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“The locals and longtime summer regulars are bitter about interlopers turning Montauk
into an eastern expansion of East Hampton. The arrivistes—Kelly Bensimon, Amanda Hearst, Andre Saffir, and legions of others who only a few years ago, never would have ventured West of the canal or East of Napeague Stretch—are there for the very thing the locals fear they’ll destroy. The newcomers want to outrun the development they wrought. The barbarians are at the gate, and they’re wearing Givenchy jeans and Ed Hardy T-shirts. They love the light, the air, the natural beauty, but they bring with them the market for trendy shops and, eventually, Starbucks, Blockbusters and CVS. When the chain stores arrive, stalwarts and recent arrivals alike will decry that the place isn’t what it used to be together, and wish they could move further east, to find some place more pure, more authentic, that doesn’t have a Coach store next to a Gucci store next to an Elie Tahari. The problem is, after Montauk, there’s nowhere further east to flee.”

Coming to The End: Montauk’s Indian Summer Dies Out

September 04, 2009

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East Hampton tax hike is certain
27east.com
By Beth Young The only thing that’s certain about the preliminary budget that East Hampton Town Supervisor Bill mcgintee plans to present by the end of

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Hamptons Cesspools Keep Towns’ Character as Sewers Are Stymied
Bloomberg
2 (Bloomberg) — Commercial and residential development in the Hamptons, the seaside playground for wealthy New Yorkers, is being held up as politicians

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The Wisdom of Seller Financing

June Fletcher, Wall Street Journal

You’ve got a buyer, but he can’t obtain a traditional mortgage and needs you to be the lender. Should you take the deal?
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Madoff’s Montauk Home to Hit Market at $8.75 Million
Bloomberg
“You’ve got a lot of competition” said George Simpson, president of Suffolk Research Service Inc., a Hamptons real estate data firm.
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Walk on the Wild Side: Lou Reed Moves to the Hamptons
TwentyFourBit
I said recently that TwentyFourBit wouldn’t be the place for Cribs-esque posts, but screw it ’cause some of these living music legend real estate stories

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Bottom-Fishing on the East End

casaCARA: Old Houses for Fun and Profit

I’VE BEEN GETTING FED UP with house prices here in the Humptons. Yesterday my friend Debre and I stumbled upon an old farmhouse with a ‘For Sale’ sign on Old Stone Highway in Springs, below, found the door open (!) and the realtor’s flyers conveniently stacked on the kitchen counter. I was hoping it was under $1mil. In fact, they’re asking $2.5mil.

Curbed Hamptons: Gere Sells, Madoff Mysteries, And More!
Curbed
1) For celebrities as for the rest of us, the way to move property this summer in the Hamptons is with liberal use of the ol’ PriceChopper.

To Unload a Mansion, Many Must Turn to Auctions
New York Times
But increasingly, people with multimillion-dollar homes who need to raise money are discovering they have few alternatives, as the luxury real estate market

In ritzy East Hampton, beware the deadly tire boot!
Mother Nature Network
(Credit: Flickr/quinn.anya) You have to be tough to take a seaside vacation in the Hamptons, the billionaires’ paradise on the upscale end of Long Island.

Reverse mortgages on the rise as seniors find financial security
The Virginian-Pilot
“Money was getting kind of tight, so I called a real estate dealer I knew and told him I thought I’d sell and move up north, closer to family,

Lloyd Blankfein Misses the Mark
Cityfile
Who’s going to keep high-end real estate brokers busy? Who is going to keep the fancy stores on Fifth Avenue in business? (Besides tourists from China,

hamptons_area

Restaurants used to change hands every year on the East End. With the growth in year round population, things have changed and many restaurants are now open 12 months and have had the same owners and chefs for years. I really appreciated this piece by Robin Finn:

Long Island Dining | East End

Six Meals to Prove the Experts Wrong

Maxine Hicks for The New York Times  SOCIALITE Rachelle Hruska is the face behind GuestofaGuest.com, an online event diary.

Maxine Hicks for The New York Times ... SOCIALITE Rachelle Hruska is the face behind GuestofaGuest.com, an online event diary.

In this part of the world – The Fabulous Humptons – it’s difficult to avoid celebrity news and gossip – something we have tried to resist, keeping to relevant real estate info as much as possible.

Well, here’s one stunning up-and-comer who not only makes celebrity fun, she is making the pursuit of it admirable, having started Guest of a Guest, a tasteful, positive side of life social site that makes everyone look their best in the process.

Guest of a Guest chronicles night life from the city and the Hamptons through dozens of daily posts and photographs. For followers of such coverage, the coin of the realm has traditionally been exclusivity, a sneering velvet-roped rejection. But GofG, as it calls itself, gives civilian readers the illusion that they can attend these parties, too, as virtual guests. Who would believe that the effusiveness of Nebraska Nice could sell? But in bad-news times, maybe that’s precisely why it does: the site, Ms. Hruska said, which began on April 1, 2008, broke even just this month.

see the NYTimes story here

Southampton Looks To Pay-Off CPF Debt As Revenues Continue To Plummet
Prompted by a proposal raised by Southampton Town Supervisor Linda Kabot, the Southampton Town Board is considering the creation of a reserve fund for the sole purpose of paying back debt accrued from the town’s Community Preservation Fund (CPF) program. Click Here For More

The New Hamptons: Cheaper Real Estate, Younger Girlfriends, And
The Business Insider – New York,NY,USA
Vanity Fair has nice long piece on post-financial crisis Hamptons, and he main is basically: Yes, it’s exactly how you imagine it is.

Reclaiming lawns: stop polluting and save the environment

Publication: The East Hampton Press & The Southampton Press
Jun 2, 09 6:31 PM
By Suzanne P. Ruggles

While many forms of life can survive without oxygen, none can survive without water. And as hard as we try, with all of our intellect… continue

Goldman’s Blankfein Says Economic Recovery Will Be ‘Shallow’

By John Rega and Christine Harper

June 10 (Bloomberg) — Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said the economic recovery will be “shallow.”

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High-end Hamptons rentals still for the last minute shopper

Newsday – Long Island,NY,USA 

(**Ed note: take this one w a grain of sand**)
Jane Gill of Prudential Douglas Elliman Real Estate says that while the market has been steady this year, in the last week or so, “all of a sudden it’s

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The Southampton house that Jack Nicholson rented

Jack may not have built this house, but he rented it a few years back while filming scenes in the Hamptons for the movie “Something’s Gotta Give.” Jack is Jack Nicholson and the house is a 5,800-square-foot, five bedroom,…

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All about the 2009 Hampton Designer Showhouse

The 2009 Hampton Designer Showhouse will be held this year at a new home on David’s Lane in Water Mill. The shingled house was constructed by Hamptons-based Farrell Building Company — whose principal, Joe Farrell, just put a Bridgehampton…

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Paulson’s Complaint
Newsweek – USA
Paulson began having his doubts about Fuld—and the future of Lehman—as early as October 2007, when Lehman made a big bet on commercial real estate even

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Times: Hamptons Just Like Us, Cutely Conserving for “Thrifty” Summer

(**ED note: agreed, this Sunday Styles article had me gagging)

Gawker – New York,NY,USA
For example, they’re still going to The Hamptons this summer, but they’re going to be toning it down. What, you’ve heard this story before? Funny.

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Blue Parrot Takes Back Prime Perch In East Hampton Village
Hamptons.com – Southampton,NY,USA
By Colin M. Graham East Hampton – The restaurant rumor mill has been in overdrive since news that the Blue Parrot would be reopening this summer first hit

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MTA Payroll Tax Provokes East End
East Hampton Star – NY, USA
Property owners are likely to shoulder that burden by paying increased real estate taxes. Mayor Greg Ferraris said at a Sag Harbor Village Board meeting on

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Assessments will not reflect economic downturn
27east.com – Southampton,NY,USA
By Brian Bossetta The drastic downturn in the economy and the drop in real estate values have not been reflected in this year’s tax assessments,

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Modern Architecture in the Hamptons

Built in 1983, this modern design recently hit the market with a price tag of $4.95 million.
WSJ

More Homes in California Are Selling

WSJ  -California’s housing market showed improvement in March as sales of existing single-family homes rose 64%.

‘Underwater’ vs. Foreclosure

Why most people who owe more than a property’s worth will still keep their homes.

Home Prices Sink, but Pace Is Slower

Home prices slid in February, S&P/Case-Shiller data showed, but the annual pace of decline slowed. Consumer sentiment surged in April.

Infamy! Summer ’09, the Hamptons
New York Observer – New York,NY,USA
Christopher Robbins is the vice president of Robbins Wolf, the high-end event-planning company that puts together the Hamptons Classic Horse Show;

Corcoran Consolidates East Hampton Offices

One month after closing two East End offices, Corcoran is now consolidating its two Main Street offices in East Hampton.

The Surf Lodge in Montauk Opens for the Season on May 15

Summer is officially upon us: the Montauk Surf Lodge will be opening for business starting on May 15th. The Hamptons hotspot has been accepting rezzies since April 15th, and…

23% drop in prices of Hamptons homes
New York Daily News – New York,NY,USA
HOME PRICES in the Hamptons, the oceanside playground for the rich and famous, are plummeting. The financial crisis that fueled 23000 lost jobs on Wall

In Southampton Epley, McGann And Robinson Make Bids For Third Terms
Hamptons.com – Southampton,NY,USA
“Twelve years ago, the Hampton Road firehouse was inadequate,” Robinson offered, explaining that improvements have still not been made.

Have the Hamptons lost their cachet?

The Real Deal, New York, NY

Hamptons Home Prices Plummet 23% as Summer Home Demand Cools
Bloomberg – USA
By Oshrat Carmiel April 23 (Bloomberg) — Home prices in the Hamptons, the oceanside getaway of celebrities and Wall Street financiers, plummeted in the

Hamptons, North Fork median home prices fall
Newsday – Long Island,NY,USA
BY ELLEN YAN | ellen.yan@newsday.com Hamptons and North Fork median home prices this year saw the biggest quarterly drops since a Manhattan-based appraiser

EECO Farm Offers Prime Loam For The Veggie Grower In Your House
Hamptons.com – Southampton,NY,USA
East Hampton – Most people have probably entertained the idea of starting a garden and growing their own vegetables at some point or another,

Tale Of Gin Lane Wall Stands Tall As Bricks Cave To Time
Hamptons.com – Southampton,NY,USA
According to the 2007 book “Houses of the Hamptons,” – an illustrated history of Hamptons’ estates from 1880 to 1930 written by Gary Lawrance and Anne

I had the good fortune of working with Diane at Corcoran, soon after she and her partners sold the Dayton Halstead brokerage to Cendant (now Apollo) and they joined the Corcoran brand.

In a sea of controversy, back-biting, jealousy and all around insidious behavior, led by several of the former Cook Pony Farm agents who were rebelling about being acquired by Corcoran only a few months earlier, Diane remained unflappable; cool, calm and professional. She’s the best of the best.

libn

Diane Saatchi

Diane Saatchi

After boosting Dayton-Halstead to $133 million in sales, Saatchi left the three-office boutique brokerage in East Hampton to become a vice president with the prestigious Corcoran Group.

Diane also has an impressive assortment of  sales, land and rental listings. See them here.

and see the interview with the Long Island Business News below.

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Diane Saatchi holds the keys to the Hamptons

by David Winzelberg
Published: April 10, 2009


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