Realty Check

If you needed further proof that capitalism is alive, well, and summering “out East,” look no further than the Hamptons housing market — now, as always, indexed to Wall Street bonus season.

As financiers collected what the Office of the New York State Comptroller forecast to be more than $60 billion in payouts, the sand dunes of the Hamptons were quietly repriced upward. The median home price in the fourth quarter surged to a record $2.34 million, up roughly 34% year over year, according to a report by Douglas Elliman and appraisal firm Miller Samuel. The average sale price climbed even higher, to $3.76 million. Apparently, comp season pairs nicely with ocean views.

Jonathan Miller, CEO of Miller Samuel, put it bluntly: “Record compensation/profits on Wall Street for the past two years are the main driver out east. The Hamptons is joined at the hip with Wall Street.” Translation: when bonuses boom, so do bidding wars in Southampton.

Financiers now account for more than half of Hamptons buyers, according to local brokers. Total sales volume in 2025 hit a staggering $6.2 billion — a 25.6% jump from the prior year, per William Raveis. In the fourth quarter alone, the average sale price hovered near $3.5 million. For comparison, that’s roughly seven times the national median home price — but who’s counting?

Actually, everyone is counting. Especially the sellers.

The Bonus-to-Beach Pipeline
The ritual is by now well established. November arrives. Whispers of “strong performance” circulate through downtown trading floors. December bonuses are hinted at. By January, spreadsheets are opened, helicopters are booked, and the Jitney hums eastward.

In 2025, average securities bonuses climbed above $244,000, with total annual pay averaging over $505,000, nearly five times the New York City norm, according to State Comptroller Thomas DiNapoli. That kind of liquidity has consequences — namely, 82 homes selling for more than $5 million in the fourth quarter alone.

Sales in the $20 million-plus category jumped 59% year over year, hitting 27 deals. The $10 million to $20 million range tallied 77 transactions, while the $5 million to $10 million bracket logged 209. The high end wasn’t just healthy — it was doing CrossFit.

Inventory: Still Scarce, Still Expensive
If you’re wondering whether all this buying frenzy has at least created more listings, the answer is a gentle shrug. There were 1,070 listings in the fourth quarter, up just 0.6% from the year prior. Limited inventory, meet unlimited bonuses.

And most of these deals aren’t tangled in mortgage underwriting. Miller estimates that roughly 65% to 70% of Hamptons purchases are all-cash. When Wall Street sneezes, East Hampton doesn’t reach for a tissue — it checks its escrow account.

And many ultra-high-net-worth buyers aren’t even tethered to traditional bonus timing. Private equity principals and hedge fund partners so loaded, they don’t need a December payout to justify a July infinity pool.

Buyers, brokers say, are decisive and calculated — not panicked. The pandemic-era migration redefined what affluent New Yorkers want: larger homes, dedicated offices, waterfront access, and enough acreage to host a charity fundraiser without bumping into the neighbors (or the neighbors’ helicopter).

A Little Political Weather
Some brokers quietly acknowledge a secondary tailwind: politics. The recent election of Zohran Mamdani has prompted what one agent delicately called “undercurrents” among wealthy New Yorkers. Mamdani has pledged rent freezes and higher taxes on the rich — though he has also acknowledged that Wall Street bonuses helped plug a multibillion-dollar city budget gap.

Whether those undercurrents become a tidal wave remains to be seen. But historically, when city politics grow chilly for the affluent, the Hamptons forecast calls for sunshine.

Case Study: 104 Quimby Lane
If you happen to have $24.5 million rattling around in your brokerage account, and you’d like Roger Waters as a neighbor, 104 Quimby Lane in Bridgehampton awaits. Hedgerow Exclusive Properties exclusively represents the property.

Set on three gated acres south of the highway, the 12,500-square-foot shingled estate offers eight bedrooms, 10 full baths, two half baths, and the kind of indoor-outdoor flow that makes architects swoon. A double-height foyer opens to formal entertaining rooms and a great room with fireplace. The custom white kitchen includes a butler’s pantry and wet bar; an additional chef’s kitchen handles fundraiser-scale catering with commercial-grade appliances.

Upstairs, the primary suite occupies its own wing, complete with sitting area, dual walk-in closets and a spa bath. The lower level delivers a gym, media room, wine cellar with tasting table and staff quarters. Outdoors, a heated gunite pool, spa, pool house, north-south tennis court and detached three-car garage round out the amenities. Solar panels top the pool house, because even emperors of cash appreciate a tax credit. 

Joni Mitchell Warned Us About This
In a development that feels equal parts civic-minded and deliciously ironic, a $26 million mansion at 1950 Meadow Lane in Southampton is slated to be bulldozed and replaced with a public beach parking lot.

The Southampton Town Board unanimously approved the purchase of the three-story, 11-bedroom estate from owner Frances Katz, clearing the way for Town Supervisor Maria Moore to finalize the deal. Once complete, the oceanfront property — currently valued at $27.5 million — will become one of the town’s most expensive land acquisitions ever. The property was listed exclusively with Tim Davis of Corcoran.

Yes, one of the Hamptons’ priciest stretches of real estate, often dubbed Billionaire’s Row, is about to trade manicured hedges for painted parking lines.

Town officials say the move is about more than prime asphalt. The two-acre parcel includes maritime dunes and beachfront along the Atlantic Ocean that previously lacked environmental protections. Acquiring the property will preserve sensitive shoreline habitats while expanding public access to the beach.

The purchase is being funded by Southampton’s Community Preservation Fund. In this case, that war chest is turning private luxury into public infrastructure — a rare reversal in a zip code better known for exclusivity.

Meadow Lane stretches toward Southampton Village’s public heliport, a favored landing spot for the helicopter set. Soon, however, beachgoers arriving by SUV will have their own front-row access.

Demolition is still months away. But eventually, the 11-bedroom “castle” will give way to something far more democratic: a place to park. 

The $84.9 Million “Cottage”
Of course, $27.5 million is practically entry-level compared to the deal that’s already making 2026 blush.

An oceanfront estate known as Dune Cottage, at 43 East Dune Lane in East Hampton Village, recently went into contract with a last ask of $84.9 million. Originally listed at $120 million, the 3.6-acre property enjoys 225 feet of ocean frontage between the Atlantic and Hook Pond, adjacent to the storied Maidstone Club. The property is listed with Chris Covert of the Modlin Group and Terry Cohen of Compass.

Built in 1910 and designed by architect Grosvenor Atterbury, the stucco mansion was once part of an 80-acre estate owned by ink magnate Frank Wiborg. His daughter, Jazz Age socialite Sara Murphy — said to have inspired characters in the works of F. Scott Fitzgerald — inherited the property.

The estate’s history reads like a Gilded Age screenplay. A larger mansion on the grounds was intentionally burned in 1941 after becoming too costly to maintain. The remaining “cottage” passed through notable hands, including Lee Radziwill and filmmaker Herbert Ross. At one point, Jerry Seinfeld reportedly had a signed contract to purchase it, only for the sellers to back out.

In 2001, private equity pioneer Thomas H. Lee and philanthropist Ann Tenenbaum acquired the property for $16.2 million, later undertaking significant renovations, including rebuilding after a 2013 fire while preserving its historic character. Lee’s death in 2023 ultimately brought the estate back to market.

Today, the 11,000-square-foot residence includes 10 bedrooms, 12 full baths, a guest studio, screening room, gym, and a dramatic oceanside pool accessed through a private dune grotto. It is, as listing agents like to say, irreplaceable — a word that here means both architecturally unique and financially out of reach for all but a rounding error on a fund’s balance sheet.

Modern Property Returns With a $4 Million Reality Check
If you missed your chance to spend nearly $15 million on a Hamptons showpiece, don’t worry — it’s back, with an improved asking price.

The 5.6-acre estate at 74 Cranberry Hole Road in Amagansett has returned to the market for $10,995,000, down from its 2023 ask of $14,995,000. Listed by Adam Hofer and Michael Lorber of Douglas Elliman, the property is still described as one of the area’s most “over-the-top modern compounds” — just now with a $4 million price adjustment.

The 10,000-square-foot home, originally built in 2017 and recently renovated by The Up Studio, leans hard into seamless indoor-outdoor living. Massive accordion doors in the main living area open directly to a resort-style pool, blurring the line between “great room” and “five-star wellness retreat.” 

Ocean views complete the package, in case the acreage didn’t already tip you off that this isn’t your average beach cottage.

And acreage there is: 5.6 sprawling acres with no immediate neighbors. Translation: host the extended family, the startup off-site, or a tasteful summer rager without anyone calling security.

Amenities read like a boutique members club: a fire pit, bar pavilion, 12-person stainless steel hot tub, catering kitchen, screening room and full gym. There are nine bedrooms, nine full bathrooms and two half baths — because at this level, running out of bathrooms is simply not an option.

The listing calls it “a private members club disguised as a house.” At $10.995 million, membership still isn’t cheap — but at least now it’s discounted.

What About Rentals?
Summer rental activity is already brisk, brokers report, despite snow still blanketing the East End. One agent recently rented a waterfront property from July to Labor Day for nearly $1 million. Wealthy New Yorkers who relocated to Florida during the pandemic are now buying Hamptons homes as northern escapes from southern heat. Californians are joining the mix. Friends want to be where their friends are.

And somewhere in midtown, a managing director is refreshing a brokerage app, wondering if that $27.5 million Bridgehampton estate might actually be… prudent.