As we head into the holidays, how is the Hamptons real estate market doing? Per usual, it’s wild and unpredictable. Spoiler alerts: Andrew Cuomo managed to buy an estate for less than its owners paid a decade ago. Meg Ryan made $1.75 million on paper in two years. A non-oceanfront Montauk house fetched $23 million after three days on the market, and a Sag Harbor condo that sold for $4.8 million during Covid is now worth $7.3 million.
There is absolutely no coherent lesson here except the traditional Hamptons one: location matters, timing matters, and having several million dollars lying around remains an extremely effective real estate strategy.
The Ex-Gov Buys a Stunner
Apparently, losing an election is much easier to take when you have 234 feet of waterfront.
Former New York Gov. Andrew Cuomo has purchased Seatuck Lodge, a sprawling historic compound on Seatuck Cove in Remsenburg, paying $9.6 million for 7.35 acres with a private beach, dock, grandfathered boathouse, guest house, pool, tennis court and restored windmill. The deal closed June 23, less than a year after Cuomo lost his 2025 bid for New York City mayor, and was conducted through an LLC, allowing it to slip by relatively unnoticed at the time.
More impressive than the privacy, though, may be the discount. The property and three adjacent vacant lots were originally offered together for $17.5 million in 2022. The 4.19-acre main compound was later offered separately for $11.9 million, then reduced to $10.9 million. Cuomo ultimately picked up all four parcels for $9.6 million in cash. In Hamptons terms, that is practically coupon clipping. Listing agent was Lauren Spiegel of Douglas Elliman.
The sellers were Wells Fargo CEO Charles Scharf and his wife, Amy, who bought the four parcels through various LLCs in 2016 for a combined $10.875 million, then extensively renovated the property.
Seatuck Lodge itself dates to the 1890s, when it was built by school textbook author Alonzo Reed. It later became a hunting lodge before returning to use as a private residence. The 6,300-square-foot main house now has nine bedrooms and nine-and-a-half bathrooms, along with an elevator and modern mechanical systems, proving that even a 19th-century hunting lodge eventually learns that stairs are for other people.
There are wood-burning fireplaces, a paneled library, a chef’s kitchen with Wolf appliances, two ovens, two dishwashers and a 17-foot island, plus a temperature-controlled wine room. The primary suite has radiant floors, dual closets and French doors opening onto a deck overlooking the water. Outside are a 40-by-20-foot heated saltwater pool, pool house with sauna and gym, Har-Tru tennis court and five-car garage equipped with a hydraulic lift.
The lift may actually come in handy. Cuomo is a car enthusiast who famously rebuilt his 1968 Pontiac GTO himself. He is also a longtime fisherman and boater, which makes the property’s dock and grandfathered boathouse considerably more useful than the usual Hamptons amenities.
Apparently, the former governor bought the house in part to be closer to his siblings. Chris Cuomo has a home in East Hampton, while their sister Madeline has a place in East Quogue. Cuomo regards the purchase partly as an investment and intends eventually to sell the vacant parcels.
Remsenburg, meanwhile, continues its transformation from the place people vaguely passed on their way east into a legitimate luxury market of its own. The hamlet’s previous residents have included Stan Lee, Guys and Dolls songwriter Frank Loesser and, wonderfully, P.G. Wodehouse, who wrote some of his Bertie Wooster and Jeeves stories there. It remains considerably less expensive than the traditional Hamptons villages, with an average home value of about $1.87 million, while offering water, privacy and the crucial luxury amenity of being somewhat closer to Manhattan.
I’ll Have What She’s Having
Farther east, Meg Ryan has demonstrated that there is still money to be made in the old-timey Hamptons pastime of buying a perfectly nice house and selling it shortly afterward for considerably more.
Ryan sold her Bridgehampton estate at 53 Matthews Lane for its full $15.25 million asking price. She paid $13.5 million for the property in 2024, listed it at the end of May and had a contract about a month later. The buyer was Broadway and entertainment producer Henry Tisch. That works out to a $1.75 million increase, or roughly 13 percent, before taxes, transaction costs and whatever alarming sums are required to keep a Hamptons lawn looking as though no blade of grass has ever experienced adversity. Evan R. Kulman of Compass represented Ryan in the sale, while Douglas Elliman’s Paul Brennan and Martha Gundersen brought the buyer.
The 1.5-acre property is south of the highway and tucked behind gates at the end of a long flag lot near Ocean Road. Its 6,500-square-foot cedar-shingled farmhouse was designed in 2016 by Bridgehampton architect Kitty McCoy and contains five bedrooms and six-and-a-half bathrooms. The grounds, designed by LaGuardia Design Group, include mature specimen trees, an oversized heated gunite pool and covered outdoor entertaining areas.
Ryan has form in this area. Over the years she has bought, renovated and sold apartments in Soho and Tribeca as well as several houses in Montecito, California. She once told Architectural Digest that renovating gives her something acting does not: control. With real estate, she explained, she gets to bring her own vision into the world. And, occasionally, bring $1.75 million more back out of it.
A New Record at the End
Meanwhile, Montauk — once beloved for its fishing boats, surfers and cheap motels –continues to set new price records.
A newly built house at 29 Wills Point Road in Culloden Point has sold for $23 million, setting a record for the most expensive non-oceanfront home ever sold in Montauk. The property was listed July 24 and went into contract just three days later, ultimately closing Sept. 7 at the full asking price. The deal beat Montauk’s previous non-oceanfront record by a cool $6 million.
The contemporary residence, designed by Piero Lissoni, contains 10,000 square feet on 1.6 acres overlooking Fort Pond Bay. Built by Walker Ridge and developed by JK Living, it has seven bedrooms, walls of glass, a Boffi kitchen, rooftop lounge and central courtyard arranged around a mature Japanese maple. Outside is a 56-foot infinity pool, pool house, outdoor kitchen and private path to the beach.
Listing agent Kyle Rosko of Douglas Elliman has now broken his own Montauk non-oceanfront record three times: first at $14 million, then $17 million and now $23 million. (No wonder we see a lot of Rosko’s for sale signs around town lately!)
A Watchcase Penthouse Trades Up
Sag Harbor’s Watchcase Factory has produced another hefty number. Penthouse 402 at 15 Church Street has closed for $7.3 million. The approximately 1,937-square-foot residence spans two levels and includes three bedrooms, two full bathrooms, two powder rooms and a private rooftop terrace overlooking the village and water. The main level is arranged around an open great room with kitchen, dining and living spaces and a fireplace. Listing agent was Jeremy Dunham at Compass, while Susan Sprott and Barbara Bornstein at Sotheby’s brought the buyer.
The price is notable because the same unit sold during the pandemic for $4.8 million. That is a $2.5 million increase — more than 50 percent — in the space of a few years. To be frank, we’ve been thinking for some time that the gorge Watchcase units are underpriced. Glad they’re finally coming into their own.
On the Waterfront
Poised on 250 feet of direct frontage along Sag Harbor Cove, this 11,723-square-foot masterwork by Andre Kikoski, Sofia Joelsson, and Ed Hollander is about as close to having it all as Hamptons real estate gets. A private beach, a deep-water marina with two 60-foot slips, and four levels of floor-to-ceiling glass make this the kind of address people spend careers working toward. The rooftop terrace with full outdoor kitchen overlooks the Cove with sunset views that make dinner reservations feel beside the point. The primary suite occupies its own private wing with a spa bath in fluted Fior de Bosco tile and Black Cosmic granite, while guest suites finished in Zebrino marble and Canaletto walnut ensure nobody is roughing it. A private Technogym, four-car garage, and Rolls-Royce-engineered power system complete the picture, all steps from Sag Harbor’s Main Street.
Most recently asking $15.5 million, the residence sold for $12.2 million, with Douglas Elliman’s Nicole and Zachary Tunick bringing the buyer to the deal. The Tunick Team also co-listed alongside Bespoke Real Estate and Nest Seekers.
