Realty Check: Hot Sales & Listings…with a dollop of hamptons gossip
Here’s What We’ve Learned So Far:
At the time of this writing, there were 2,447 active listings in the Hamptons. Of those, 1,669 had been added to the market since January 1, 2019 and just a touch over 600 of those active listings have come on since July 1.
As for the closes, there were 856 transacted properties from January 1 to October 1; 271 of which sold from July 1 to October 1. A total of 388 of those purchased were put on the market during this calendar year. So far, the highest priced recorded sale has been 939 Scuttle Hole Road in Bridgehampton. That property, represented by Zachary Vichinsky and Cody Vichinsky of Bespoke, went for $49 million and closed in early June.
Specially built for(e) those who love their irons and woods, the spectacular 58-acre compound at Three Ponds Farm has its own 18-hole private golf course designed by Rees Jones. Wow.
In addition to the par-70 course, the former dairy farm comprises a spectacular estate, complete with Italianate mansion, two ponds (plus two more just beyond the property lines), pool, pool house, grass tennis court, halfway house for golf, caretaker’s cottage and a number of service buildings. Out East has the listing first appearing for sale on its site in January 2018.
On the other end of the scale, the least expensive property sold was a two-bedroom, one-bath mobile home park unit in East Hampton. That went for $80,000 and was listed with Andrey Trigubovich of Douglas Elliman.
Coming up with future potential closes, to date on October 1, there were 289 active listings in contract or with offer and acceptance. More than two-thirds of the properties (197 of them to be specific) in contract were added in 2019.
Currently, the highest priced property to beat is still 1080 Meadow Lane in Southampton. Listed for $150 million, it’s represented by Harald Grant and Bruce Grant of Sotheby’s International Realty and has been on the market since February 2018.
The lowest priced is a $49,999 open listing at 620-49 Montauk Highway in Westhampton Beach. The 640-square-foot manufactured home, listed since February of this year, has two bedrooms and one bath and is located in the Suffolk Pines Trailer Park.
Those tracking hot markets should pay special attention to the Westhampton Beach area, where demand, and prices, are definitely on the rise. Of the 308 active listings, 11 are over $10 million and 28 are over $5 million. Those are significant numbers for an area that has been undervalued for decades.
The same area has seen 120 sales since the first of the year, as of October 1, and 36 more in contract or with an accepted offer. The biggest sale so far? The $6.7 million new construction at 611 Dune Road in Westhampton was put on the market in October 2018 and sold for very close to initial ask. Enzo Morabito of Douglas Elliman represented the listing and Ashley J. Farrell of Corcoran represented the seller.
Wine & Vines
Stefan Soloviev, the CEO of Crossroads Agriculture, Co-head of Solow Building and son of real estate mogul Sheldon Solow, is set to purchase the 53-acre Peconic Bay Winery property in Cutchogue for an undisclosed price before year’s end. It had been previously listed for $3 million but does not look to be active at the time of this writing. Soloviev, an East Hampton resident, who already owns approximately 150 acres of planted vines in the area and a total of 1,000 acres on the North Fork, is reportedly on the lookout for a winemaker. He purchased Santa’s Christmas Tree Farm, also in Cutchogue, for $1.8 million at auction in July. The wealthy real estate magnate joins a growing list of deep-pocketed buyers snapping up winery land on the North Fork. Randy Frankel, part owner of the Tampa Bay Rays, was one of named investors who bought Croteaux Vineyards in July and mining mogul José Antonio Rivero Larrea bought Martha Clara Vineyards in Riverhead last year.
Southampton Art Deco Building Sold
An Art Deco-style former car dealership across from Agawam Park in Southampton Village sold last month for $2.25 million and the new owners say they do not plan to tear the iconic structure down. David and Simone Levinson, who purchased the former B&M Automotive building at the corner of Pond Lane and Hill Street, plan to give the building a face-lift and clean up the inside, according to Hal Zwick, director of commercial real estate at Town & Country Real Estate. However, until the time comes that the village has a sewer district in place, the use of the property is strictly limited to a non-wet use. That means no restaurants. The building dates back to 1951 and displays many aspects of the Art Deco-style — but it was not listed as historical in village documents. Linda Kabot, the listing broker with Town & Country, confirmed in early September that the building was sold on August 22. Ms. Kabot represented the former owners of the property, the Hauquitz family. The property was originally on the market for $4.2 million.
Celebrity House Spotter
Ron White of Saunders & Associates had a lot to celebrate in October when Jimmy Fallon and his film-producing wife, Nancy Juvonen, showed up at one of the agent’s open houses in Sagaponack. And he’s got the Insta pix to prove it! We’re guessing it was 28 Wilkes Lane, which is listed for $7.95 million. The property is sited on 2.3 acres and comes with an arrow-shaped pool and spa, and a circa-1997, 5,290-square-foot home with eight bedrooms and six baths.
Brown Harris Stevens welcomes Patrick Clancy to the Hamptons. The agent, who is a former all-conference lacrosse player, is also licensed in Palm Beach.
Town & Country has announced that Vanessa Sanmartin has joined the brokerage’s Bridgehampton office. The former Division 1-A tennis player is a graduate of St. John’s University and earned a Juris Doctorate from Hofstra University School of Law. An avid traveler, the multi-lingual agent speaks Spanish, Portuguese and French. She also teaches various graduate level business courses and is a certified spin instructor.