in 2008 — one step closer to getting a certificate of occupancy.
The Hamptons housing market has been red-hot since the pandemic. It slowed somewhat in recent months, but builders are clearly eager to get units on the market.
The project was put on hold almost immediately after approval and in 2013 a bank foreclosed on the property.
A developer bought the property and work started the following year, but was held up for various reasons.
Developer Hampton Bay Manor LLC filed for bankruptcy in 2019 and was forced the sell the property. The new owner is 68 Foster LLC.
[27east] — Dennis Lynch