Category Archive

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

Read the complete report here

We are so pleased to announce that Jeanine Edington has joined Re/Max Beach Properties of The Hamptons as Vice-President.

Jeanine is a professional career Realtor who has listed and sold hundreds of properties amounting to multi-millions of dollars from Southern Indiana and Kentucky to New York and The Hamptons.

I had the priviledge of working with Jeanine a few years back at Prudential Douglas Elliman and watched her become a force in Hamptons real estate while she was with the Corcoran group. 

We’re genuinely excited to start 2008 with the addition of an Associate of Jeanine’s caliber as we begin our second full year of operations, here in the Hamptons.   md

for more info on Jeanine, goto: http://www.jeanineedington.com/

There’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

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?  

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

Eight Hamptons Lots

New York attorney and real-estate investor Alan Schnurman has just gotten approval to sell eight lots in a Hamptons subdivision, 41 acres in all, for $64.5 million — about 2½ times what he paid two years ago.

In 2005, the 62-year-old personal-injury lawyer paid $25 million for the farmland, in Sagaponack about a quarter-mile from the ocean. Authorities approved the division last month, says co-listing agent Neil Bersin of Prudential Douglas Elliman. The lots lie just west of one of the largest homes in the country, the 100,000-square-foot mansion owned by investor Ira Rennert.

In May, Mr. Schnurman sold six lots on 26 acres in Bridgehampton to a real-estate developer for the $37.5 million asking price. He’d paid $12 million in 2005, he says. That buyer is now trying to sell the lots for nearly $50 million.

[tags]Beachamptons, Beach properties, Hamptons,  sagaponack sales figures[/tags]

I don’t care what time of year or how many people are here or how many homes have been built…this is one of the most beautiful places on earth.

Some people just like to bitch and complain. Listen to this one: 

“There’s too many cars on the road, too many people who don’t know how to drive, and the feeling here is, ‘Wouldn’t it be lovely to keep some of them away?’” the editor of the East Hampton Star, David Rattray, said in an interview yesterday. 

And this:“The traffic is beyond disgusting,” the co-owner of Vered Gallery in East Hampton, Janet Lehr, said. “We see our clients from Southampton to Westhampton and Quogue in the winter, but they just don’t come during the summer months, and I don’t blame them.”

This is the Hamptons, ladies and gentlemen. - love it or leave it!

Sagaponack / Wainscott border, April 2007

Mother Nature showed us both how powerful She is and how much She loves us during this weekend’s Nor’easter here in the Hamptons.

Many trees were downed and the ocean boiled and roared.  But after hearing warnings of a storm approaching that would be equal to or harsher than the 1992 storm that took over 100 houses in Westhampton and seriously eroded beaches along the entire south fork coast, we remained relatively unscathed, albiet quite impressed.

Water came over the dunes at Main Beach in East Hampton and the popular parking lot was closed today, as the village crews pushed the sand back onto the beach.

The photo above was the most serious erosion I saw as I drove from beach to beach along East Hampton, Wainscott, Sagaponack, Bridgehampton, Water Mill and Southampton. 

I passed actor Roy Scheider as he picked up small pieces of windswept debris around his oceanfront property off Gibson Lane in Sagaponack, clearly relieved that his property, which is reportedly on the market for sale, was intact. 

Another clients home on Gin Lane remained secure and the dunes stood strong, but the beach up to the dunes was swept away during the storm. md

Westhampton (now the village of Westhampton Dunes), 1992 

“Townline BBQ, the barbecue joint now being constructed in the Sagaponack location that was formerly Allison by the Beach (3593 Townline Road). The space is owned by Mark Smith and Honest Management Company, who operate the massively successful Nick & Toni’s, as well as Rowdy Hall, La Fondita and Villa Italian Specialties. Pitmaster/chef at Townline will be Joe Realmuto. ” eater -more here