Trailer cash: Montauk modular fetches record $3.8M

Property in bougie Hamptons community highly valued for surf access

Aerial of Montauk Shores
Aerial of Montauk Shores (Google Maps, Getty)

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.

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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

Read more

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