Realty Check

With a Dollop of Hamptons Gossip

The Hamptons sales market continues its fevered pace. This month, we can report on a $30 million sale, two $32 million sales, and one Sagaponack property, last ask $48 million, now in contract. There are also several hotels and inns for sale, and Mr. Million Dollar Listing, Ryan Serhant, expanding in the Hamptons.

You Say Potato, I Say Sold!
Well, in contract, at least. The highest priced new listing in the past month or so was under contract before it even hit the market. 35 Potato Road and 543 Daniels Lane in Sagaponack were listed by Christopher Covert and Chris Coleman at Compass.

There are two separate parcels that add up to almost four acres, which were marketed as “a once in a generation opportunity to create a legacy estate compound by the sea.” The 35 Potato Road property currently has a 5,200-square-foot, seven-bedroom house along with 250 feet of direct ocean frontage. But the charms of the existing house almost certainly don’t matter, as the house will likely be hearing the siren song of the bulldozer before long. We’ll be interested to see what is built on the property, on both parcels.

Sell It Like Serhant
Ryan Serhant’s brokerage will add its Hamptons office location, known as SERHANT. House Hamptons, in Water Mill on Montauk Highway, this summer. (Yes, it did physically pain us to type “SERHANT. House Hamptons” with the full stop. Thanks for asking.)

Anyway, ol’ Ryan said in a statement, “The Hamptons is one of the most incredible luxury real estate markets in the world; I have always had an active presence here, across all price points, and I’m excited to be bringing our firm to the Hamptons to better serve our local agents and clients.

“We’re building a real estate brokerage for the future, and that includes the way we think about office space. Like our headquarters in Manhattan, SERHANT. House Hamptons will be designed to be somewhere agents want to be — it won’t be a cube farm, but rather a gathering space designed to inspire networking, collaboration, and a strong company culture, empowering everyone who visits to achieve success.” 

Like the first SERHANT. House (not sure we can do this much longer) in New York, the Hamptons version will boast “a lounge area and experiential space for clients, coworking space for agents and an outpost for SERHANT. Studios, the firm’s in-house film and production team.” 

WAINSCOTT AT $30 MILLION & RECORD $32 MILLION IN AMAGANSETT
The attractive oceanfront Wainscott residence in the spot that used to be Kilkare’s guest house has traded for $30 million. There are only seven oceanfront properties in Wainscott, and they are often referred to in real estate circles as “the Magnificent Seven.” This one includes the most sought-after plum, membership in the ultra-exclusive Georgica Association. Sellers were investment banker Frederic Seegal and wife Robin Seegal; the buyer was an anonymous LLC.

Represented as a co-exclusive by Bespoke Real Estate and Ed Petrie of Compass, the two-acre spread boasts 161 feet of premium ocean frontage. This is a relatively new house, with five bedrooms, five full bathrooms and two half baths in more than 6,500 square feet. Most rooms have a beautiful ocean view and/or views of Georgica Pond.

In 2001, the then owners of Kilkare sold two of the estate’s original five-plus acres for $6 million to the Seegals. The guest cottage that sat on the property was razed, and in 2005, a new house, designed by Shope Reno Wharton, and built by Ben Krupinski Builder, arguably the best builder in the Hamptons, began to rise above the dunes in a very appealing, timeless Shingle Style design. The resulting house is relaxed and open concept, with a massive living space beneath rustic wood beams. The open kitchen sports a fireplace and outside, there’s a carriage house and a lovely pool.

Two more oceanfront properties traded for just a teensy bit more at $32 million, one in Bridgehampton and one in Amagansett. The Bridge property, on Surfside Drive, sold off market, which is bad news for us looky-loos. Property records indicate the boxy contemporary, at 6,352-square-feet, was built in 2003 and has six bedrooms. Set on 1.27 acres, the residence also offers an oceanside pool surrounded by lots of decking, fabulous views from the second-story deck, and a long boardwalk that stretches across vegetated dunes to the beach.

The Bluff Road residence sold for a cool $32 million, which is a record for Amagansett. And if any property deserves to be a record-breaker in Amagansett, surely it’s this sweet spot. At 2.6 acres, the property is very large for Amagansett, plus it is surrounded by more than 100 acres of beachfront reserve that ensures total quiet and privacy. And, of course, there’s the direct, boardwalk access to a long stretch of quiet beach, the real reason for the record-setting price.

Hotels for Sale!
Two hostelries have recently been listed. The first is the Mill House Inn and Graybarn Cottage in East Hampton. Listed by Sarah Minardi at Saunders & Associates, the three separate properties are asking $13.75 million. The inn offers 10 guest bedrooms and suites, 15.5 baths, commercial and chef’s kitchens, two offices, ample common space, storage, laundry and staff accommodation. On Buell Lane, Graybarn Cottage is a three-bedroom 1950s potato barn with a one-bedroom guest house.

Too rich for your blood? Go west! The Drake Inn property at 16 Penny Lane, Hampton Bays, offers 15 recently renovated units, a three-bedroom main residence, a waterside pool and six dock spaces. Asking $8.75 million for the property and the business, the inn is listed with John Frangeskos and James Peyton of The Corcoran Group.

The efficiency units, being sold fully furnished, were renovated in 2020. Units range between 300 to 400 square feet, including a bathroom, kitchenette, air conditioning, and a 300-square-foot covered porch.

Project Lyme Raises Over $1.31M
Project Lyme, a leading nonprofit dedicated to conquering Lyme and other tick-borne diseases, announced that its third annual gala raised over $1.31 million. The money raised will support Project Lyme’s mission to eradicate the epidemic of tick-borne diseases through awareness and education, support of cutting-edge science, and advocacy for solutions to end the suffering. Hosted by actress and comedian Ali Wentworth, the event saw over 300 people in attendance for Project Lyme’s first fundraiser since Covid.

Including heartfelt, touching, and insightful conversations from keynote speakers and event honorees, Lyme patients of all different ages saw their stories reflected on stage. New York Times columnist Ross Douthat and Editor of the Yale Review Meghan O’Rourke spoke in-depth about their Lyme journeys. Referencing their recent books, they discussed misdiagnosis, ineffective treatments, and a naive health care system.

Honorees Kristen and Joey Farrell were interviewed by Ali Wentworth. Joey spoke about his fight with chronic illness while Kristen, Joey’s mother, shared how much work it took to find the cause of his sickness, which inevitably was revealed to be Lyme disease.

Ch-Ch-Changes
Dennis Gallagher, Licensed Real Estate Salesperson at Brown Harris Stevens, is a former sales executive in the financial services industry. Bringing 25+ years of experience in global sales, he delivers a comprehensive array of real estate services in a personal, discreet and ethical manner. His extensive skill-set encompasses marketing, consulting, contract negotiation, valuation, and effective communication skills.

Dennis is an active member of the Hamptons communities he serves; relationships he has built with town offices, local trades and financial institutions have deepened and enhanced his knowledge of the local real estate market.

Liz Doyle Carey joins Sotheby’s International Realty fresh off a successful career in publishing in New York City, where she worked with premier authors, brands, and licenses to create

 award-winning books and calendars that flourished in the marketplace. She is also the author of more than 40 published novels for kids. Leveraging her unique background, Liz believes every property is a special setting just waiting for the right characters to bring a new narrative to life. Her key skills, developed over 20 years in a discerning customer-driven industry, include robust creativity, keen deal-making, good timing, and sharp judgement. 

An active volunteer, Liz has served on the board of managers of the East Hampton Library, as the co-chair of the East Hampton Library Children’s Fair, and at the East Hampton Food Pantry. Liz is married to a general contractor, and they live full time in Amagansett with their three sons.