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I was flattered when Jenn Henn, from the Southampton Press asked me to do a “Lunch With…” interview. I had lunch with writer, Brian Bossetta, last week.md
Publication: The East Hampton Press & The Southampton Press
Lunch With … Michael Daly
Jun 10, 08 11:28 AM
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For the last decade, Michael Daly has been one of the top real estate brokers on the East End.
In 1998, he started True North Realty Associates to offer what he calls straightforward, no-nonsense service. Now, Mr. Daly does business as Beach Properties of the Hamptons, having opened the first of three offices in Southampton in 2006. Though focused on Hamptons real estate, the North Haven resident has contacts with other Realtors in Manhattan, across the tri-state area, and in coastal Florida, the Caribbean, Costa Rica and 65 countries around the globe.
He also operates the Hamptons Real Estate Blog, which is dedicated to the Hamptons real estate market.
Mr. Daly recently talked about the real estate market, his blog, and a few other things, over lunch at Silver’s restaurant on Main Street in Southampton Village.
Q:
How did you come to know the Hamptons? Did you grow up here?
A:
I’m from the city, but I’ve been a summer kid out here since 1960. My family had a summer cottage in Westhampton where all the kids and moms would come out. I’d leave school as soon as it let out and stay the entire summer. I was one of the luckiest kids in my school.
Q:
Since coming out here as a kid, have you noticed over the years that the Hamptons have become more of a year-round community and not just a seasonal community?
A:
Oh, absolutely. I still remember “Tumbleweed Tuesday,” which is what we used to call the Tuesday after Labor Day, because it was said you could see the tumbleweeds blowing down the main streets in the Hamptons because everyone was gone. So much is changing. I think one factor is that with telecommunications as they are today, people have more flexibility with work, which allows more people to stay out here year round.
Q:
So, tell me a little about your real estate blog.
A:
Well, I started it in November 2006, and I’ve had more than 62,000 hits. For me, it just became a way of communicating. I looked and saw a lot of blogs coming up, and I didn’t see anything about Hamptons real estate. I’ve had visitors from all over the world. But mostly it’s a way to express myself and to pass on to colleagues and clients what I think is important about Hamptons real estate. And also to be a resource for where to stay or where to go and eat.
Q:
Do you enjoy it?
A:
I have fun sometimes, but other times it’s a labor of love. Often, it depends on my time. I’ve tried very hard not to make it a gossip blog, because I think we already have enough of those. And I think gossip can be destructive. So I’ve tried to keep it informative and about real estate.
Q:
Well, speaking of, there’s been a lot of talk about the slowing down of the housing market. What, if anything, have you noticed?
A:
Well, I definitely see a change in the market just from the stats alone. The market was down some 40 percent for single-family homes in the first quarter, and a recent report for single-family homes after April indicate they are down 30 percent. That’s for the townships of East Hampton and Southampton, which in my view comprise the Hamptons. But this is definitely the biggest downturn that I’ve seen.
Q:
Is there any particular dropoff ?point where you’ve noticed homes going down the most, or staying the same?
A:
I don’t have the exact numbers, except the 30-percent drop in the number of sales. But I think the biggest hit has been on sales between $3 million and $5 million. However, the average sale price is up over $2 million. But that’s due, in part, because we’re still having quite a number of big sales—$10 million, $15 million, $20 million, $25 million sales—and a lesser number of $5 million-and-under sales. So when those smaller sales drop, these bigger ones bring up the average.
Q:
When you get up into those high figures—$20 million, $25 million sales—are those people pretty much immune to what’s going on in the market?
A:
I think so. I think that echelon is immune to everything—gas prices, food prices, as well as real estate prices.
Q:
Do you see the market picking up again anytime soon?
A:
Well, I’m bullish on the real estate market. I think there are some really terrific values out there right now. I think it’s coming to the point where people are not going to be able to resist getting back in because of the quality of the deals that are available.
Q:
So there’s an upside to the slowing market?
A:
Yes. Traditionally, values in the Hamptons don’t drop. They’ll stay flat for a period of time.
Q:
Speaking of affordability, I wanted to ask you about affordable housing. As you know, this is a huge issue in town, how to keep much needed middle-income workers in town when the cost of real estate out here is so high. As a Realtor, how do you see affordable housing playing into the real estate market?
A:
I like what’s happening with the whole topic of affordable housing. It’s evolving into workforce housing. I think affordable housing has gotten a bad rap. Especially by “NIMBYism.”
Q:
“
Not in my backyard”?
A:
Yes. Because it often gets attached with the idea of bad neighborhoods, or people who really can’t afford to live there being given handouts, and that sort of thing. But that’s not what the issue is here. It’s about creating an environment for the people who work here to be able to live here, which creates a healthier balance.
I think the community is coming closer to finding answers. I think one of the most practical solutions is to allow for accessory apartments, both commercial and residential mixed use, allowing for some of the office spaces in the villages to be turned into apartments. Sag Harbor, for instance, has a pretty nice balance of commercial spaces downstairs and apartments upstairs.
I think there are a lot of available spaces that could be converted into rental units. And that also helps other people to afford to stay in their homes because that can supplement their mortgage or serve as additional income. Because it’s a real bummer for people who work here to have to commute from far away and sit in traffic. The trade parade as they call it. And if we don’t solve affordable housing, you end up with a community of “haves and have-nots.”
Q:
What do you think more affordable housing units would do to the real estate market in general? From a real estate perspective, do you think it would lessen the values of homes in the area?
A:
No, I don’t think it would. I think that’s a knee-jerk reaction—that if you put something up that’s “affordable housing” next to me then my property is going to lose value. If done properly, I think it would actually enhance values. I mean, if you can’t find needed workers, or live in a community where teachers, cops, nurses, assistants can’t afford to live, then, in the end, you’re only hurting your own property values. We need to find a balance.
Q:
Have you noticed anything in particular with vacant land sales?
A: It’s interesting. It used to be that land was just land. You’d buy a lot and build a house. But, over the last 10 years, land has become a huge commodity. And there’s less of it. For example, the Community Preservation Fund has greatly reduced the amount of land available to purchase.
Q:
Are you a fan of the Community Preservation Fund?
A:
Absolutely.
Q:
If there’s less land available, does that at all cut into potential sales that Realtors can represent?
A:
No, because preserving land increases the value of the land that is available. It drives values. And, the thing is, we live here too. I live on a 50-acre reserve. I don’t want to see this place paved over.
You know, I resented for a long ?time the notion held by some that ?Realtors are all just money hungry and want to just sell everything. I fought hard to build a relationship between Corcoran and the Peconic Land Trust. We all want to maintain the beauty and the value of where we live. We have more commonalities than we have differences.
I’ve always liked the idea of “doing well by doing good.” Doing good things brings good karma and brings success. I sit on the board of HANFRA, which is the Hamptons North Fork Realtors Association, and we recently gave a Leadership in Conservation Award to Timothy Caufield, the vice president of the Peconic Land Trust, for his efforts to maintain the face of the East End through preservation. They’re a wonderful organization.
Q:
What do you enjoy most about real estate?
A:
Well, besides truly enjoying the “art of the deal,” my passion is in working with new and experienced agents in developing their businesses. I teach agents about the four “C’s”: Confidence, Commitment, Contacts, and Closing Skills. I’ve worked with agents who have all the four C’s, but it’s taken them a year or more to make money. Nothing, nothing, nothing, then, boom! It all kicks in and they do fine. That’s a beautiful thing to see and very rewarding.
| Updated: May 30, 2008 5:05pm |   |
Villages Notifying Businesses Of SLA Regs Following Vered Incident
By Mariah Quinn
Ruth Vered’s arrest on May 24 led area villages to notify businesses about State Liquor Authority regulations regarding the distribution of beer and wine at special events. |
Southampton - After the arrest of an East Hampton gallery owner who failed to obtain a special permit from the New York State Liquor Authority (SLA) which authorizes the service of beer or wine, some local municipalities are notifying area businesses of the SLA requirements in an effort to ensure compliance with the law.
rest of story HERE
Where is the fuhrer? 
Are we in Cuba? China maybe? Afganastan?
East Hampton Village Police arrested 67 year old Ruth Kalb (Vered Gallery) in the middle of her art gallery openingat the Vreed Gallery because she was serving liquor (wine?) and had invited lots of people to attend.
I’m first to admit that I was not in attendance and do not know the entrie story, so there may be some missing pieces (the NYPost leaving out some pieces????- nah…) That being said, there MUST be a better way of handling these matters! The Post and Daily News stories are below.
Here’s the number for the EHVillage PD - 631-324-0777
Here’s the number for the EHVillage Mayors Office - 631-324-4150
E. END ART ATTACK SPARKS OUTRAGE
GALLERY BOOZE-BUST FUROR
By SELIM ALGAR and ERIC LENKOWITZ, NYPost
and
East End gallery owner carted off to jail for serving drinks without a license
Monday, May 26th 2008, 4:00 AM
See the PLUM TV Video of the arrest below:
‘very few people in this world can reason normally. there is a terrible tendency to accept all that is said, all that is read, and to accept it without question. only (s)he who is ready to question, to think for (him)herself, will find the truth! to understand the currents of a river, (s)he who wishes to know the truth must enter the water.” - Nisargadatta
There are some incredible deals out there, for those with the courage to step forward and have some respect for those who stand in the river.
Best News! Southampton Town Board voted unanimously last night on a resolution to accept terms with LIPA that results in the burial of 100% of the cables on the powerline route on the back roads.
The terms call for a LIPA surcharge based upon consumption — for the East End of the Town, only (excluding Shinnecock, Tuckahoe, and the Shinnecock Reseration). The surcharge will amount to $3.70 per month for the average electric consumer, i.e., bigger houses will pay more than average, and smaller houses less.
At later date, yet to be set, we must go to LIPA headquarters to impress upon LIPA’s Trustees that we expect them to also ratify this agreement. Again, on that day, CGSF will arrange for chartered Jitneys (free to supporters who come, including lunch aboard the return trip).
In the event that LIPA’s Trustees do not ratify the agreement - the Town’s resolution also calls for establishing a Special Tax Assessment District to support payment for the undergrounding. The boundaries of the STAD are yet to be set, but will include Water Mill, part of Bridgehampton, and perhaps, depending upon their agreement, the Villages of Southampton, Sag Harbor, North Haven, and Sagaponack.
Please take the time to send “Thank You” emails to the Southampton Town Board for their good work to preserve and protect our scenic vistas and hurricane escape route. This was a long and hard negotiation for them. Here are their email addresses:
Supervisor Linda Kabot: LKabot@SouthamptonTownNY.gov
Councilman Chris Nuzzi: CNuzzi@SouthamptonTownNY.gov
Councilwoman Anna Throne-Holst: AThrone-Holst@SouthamptonTown.gov
Councilwoman Nancy Groboski: NGraboski@SouthamptonTownNY.gov
Councilman Dan Russo: DRusso@SouthamptonTownNY.gov
We owe a special debt of gratitude to Assemblyman Fred Thiele, who persisted in bringing both sides to this agreement. Without Assemblyman Thiele’s involvement this deal would never have happened. Please tell Assemblyman Thiele you are grateful: thielef@ assembly.state.ny.us
Steve Abramson, Chair
Committee for a Green South Fork
info@buryLIPAcables.com
It’s been said that East End, Long Island wines are “young”. Well, that’s true, compared to wines from Europe and even California. But hard work, good weather and yes, time, may be paying off…md
Merlot Made From Hamptons Vineyard for $100 Beats Saint-Emilion
By Gillian Wee
May 9 (Bloomberg) — After making wine since 1992 surrounded by the mansions of the Hamptons, Roman Roth got the ingredients for the ideal vintage last summer: steady sunshine and little rain.
“It was a dream year,” said Roth, 42, the German-born winemaker at Wolffer Estate Vineyard in Sagaponack on Long Island’s South Fork, about 100 miles (161 kilometers) east of New York City. “The growing conditions were close to perfect. You knew when you started picking grapes. So we made really ripe, great lush wines.”
Roth’s most expensive product, a 2004 Premier Cru — or first growth — Merlot sells for $100 a bottle at his tasting room, which is preparing for its peak period from Memorial Day, the May 26 U.S. holiday marking the start of the summer season, to October.
The 2007 vintage follows one in 2005 praised by Wine Spectator magazine Executive Editor Thomas Matthews. They show that Long Island’s boutique winemakers can compete with U.S. West Coast and European producers, Roth said.
“I think 2007 is going to be the exciting year,” said Gary Vaynerchuk, 32, who runs Wine Library, a retailer in Springfield, New Jersey, and hosts a Web TV show on winelibrarytv.com. “Weather has everything to do with everything when it has to do with wine.”
While New York is the country’s third-largest wine-and-grape producer behind California and Washington, two-thirds of the harvest is turned into grape juice, said Jessica Chittenden, a spokeswoman for the state agriculture department. Long Island’s vineyards produce only 1.19 million gallons of wine, worth about $100 million annually, equivalent to 0.2 percent of California’s output, said Steve Bate, 49, executive director of the Long Island Wine Council.
3,000 Acres
Long Island’s first vineyard was started with 17 acres (6.9 hectares) in 1973 by Louisa and Alec Hargrave. Sixty vineyards, many former potato fields, now cover about 3,000 acres. They benefit from growing conditions similar to the Bordeaux region, Bate said. Long Island’s largest winery is the family-run Pindar Vineyards, sitting on almost 550 acres.
What sets Long Island wines apart from California offerings is how well they pair with food, said Jim Trezise, 61, president of the New York Wine and Grape Foundation. Grapes grown in New York’s cooler climate produce vintages that are light and acidic, he said.
The island, known for its white beaches, relies on summer visitors who buy wine where it’s made.
`Attractive Region’
“They are such an attractive region for tourism that they’re able to sell a large percentage of production from the wineries,” said Matthews, 54, whose favorites include offerings from Wolffer, Pellegrini Winery and Bedell Cellars, owned by Michael Lynne, a former head of Time Warner Inc.’s New Line Cinema. “That has allowed them to flourish without being forced to compete on retail shelves and restaurant wine lists with wines around the world.”
High real-estate prices and a lack of marketing also hamper the industry’s expansion, said Eric Ripert, 43, executive chef of the New York restaurant Le Bernardin. He owns a house in Sag Harbor, about five miles from Wolffer Estate Vineyards, and has been drinking Long Island wine for 10 years.
“In New York, we are snobbish about the region,” said Ripert, who likes Wolffer’s 2007 Rose. “They need to have a cooperative of vineyards working together to work on their image and create the right marketing and PR campaign around their product. That will take a few years.”
During a 2003 blind tasting by 50 wine critics at Le Bernardin, 35 “thought our Premier Cru was French and compared it to Chateau Peby Faugeres and Chateau Angelus,” said Wolffer’s marketing director, Sue Calden. Both make Saint-Emilion from the country’s Bordeaux region.
Untested Territory
Roth moved to Long Island in 1992, drawn by the challenge of making wine in untested territory. That was the year of 13 rainy weekends, he says, making it difficult for grapes to ripen. He made only 3,000 cases. He now produces more than five times that.
Started by Hamburg-born venture-capitalist Christian Wolffer, 70, the estate features an airy tasting room looking out onto a 50-acre vineyard where Wolffer grows Chardonnay, Merlot and Cabernet Franc grapes.
Wolffer’s vineyard staff grows and picks the grapes. The harvest for the lighter rose and Pinot Gris wines comes in October, while reds and late-harvest Chardonnay go into November.
“All of Long Island fits into one tank of Gallo,” Roth said. “We may need a famous Paris tasting. A small industry like Long Island’s doesn’t have big budgets. Good wine is our billboard.”
Gulf Stream
Long Island’s wineries benefit from well-drained sandy soil and proximity to the Gulf Stream, which keeps temperatures stable and allows grapes to ripen evenly, said industry pioneer Louisa Hargrave, 60.
The wine industry on Long Island grew in spurts over the 1980s and 1990s, tempered by real estate prices, said Hargrave, director of Stony Brook University Center for Wine, Food and Culture.
Last year’s vintage and the Hamptons’ celebrity summer residents may give Long Island producers the publicity they need, just as director Alexander Payne made a star of Santa Barbara, California, wine country four years ago in the hit movie `Sideways.’
“Long Island needs its moment,” Vaynerchuk said. “It wouldn’t surprise me if P. Diddy buys a property in Long Island and plays up the Hamptons. That would create awareness, just like “Sideways” was tremendous.”
To contact the reporter on this story: Gillian Wee in New York at gwee3@bloomberg.net.
Last Updated: May 9, 2008 00:01 EDT
It’s very exciting news that the Sag Harbor Village Boards are, one by one, approving the plans that have been put forth by Cape Advisors for the Bulova Residential Plan. It’s been said that the project will take 5 years, and the economic rewards to the village will last for at least 100 years.
Peter Neely and Hamptons.com did a video of local merchants here
For more info, also goto: www.savesagharbor.com/
It’s not an uncommon scenario. Not to be cynical, but so much of our destiny is controlled by people who don’t live here, but wish they did, but they can’t and are not very happy about it so they feel a little “so there, you fancy-schmancies” is in order.
It’s why many have been trying to create “Peconic County” consisting of the 5 East End Towns. Why should we be ruled by people who have never even been here, some 50 miles away?
The same for the Long Island Board of Realtors. Why should a board from West Islip regulate how listings are handled on the East End, where we have a very different culture and way of doing business. That’s why HANFRA, the Hamptons and North Fork Realtors Association has grown to 1000 members in recent years - local rule!!
We’ll now we have the Long Island Power Authority - LIPA - who says they need to provide more power lines to the East End in order to keep up with demand, and they want to put up these big ugly poles along our roadways. Needless to say, many of us are against it.
Here’s one of the stories:
As we’ve noticed the number of empty storefronts in East Hampton Village continues to grow.
I’ve been looking for a location in East Hampton for our next Remax Beach Properties office and the asking rents have gotten up to Madison Avenue rates. $10,000 per month, triple net for a 1200 sqft raw space that needs $150,000 worth of improvements to make it acceptable as a real estate office is a bit much!
That being said, I suppose the market dictates the lease rates and it’s up to us to be creative about our location choices.
The East Hampton Star has more
With a growing group of local residents coming together to Save Sag Harbor, it’s great to see our local politicians coming together figuring out how to preserve the Bay Street Theater for generations to come.
See Christine Bellini’s article: Theater’s Future Will Be In The Small Print
[tags]beachamptons, sag harbor, save sag harbor, Hamptons, bay street theater, Community preservation fund, conservation[/tags]
