Realty Check – March Issue

The Butler Did It
After being fired from The Creeks, Ron Perelman’s sprawling 57 acre Wainscott estate, the billionaire’s butler went on a $9,000 spending spree using several of the household’s credit cards. His revenge went wrong when he was caught and landed in court on a grand larceny charge. Frank Squadrito, 26, lived it up at Manhattan’s Landmarc restaurant and unnamed hotels. The defendant’s attorney claimed that his client is bipolar and that he only spent $3,000. You just can’t get good help these days.

The Award Goes To
While Douglas Elliman agent Raphael Avigdor is a top real estate producer, who knew that he also produces documentary films? His past credits include Blue Gold: American Jeans, about the history and lore of one of the world’s favorite fashion icons – narrated by Ed Burns and featuring Tommy Hilfiger, Isaac Mizrahi, and Brooke Shields. His film most recent doc, The Man Who Saved the World, about the actions of a Soviet military officer who prevented the start of a worldwide nuclear war, has won Best Documentary at the Danish Academy Awards. In production now is Ruth, a film that chronicles the life and work of grand dame of fashion, Ruth Finley, 96, who has inspired the careers of such luminaries as Ralph Lauren, Diane Von Furstenberg, Donna Karan, and Calvin Klein. Avigdor “is proud to tell real life stories of extraordinary people doing extraordinary things.”

Picture Perfect Rental
A Meadow Lane mansion with cinematic cachet is for rent from August through Labor Day for $500,000. Sited on 4.7 oceanfront acres, the home is 8,000 square-feet, including five bedrooms and was featured in episodes of “Louie” and “Royal Pains” according to the New York Post. Bells and whistles include a glass-walled indoor pool, with a brand new spa, sauna, and steam room. Did we mention the outdoor, ocean-side heated pool? Evan Kulman of Compass has the listing.

HRES Comes Alive
Hamptons Real Estate Showcase is proud to be the first magazine in the Hamptons to introduce Augmented Reality interactive technology to its readers. Bridging the gap between print and online media, just download the free LAYAR app to your mobile device, scan the front cover – and watch it come to life. Abracadabra!

Splitsville
Actress and animal rights activist Missy Hargraves and her ex, TV producer Jeff Ross, have put their Water Mill residence on the market for $5.5 million in their attempt to split their assets. The 3,500 square-foot house built in 1955 boasts cedar-beamed vaulted ceilings, five bedrooms and bathrooms, and a gym. Accessed by a private lane, the property has an outdoor kitchen and water access for kayaking and paddle boarding, and canoeing while Hargraves is living in Manhattan and dating Jacques Azoulay, the wine importing ex-beau of Bravo Housewife Countess LuAnn de Lesseps, Ross is living in LA. The listing broker is Angela Boyer-Stump of Sotheby’s International Realty.

Ch-Ch-Changes
Hamptons real estate veteran Joseph De Sane has joined Compass as Senior Managing Director of Sales. Drawing upon more than 16 years of real estate experience, Mr. De Sane will oversee sales operations at Compass’s Southampton office at 30 Nugent Street.
“We are excited to welcome Joseph to Compass as we continue our tremendous growth in the Hamptons region,” said Compass Founder & CEO Robert Reffkin. “He possesses a winning combination of infectious charisma, experience, local expertise, and a drive to create a better real estate experience for agents and customers.”

A graduate of Southampton College with a degree in the creative arts, Mr. De Sane is an accomplished actor and painter who is a fixture on the local arts scene.

Buried Treasure?
“Will the Treasury Department’s investigation of luxury homes purchased with cash by an LLC draw attention to the Hamptons?” So asked a headline in hamptons.com of an article by John Viteritti. The Treasury Department, he writes, announced that it will begin investigating cash purchases of real estate by LLCs in Manhattan over $3 million, and in Florida over $1 million. Apparently the Treasury is concerned that “dirty money” is being put into luxury real estate. Ya think?

Investments Rising
Mansion prices in wealthy enclaves such as the Hamptons, Beverly Hills and Aspen, show no signs of abating. In Beverly Hills the median sales price for a home jumped 54 percent in the fourth quarter over last year, to $5.5 million, according to sales data from Douglas Elliman. In Aspen, the median home price went up 35 percent to $6.7 million. And in our neck of the woods, a record number of homes sold for more than both $5 million and $10 million. In other words, the very rich see trophy homes as a solid investment.

Selling New York
Hotshot Douglas Elliman agents Tom Postilio and Mickey Conlon, stars of HGTV’s “Selling New York,” have closed their first Hamptons listing since joining the firm – a shingle-style, four bedroom Amagansett house for $2.75 million. That’s $55,000 more than the $2.695 million asking price. It probably doesn’t hurt that the duo (Postilio is a former professional singer and Conlon a Broadway producer), boast a bevy of celebrity clients including Liza Minnelli and Barry Manilow.