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Thanks to Editor Steven Nicastro steven.nicastro@patch.com at The Levittown Patch, we have the Long Island beach Guide, which we have excerpted the Hamptons Section.

And while, it is typically difficult for “out of area” folks to do our local delicacies justice, Steven has done a pretty good job describing our beaches.  Just the same, it is a fairly comprehensive list, so check it out:

THE HAMPTONS

While the western Long Island beaches are great, world-class, even, the beaches on the South Fork stretching from West Hampton Dunes to Montauk are a rare breed, marked by rolling waves and soft sand set in front of some of the most dramatic real estate in the United States. Since the region has dozens of beaches, each unique, please click through to each expanded directory listing for more details. Fees and permits vary depending what village and town or village manages the beach. In many cases, parking permits are only available to locals, but taxi options and walk-ons give visitors the opportunity to enjoy the beaches.

Westhampton – Hampton Bays

Beaches in this stretch are part of the Westhampton Island, a barrier island like Fire Island to the West. In this case, Dune Road runs the length of it, from the quiet of West Hampton Dunes, the party-heavy Westhampton Beach and ending at Ponquogue Beach in Hampton Bays at the gateway to the Hamptons.

Quogue Village Beach – One of the quietest beaches on Dune Road west of the Shinnecock Canal, Quogue Village beach is low-key, with a playground and a concession stand to go with the perfect sand.

Cupsogue Beach – This Suffolk County park is a local paradise, with long sandy beaches, a cabana, hiking trails, four-wheel access, free Wi-Fi and the chance to spot local seals sunning on sandbars.

Lashley Beach – Managed by the Village of Westhampton, Lashley is offers a local hideaway and surfing spot that far less rowdy than the shores at the Dune Deck Beach Resort nearby.

Ponquogue Beach – This beach, run by the Town of Southampton, is another local gem, stretching to the end of the barrier island. Beach, surf, concessions and showers are available, but the family atmosphere is what attracts most. It’s a gorgeous spot.

Tiana Beach – Another county-run beach, but this ones has a few different faces. By day it’s lazy and family oriented, but with the nearby clubs Tiana can become a lot more spirited as the day rolls on.

Meschutt Beach County Park – Being on the interior of the Shinnecock Bay brings still water to this county beach. Camping, boating and bathing are great here, and so is the seafood served at the Meschutt Beach Hut.

Southampton

Southampton’s beaches are pristine, with heavyweights Cooper’s and Sagg Main Beach often scoring top ranks in national polls. Permits and fees can depend on which municipality is running the beach and a few offer daily passes, often only on weekdays. Either way, the scenery is like no other, with perfect dunes and picturesque estates stretching for miles.

Shinnecock East County Park – The only Suffolk county beach in Southampton, Shinnecock East is actually the westernmost beach on The Hamptons coast. A major fishing spot, Shinnecock highlights its undeveloped scenery. Southampton

Southampton Town

Sagg Main Beach – This might be perfect Hamptons beach setting, with few features to get in the way of the scenery. Perhaps that’s why droves of seasonal visitors tend to choose this beach. Every other Monday evening during the summer, Sagg Main Beach is the site of a large drum circle, with other spectacles like the occasional visit from fire dancers. No weekend passes for non-residents.

Mecox Beach – This Bridgehampton beach offers endless sand, and limited amenities. The setting is enough. Offers weekend non-resident passes.

Flying Point Beach – If you aren’t local, be sure to make arrangements to get to this Water Mill Beach since no daily passes are available. Incredibly scenic, with the dramatic Channel Pond behind the beach and the Water Mill beach Club nearby. No weekend non-resident passes.

Long Beach Park (Foster Memorial Town Beach) – Located in the hamlet of Noyac, Long Beach Park brings the expected calm of a bay beach, with still waters that are great for boating and fishing. On a narrow strip of land popular with sunbathers, it is a safe and scenic route for cyclists. Offers non-resident passes.

Southampton Village

Coopers Beach – Selected by “Dr. Beach” in 2010 as America’s best beach and, more recently, by National Geographic Traveler as the No. 2 family beach, Coopers is definitely a local champion. The only village beach with lifeguards, Cooper’s also gives visitors the option to rent chairs and umbrellas and has a complete concession stand to keep visitors well fed and hydrated. Grassy dunes, soft sand, and stately mansions dot the horizon at Coopers. And if the parking fee is too steep, the bike ride from Southampton Village isn’t so bad. The newly launched SpotRide will take you there for free.

The rest of Southampton Village beaches each offer their own slice of the coast, and in many cases give locals and returning seasonal guests serene getaways from the often crowded “scenes” at some of the more notable beaches in Southampton. Summer-long permits are required at Fowler Beach,Cryder BeachRoad G BeachHalsey Neck BeachWyandanch BeachGin BeachLittle Plains Beach and Old Town Beach while no permit is required at Road D Beach.

Sag Harbor Village

Havens Beach – For fans of North Fork Beaches, Sag Harbor’s Havens Beach is your typical scenic Peconic Bay treasure, with views of sailboats on the smooth bay waters and Shelter Island’s coast in the distance. Typical Sag Harbor resident only pass required on weekends in season.

East Hampton – Montauk

The riches of Hamptons beaches continues into East Hampton, where the sands, waves and the mansions tend to swell as you move East. But cross into Montauk and the surf clubs and swank scenes start to change until you at last hit Camp Hero with its miles of wilderness, bluffs and the Montauk Lighthouse at The End. For East Hampton and Montauk beaches, fees and accessibility depend on who runs them, but services such as Hamptons Free Ride can help visitors without permits get on the beaches.

Camp Hero State Park – The end of Long Island, Camp Hero is a wilderness like no other, with interior trails frequented by hikers, bikers and horseback riders, a museum, the historic Montauk Point Lighthouse and steep, dramatic bluffs that fall into the rough Atlantic Ocean. State park fees apply on the weekends, but the park is open for free during the week. A very popular spot for surf casting, too.

East Hampton Village

Main Beach – Easily the most visited beach in East Hampton, Main Beach offers a full pavilion with food and drinks, piping plover nests and grassy dunes along a stretch of beach that yearly attracts droves for its perfect vantage point to watch the Labor Day fireworks. It can definitely get crowded, though.  Village Parking passes required between Memorial Day and Labor Day…** Parking tickets will be given out for no pass!

Georgica Beach – Normally a peaceful beach for visitors who want less hub-bub, devastating erosion from Hurricane Irene has left this beach closed while officials work to replenish the sand and fix the damage. Village Parking Permit required.

Wiborg Beach – Located right near the Maidstone Club, the tucked-away and very scenic Wiborg has long been a favorite of surfers. However, there are no bathrooms or lifeguards here, though approvals for lifeguards are in the works. Village 
Parking Permit required.

Egypt Beach – On the other side of the Maidstone Club, Egypt is a bit more rugged than its neighbor Wiborg, but locals know it as one of the best places to catch the sunset. No lifeguards, though.

Two Mile Hollow Beach – A large parking lot with a daily rate makes this beautiful beach another often visited attraction. Not much by way of amenities, but very relaxing.

East Hampton Town

Indian Wells Beach – While the sand and surf are big draws here, as well as the family friendly atmosphere and volleyball courts, the row of food trucks that park there give this beach a unique draw. Surfers love it, too.

Ditch Plains – Another beach loved by locals and visitors alike, Ditch Plains is a huge favorite of surfers. Only two miles from the heart of Montauk, the beach also has beautiful cliffs that stand out in a region where sand dunes are more common to find on the beach.

Like Ditch Plains and Indian Wells, lifeguards can also be found at ocean beaches such as Atlantic Beach in Amagansett, Kirk Park Beach in Montauk and Edison Beach in Montauk while unprotected and still incredibly scenic beaches include Little Albert’s Landing in Amagansett Lazy Point in Amagansett, South Lake in Montauk, Beach Lane in Wainscott and Townline Road Beachin Wainscott. Kirk Park offers a daily rate on weekdays.

The town also has a few bay beaches that offer calmer waters for young swimmers and spectacular boating and fishing. Those are Albert’s Landing in Amagansett, Gin Beach in Montauk andMaidstone Park in Springs.

It’s reported that the $50M Corzine to Tepper deal in Sagaponack is being done sans broker.

I can hear the “Aw, shucks” (or something similar) being exclaimed at every bar and pilates class on the East End, not that I have been to either during this wicked allergy season.

So, how much does an agent make on a $50,000,000 transaction? I’m sure many of you imagine MILLIONS!

The reality depends on a several factors:

1- The agreed upon commission between the seller and the listing agent.

Every agent enters a listing presentation aiming for the highest commission they can get the seller to agree to.

6% commission is common in many places, but never guaranteed. Some markets go as high as 7 or 8%.  It’s not uncommon for the higher priced home owners to negotiate the commission down to, lets say 4 or 5%.

2- The agreed upon “offer of compensation” between the listing Broker and the Broker that brings the buyer.

In the Hamptons and Manhattan, the commission is typically split 50/50 between the listing Broker and the Broker who brings the buyer.  In other areas of Long Island, the listing Broker usually keeps a larger amount of the commission and offers out less than 50% to the Broker that brings the buyer. Why? Greed, and they get away with it. Saps!

3- The “Split” between the agent and the Brokerage they are working for.

Note that the commissions on any transaction are paid to the Brokerage the agent works for. The Brokerage keeps their share and pays out the split to the agent who did the work on the transaction.    Most agents start out at 50% (although we hear that one major Brokerage out here has started a new 45% tier) and as they gain experience and increase their gross commissions to the Brokerage, their split increases to, say 70% or greater in some cases.  See an interesting chat on Hamptons Brokerage splits here.

4- Was the customer or a client a Referral or are you working on a Team?

It is not uncommon for big clients or customers to be referred by their family members or best friends who have a real estate license. And the referral fee is usually 20 – 25% of the commission your Brokerage earns on the deal. Many are very justifiable and from hard working professionals that have been working with these clients for years, but don’t have the local expertise or connections needed to complete the transaction in an area outside their own market (common with second homes), but when they are “just the result of a phone call”, they can sting a bit.

Regarding teams, with the 24-7 nature of the real estate business today, many professionals have formed teams so someone can always be available to their clients. Often team members share in all commissions that come into the team.

5- Our Dear Uncle Sam

Most Agents are 1099 contractors and pay their own taxes.

Now for the reality

So, take a $50,000,000 sale and apply the above reduction mechanisms to it and I bet the number that spits out is less than you thought it would be!

Best case scenario:

One agent @ 5% commission:  $2, 500,000

@ 70% split w Broker:  $1,750,000

- 35% US taxes:  $1,137,500

Not a bad take!

Likely Scenario:

Listing agent and Selling agent @ 4% comission; $1,000,000 each

@ 65% split w Broker:  $650,000

- 35% US Taxes : $422,500

Still enough for a one-bedroom in The Springs, but…

Worst case…

add a referral fee of $25% and split it with a team member and the final commission on that $50M sale is about $160,000.

STILL A GREAT PAYDAY, but less than your imagination led you to believe.

And remember, there were approximately 10 sales of this magnitude in the US in 2008 and there are approximately 1.3M agents in the US.

It ain’t easy folks and I admire any agent who gets the opportunity to be part of a deal of this size.   It’s rarely “dumb luck” and often the result of years of hard work, building relationships, planting seeds and weeding the gardens of their business that results in this good fortune.

Southampton Town Is Squaring Off With Suffolk County Over East Hampton Jetties
Hamptons.com
“The decision by the Second Circuit will impact the public beaches, the real estate industry, as well as public policy for future generations.

…………

Smith & Wollensky in Steak-for-Stock Deal
AdAge.com
the local economy could be catastrophic, leaving large tracts of land in the Hamptons and Martha’s Vineyard undeveloped, legions of real estate brokers,

………..

Billionaire businessman buys Sagaponack estate for $14 million (Not just ANY Billionaire, but Real Estate Maven Henry Silverman)
Newsday (subscription) (press release)
Real estate sources say that Silverman rented designer Joanne Corzine’s Sagaponack house last summer for a record-breaking $900000 and that Corcoran’s

…………..

Picking Over the Bubble Decade
East Hampton Star
By Kate Maier (02/04/2010) Real estate agencies that operate on the East End have begun to release long-term market reports that put the recession-induced

………….

‘;Now Is the Time’
East Hampton Star
What should have amounted to a straightforward, win-win real estate transaction for all parties involved unfortunately has been met with repeated delays.

………….

Hamptons New York Home Sales Climb 59% as Deal Seekers Buy

Two other real estate brokers issued Hamptons sales reports this month. The Corcoran Group, based in Manhattan, said annual home sales tumbled 22 percent in

Don’t know why they used Zillow for any info on Sagaponack? Zillow is still waaaaay off in The Hamptons and their info is very unreliable here.

Sagaponack, NY

That being said, this is not the first time that Sagaponack has been named America’s Most Expensive Zip Code and it may not be the last.  Sagaponack has been on fire since mid 2009, much of the wood for that fire provided by two new subdivisions in the tiny toni Hamlet. The median, average, mean…every type of statistical price defy national, regional and other local trends…it’s a so-called panacea of real estate.

Sagaponack Greens is the subdivision bought for $25M in 2005 by high-flying attorney/Hamptons real estate investor Alan Schnurmann. While the 2008/9 market gave him a scare, it looks like he will easily double (or better) is money on this project.

The Gibson Lane sub-division, on the property directly behind Billy Joel’s two oceanfront homes sold like hot-cakes this past 8 months. Why? It’s one of the most beautiful spots on earth! (and the Billy Joel buzz  did’nt hurt)

In 2009 the median home sale price in Sagaponack was $4,421,458… The median home price in the U.S. last year fell to $174,100, according to the National Association of Realtors.

Sagaponack is not the only rarefied real estate market, no matter how poorly the country’s housing market is doing. Long Island’s two counties, Nassau and Suffolk (where Sagaponack is located) account for more than half of the 50 most expensive small towns in America. Nearby Water Mill (No.6) and Bridgehampton (No. 8) command median sale prices of $2,238,676 and $2,081,717, respectively.

see the story here

While the market is down, it’s clearly not out (all together).

Someone who might have been in the market to buy an oceanfront home for $30, $40 or $50 million might see it as a wise investment to rent for the summer and buy later..

And, if there’s any two agents that are going to be involved in that deal, it’s Beate and Susan…two of the best! Nice going girls!  Also, kudos to the Ex-Mrs Corzine for a terrific investment.

An oceanfront home in Sagaponack belonging to the ex-wife of New Jersey Gov. Jon Corzine recently rented for $900,000, real estate sources say.

corzinewifehouse

Susan Breitenbach of The Corcoran Group brought the renter, says a spokeswoman for the agent. She declined to identify the customer’s identity, but did say that it might be a record-setting price for a seasonal rental in the Hamptons. Beate Moore of Sotheby’s International Realty, the listing agent for the property, agrees. “It is a big number,” she says.

The lease is for Memorial Day to October.

The 6,200-square-foot, six-bedroom, 5.5-bath home is on a gated property. The 6.64-acre estate includes a heated gunite pool, a Har-tru tennis court and more than 500 feet of ocean frontage along Gibson Beach.

The house was signed over to Joanne Corzine in 2002 as part of her divorce settlement from Gov. Corzine.

- VALERIE KELLOGG

REAL LI Blog – Newsday.com

The Landscape Design teacher to area students at Bridgehampton High School is bringing The Edible Schoolyard concept developed by Alice Waters at Martin Luther King, Jr. Middle School in Berkeley, CA to BHHS.    “Using food systems as a unifying concept, students learn how to grow, harvest and prepare nutritious seasonal produce. Experiences in the kitchen and garden foster a better understanding of how the natural world sustains us, and promote the environmental and social well being of our school community.”  Great stuff, eh?
.
Judiann Carmack-Fayyaz
Judiann Carmack-Fayyaz

Edible Schoolyard Proposed At Bridgehampton

Posted on 11 September 2008 – Katnryn Menu, The Sag Harbor Express

“More than a decade ago, chef Alice Waters founded the Edible Schoolyard in Berkeley, California sparking a national culinary movement to bring the production of food back in time from the fast, cheap and processed fare of the 1980s and ‘90s to organic methods of cultivation almost abandoned in the fast food age, resulting in healthier foods higher in protein and vitamins.

And now Judiann Carmack-Fayyaz wants to execute the same concept in Bridgehampton.

During a Bridgehampton Union Free School District Board of Education meeting on Monday, September 8, Carmack-Fayyaz presented to the board the concept of creating an Edible Schoolyard at Bridgehampton as a way to further the landscape and environmental design course she leads at the school.

The class would seek to create a garden at the school using the principles of organic and sustainable farming, which Carmack-Fayyaz noted could involve a number of educational disciplines in its execution. She envisions the garden — which she said could be similar to programs developed at the Hayground School and at Sag Harbor Elementary School — ultimately being used by the whole school to promote healthy eating habits and possibly even supply the school’s meal program with fresh fruits and vegetables.

The garden would be designed by the landscape design class with a kitchen garden and greenhouse planned behind the administration and middle school buildings at Bridgehampton, according to a handout provided by Carmack-Fayyaz. At this point, she was simply seeking board approval to move forward with the concept, so students can begin drawing up plans for the project and fundraising. She said it will be the landscape and environmental design class’s main project of the school year.

“Can you grow some herbs for our café,” asked school board vice president Elizabeth Kotz.

The board said they were indeed interested in the idea.

Spec builders grow cautious in Hamptons

 

Hamptons developers turn to pre-construction marketing to mitigate expenses

 

A six-bedroom spec home on 1.5 acres at 493 Parsonage Lane in Sagaponack is still on the market, but builder Joe Farrell said he rented it for $600,000 for the summer.

By Julia Dahl

Speculative building is a risky endeavor almost anywhere. From the initial land purchase to the process of obtaining permits, hiring an architect and overseeing construction, building a home before you have a buyer is not for the faint of heart. In tony spots, like the East End of Long Island, where the price of land has gone up seven-fold in the past 10 years, it can be an even bigger risk.

And a year after the subprime mortgage crisis, it can be downright dangerous.

“I can’t imagine why anyone would go into speculative building right now,” said Walter Molony of the National Association of Realtors.

Nationwide, building is down. Though spec building isn’t broken out from the stats, new housing starts dipped 27 percent from 2007, which was itself a drop of 24 percent from 2006.

However, Michael Davis, a longtime developer of high-end properties in the Hamptons, argued that, “the Hamptons is unique.” Davis, who has already sold one spec home in Southampton this year for $5.9 million, has two others in the works. “If you’re in the right location in the Hamptons,” he said, “demand exceeds supply, even now.”

Still, market watchers are aware that even the Hamptons have not been completely immune to the fluctuations of the national market. In Southampton, for example, the number of new dwelling permits issued so far this year is just over a third of what it was in 2005. Between January and June 2008, the town handed out 62 permits — down from 88 last year, 130 in 2006, and 175 in 2005.

According to Michael Daly, a broker with RE/MAX Beach Properties who also blogs about Hamptons real estate, a select group of developers and builders (including Michael Davis) have been betting on the Hamptons market for decades — and though they may be adjusting their expectations, they certainly aren’t packing it in. Instead, said Daly, some speculative builders have begun marketing their new homes pre-construction, thereby reducing the, well, speculation.

“More and more builders are putting out their products with sophisticated renderings and floorplans, seeking to gauge the level of interest before they start building,” Daly said.

He estimates that there are about one-third fewer “new construction” homes currently on the market in the Hamptons than there were last year. Of those approximately 135 homes, Daly said that about one-third are being offered “pre-construction.” He said that pool of inventory includes 60 percent of the homes on the market with asking prices above $10 million and 42 percent of the homes currently listed between $2 million and $5 million.

In Bridgehampton, for example, one 6,000-square-foot oceanfront property is listed for $22.9 million “total turnkey,” or alternatively for $15.9 million “as is with plans and permits.” In Quogue, a 9,600-square-foot bayfront property with a wine cellar, gym and tennis court on 4.1 acres is being offered pre-construction for $15.5 million.

“Builders are trying to mitigate a bit of their exposure,” said Daly, who points to 35 homes in the area that have been built but not sold.

Bernard Markstein, senior economist and director of forecasting for the National Association of Home Builders, said “mom-and-pop speculators, the people who got in during the housing boom, have largely shaken out or are licking their wounds trying to figure out what to do with their property. The long-term players, on the other hand, are simply trying not to overextend themselves.”

Custom homebuilder Joe Farrell is one of those long-term players. Farrell, who Daly called “one of the most successful builders in the Hamptons,” said he’s sold eight speculative homes in various stages of pre-construction, at prices ranging from $2.1 million to $18 million, in the last six months.

“One house [is] sitting a little longer than usual, but we ended up renting it for $600,000 for the summer,” Farrell said.

Still, he does admit to being a bit more cautious in the new market. “I’m only buying land if I can get a great deal,” said Farrell.

For his part, Davis said that about one-third of his current business is speculative construction and that the volume of spec homes he’s working on hasn’t changed much in the past year.

“Last year when subprime hit, it sounded as if the real estate market as a whole was going down the tubes,” said Davis. “But I think it’s unfortunate that the press tends to generalize.”

Don Sharkey, the chief building inspector for the town of East Hampton, said building permits overall are “definitely down about 10 percent.” But, he notes, they don’t have data isolating new construction.

Meanwhile, Don Louchheim, the mayor of the Village of Sagaponack, told The Real Deal that the village is currently considering four subdivision proposals, representing about 100 acres total.

The right location, said agents and builders, is key, as are views.

Jeffrey Colle, who has been building and restoring high-end homes in the Hamptons for 30 years, said he is “absolutely as busy” as he was two years ago.

Colle is currently at work on a $40 million spec home in East Hampton, on which he is sparing no expense — from 18th-century fireplaces to bathtubs carved in Italy. The 12,000-square-foot home on Georgica Pond abuts a meadow reserve and will boast an infinity pool, six bedrooms, seven fireplaces and “sunsets that’ll knock your eyes out,” he said.

Colle said he’s already had brokers from Sotheby’s come by, as well as potential buyers from as far away as California and Australia. “I’ve been out here 30 years, and I’ve never seen the top of the market go down,” said Colle.

And that’s good news for other high-end developers like Robert Gianos, who has spent several years preparing to construct a Southampton subdivision that some have dubbed “Billionaire’s Corner.” Nothing like your typical suburban tract home, Gianos’ Olde Towne is reportedly inspired by the look of the village from when it was originally settled in the 1640s. Lots are reportedly priced at between $18 and $22 million.

“He’s building for untouchables,” said Daly, who reasons that since Gianos’ potential buyer won’t care what the price of gas is, the developer needn’t fret over market fluctuations either.

1Q 08

Jonathan Miller has put together the market report for the East End.

Read the complete report here

 

newsday subprime mapThere’s all sorts of nifty new fact and figures coming out about sub-prime.  Here’s a map from Newsday showing the percentage of mortgages for 2006 that were sub-prime loans.

Presumably, that will give an indication as to how many foreclosures might be in these community’s future?  Looks like the East End has a much lower overall percentage than our sister markets to the west.  see map here

oNE MILLION dOLLAR BILL

Ok everybody, here we go again with the MEDIAN price figure.

Raise your hands: How many of you REALLY know what MEDIAN price means and CAN EXPLAIN IT!?!?   Median is like a Metric figure to me. Like: “What, you want me to walk two kilometers?” or, “WOW! that was a matter of centimeters!!!” Sorry, it’s pretty meaningless to me…for a definition of “median”,try this

Would it make it any better or worse to know that the AVERAGE price of Hamptons Real Estate is now over $1.6 Million? Impressed? Depressed?  

SHEH3rdQtr2007

for more info: http://www.suffolkresearch.com/quarterlycharts.htm

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