The housing stock in Westhampton Beach is on the verge of getting a boost from the Beechwood Organization.
The developer is planning to build 26 single-family homes in the Hamptons village, Newsday reported. A majority of the homes will be part of a single development close to the LIRR station.
The former site of the Wholistic Tennis Academy at 44 Depot Road will be replaced by the 22-home development known as Country Pointe Estates. Three models will be built, all including six bedrooms and five bathrooms. Starting prices will range from $2.7 million to $3.6 million, according to Newsday, above Westhampton’s median sale price of $1.3 million in 2021.
Sales for the homes are expected to begin in the next few weeks. The construction timeline forecasts the homes will be completed in about a year. They will provide a big boost to the village’s housing stock, which includes only 38 active listings, according to OneKey MLS.
Elsewhere in the village, Beechwood is also developing a four-parcel site known as Oneck Landing at 293 Oneck Lane. The developer is dividing the parcel into four sites for building single-family homes; two of the sites have been sold, while a third is listed for $6.5 million. The fourth site already includes a home and has been listed for nearly $7 million.
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The Hamptons housing market showed signs of cooling in February. Newly signed contracts for single-family homes dropped 45.5 percent year-over-year, while new listings held steady, according to a Douglas Elliman report by Miller Samuel. A lack of supply was singled out as a reason for the market cooling.
Beechwood is coming off a disappointing result in Hauppauge, where its plan to redevelop a defunct school with luxury condominiums for seniors was sunk by a vote against the hamlet’s proposal to sell the Whiporwil School property to the Jericho-based developer. Beechwood wanted to build 128 condos at the site, including about a dozen for affordable housing.
[Newsday] — Holden Walter-Warner