Trailer cash: Montauk modular fetches record $3.8M

If trailers are at the bottom of the real estate food chain, Montauk hasn’t gotten the memo.

An undisclosed buyer shelled out $3.75 million for an oceanfront trailer in the Montauk Shores community, the New York Post reported. Douglas Elliman’s Will Gold represented the buyer in the off-market transaction, which is expected to close next month.

The unit is a mere 800 square feet, meaning the deal works out to $5,000 per square foot. The sale would blow the previous Montauk Shores trailer record of $1.85 million, set last year, out of the water.

The John Hummel-built home has two bedrooms and two bathrooms, and offers 180-degree views of the ocean from several spots. There is also a gas fireplace, a private deck, a grill and an outdoor shower. The primary suite, for lack of a better term, has its own bathroom.

The location is prized by surfers but the community itself features swimming pools, a rec center, a basketball court and a playground.

At least 10 mobile homes in the Montauk Shores community have sold in the past year, at prices ranging from $675,000 to $1.4 million. A trailer near the one that just sold is on the market for $2 million.

Many celebrities and notable business figures have called the enclave home as its popularity with the ultra-wealthy has grown. Jimmy Buffett (who won a bidding war for his trailer), film producer Karen Lauder, billionaire investor Daniel Loeb and Energy Brands co-founder Darius Bikoff have had homes there.

Seven-figure purchases in the community were once considered unthinkable. But prices for its homes have risen exponentially and those closest to the ocean command a premium.

— Holden Walter-Warner