Serhant nabs longtime Hamptons broker
The brokerage has been beefing up its presence out East.
Kieran M. Brew, formerly of Saunders & Associates, has joined Serhant’s Hamptons division.
Brew has reeled in over $60 million in sales and rentals in each of the past several years, according to a release.
“It’s a natural fit for me and I expect it’s going to be a lot of fun to help develop this innovative luxury brand even more in the Hamptons,” Brew said in a statement.
Serhant expanded its presence in the Hamptons this summer by opening an office in Water Mill. The brokerage specializes in properties priced over $10 million.
The market out East has long been constrained by a lack of supply, according to analyst Jonathan Miller, as well as rising mortgage rates. Because they tend to have more cash to spend, luxury buyers are to an extent insulated from mortgage rates, but they take their cues from the market just like everyone else. However, Miller also said the annual decline in contracts can be overstated because last year’s market was historically hot.
New signed contracts in November in the Hamptons fell 53 percent year-over-year, to 63 from 134, according to a monthly report Miller’s firm Samuel Miller authors for Douglas Elliman. Contracts fell across all price tranches except for homes asking less than $500,000, which are rare on the South Fork, and those asking between $10 million and $20 million, which held even.
When Brew, who grew up on Long Island, isn’t working, he’s serving as a volunteer firefighter, Little League coach or recording new episodes of his podcast, Brew’s Cafe, in which he interviews members of the Hamptons community. He tries to foster that same connection with his clients.
“Homeowners bring us into their lives in ways that few other professionals get to appreciate,” Brew said. “It’s important that we don’t take that for granted and maintaining these relationships after the sale has closed is an advantage that cannot be overstated.”