Busy Summer Season Predicted

Busy Summer Season Predicted
Buyers Remain Motivated To Invest In The Hamptons By Ruth Thomas

Matt Lauer has had a busy summer in real estate. First the Today Show anchor purchased Strongheart Manor, the North Haven compound of Richard Gere, for a reported $33M. We noted in a recent column that now that the property had been reduced to a salable figure it would go fast, and it did. Within a Hamptons minute of the price being lowered to $36.5M, Lauer scooped it up. The 6.2 acre waterfront property was listed originally in 2013 at $65M, nearly double the final ask. Lauer then proceeded to put a waterfront North Sea house on the market for $3.95 million, which he’d bought for $2.15M in 2009. The Cape Cod-style 1,800 sf abode is set down a nearly mile-long drive and overlooks a cove with bulkhead and private dock. As if that weren’t enough activity, in July the Lauers listed the 25 acre Deerfield Road estate where they hold court in the Hamptons for $18M. We hear that Lauer and his equestrian wife, Annette, will be holding onto Bright Side Farm, their 40 acre Water Mill horse farm. But we’re not so sure.

Don’t know listing agents.

After 18 years at her 20-plus-acre Tower Hill estate in Bridgehampton, Christie Brinkley has put it on the market for $29.5M. Built in 1891, the main house has a 50-foot observation tower with views from the Atlantic Ocean to the Connecticut shore. There’s also a four bedroom guesthouse, greenhouse conservatory, and separate barn/artist studio. The supermodel’s personal touches can be found throughout, notably in the large country kitchen where she installed a fireplace made out of stones collected from a local beach. Enzo Morabito of Douglas Elliman has the listing.

Meanwhile, Christie’s ex, architect Peter Cook, has just purchased a three bedroom waterfront ranch house three properties away from his previous home in Sag Harbor for $2.175 million. The structure, which boasts a dock and views of Sag Harbor Bay, will make a nifty renovation project for Cook, who is known for stunning redesigns of homes with potential. It was the listing of Corcoran’s Mala Sander.

In case you missed all the fuss, an “elite” sex orgy hosted by Killing Kittens (not a name relished by cat lovers) was held at a “sophisticated private estate” in Northwest Woods in early summer. But did you know that the touchy feely ode to “afternoon delight” took place on a property that is for sale? The Hands Creek Road home, on the market for $6.495M, is on 13.5 acres and boasts a tennis court, pool house, chef’s kitchen, mudroom, library, wine cellar and screened porch. Listed by Town and Country.

Kean Development Company has announced the opening of Tower House, their second residence in Olde Towne, the builder’s uber luxurious Southampton development. Like its sister property, Twin Peaks, the new fully furnished house is set on four lush south-of-the-highway acres with pool, pool house and sports courts. The interiors were designed by the top-drawer firm, Ingrao, with state-of-the-art amenities and elaborate smart house capabilities. A third house is on its way.

Hot shot builder Joe Farrell and his wife, Kristen, ….have stepped into the NYC spec market with their first NYC gut renovation….

The power couple only purchased the Penthouse duplex with wraparound terraces at 510 Park Avenue in January when they paid $4.4M for it. Completion date is November 2016 enacting the same “build it like you mean it” motto in time and quality. Let’s hope that design diva Kristen has put her stylish stamp on the abode. Their listing price? $8.995M. The Farrells will continue to partake in the Gotham lifestyle, however. They still own a three bedroom pied-à-terre in the building, which they bought in 2013.

Vanity Fair has chronicled the fascinating “fall from grace” of Manhattan landlord Steven Croman who spent the past decade amassing 140 apartment buildings in that borough, not to mention a home in Sagaponack. The party boy was known to throw lavish events including a bash in Southampton inspired by both Studio 54 and the Playboy Mansion. Speaking of over the top, the real estate tycoon and his wife have spent years converting the 23 apartments at his building at 12 East 72nd Street into a single mega-mansion. But in May Croman was charged with 20 felonies including criminal tax fraud and grand larceny, which could land him in jail for up to 25 years. He is accused of ruthlessly ousting rent-regulated tenants before turning their homes into “market-rate cash cows.” New York Attorney General Eric Schneiderman has referred to Croman as the “Bernie Madoff of landlords.”

Just when you thought you could put a lovely cobblestone apron connecting your drive to the street, the Town of Southampton has changed their standards. Belgian blocks, cobblestones or other ornamental driveway aprons are no longer permitted. Now only cement and asphalt aprons are allowed in the easement area between your property line and the street servicing your home/property.