Latest News: Realty Check

Realty Check

By Barbara Baker - November 16, 2020

By all measures, not only has 2020 been a strange year, it’s also been quite the anomaly when it comes to East End real estate. 

According to every data point that we’ve tracked, as residential and commercial real estate markets tanked in the city, ours just kept getting hotter and hotter. The demand continued through the third quarter, which smashed records for the number of total sales and median prices. Only time will tell if that rising demand will continue through the end of the year, or into 2021. 

Charming in the Country

Actress Kim Cattrall, most famously known for playing Samantha on “Sex in the City,” has listed her Gerard Drive, East Hampton property for $3.25 million. Listed with Rebekah C. Baker of Sotheby’s International Realty, the Gardiner’s Bay waterfront property comprises a quaint two-bedroom, two-and-a-half-bath cottage and small studio, with half bath, on .40 of an acre. Standout features at the gated mini compound include incredible three-exposure views, from Gardiner’s Island to Shelter Island and Montauk; a hot tub; outdoor shower; fire pit; lots of mahogany decking and an overhead movie projector with motorized large screen. Simple, yet sophisticated, the circa-1988 home offers real “getaway-from-it-all-without-a-lot-of-fuss” vibes. 

Par-fect

A golf lovers dream spot just became available on the ocean in Southampton. Located at 1080 and 1100 Meadow Lane,  the $90 million, 8-plus-acre property comes with 500 feet of frontage on the Atlantic and not one but two golf greens and golf houses, in addition to all the expected Hamptons amenities. Represented by Harald Grant and Bruce Grant of Sotheby’s International Realty, the massive three-lot trophy compound also comes with a 5,000-square-foot 14-bedroom, 14-full-and-five–half-bath home; tennis court and tennis house; pool and spa with pool house; two private walkways to the ocean; and unobstructed views across Shinnecock Bay. We’re guessing the house is a potential teardown, as there are no photos of it on the listing. 

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Wainscott, NY – 10/14/20 – For Brown Harris Stevens – 32 Westwood Rd. in Wainscott, NY October 14, 2020. (Photo by Gordon M. Grant)

Picture This

The colorful estate of late photographer Pete Turner, who was known for his vivid style, is back on the market, with a price increase. Originally asking $2.99 million, the 1.4-acre property at 32 Westwood Road in Wainscott is now priced at $3.87 million with a different brokerage. Listed with John Vitello and Gayle Osman Lopata of Brown Harris Stevens, the circa-1988 traditional shingle-style 5,830-square-foot home has three bedrooms, three-and-a-half baths (including one with brilliant red tile), two fireplaces, an impressive two-story studio space and a pool.  

Castle by the Sea

A magnificent Meadow Lane mansion in Southampton just hit the market this month for $52.5 million. Owned by Phyllis Pressman, wife of the late Barney’s New York Chairman, Fred Pressman, the chateau-style estate was designed by Beyer Blinder and Belle architects and boasts a stylish wood-shingled topper that’s reminiscent of a Medieval European thatched roof. Located at 346 Meadow Lane and represented by Tim Davis of The Corcoran Group, the nearly 6,000-square-foot oceanfront manse boasts 200 feet of pristine feet of frontage. According to the listing, it is in the “highly sought-after location on Meadow Lane away from public access yet convenient to the conveniences of Coopers Beach.” Built in 1982 and with interiors by French designer Andrée Putman, the stucco residence has seven bedrooms and six-full and two-half baths and sits on nearly 3 acres. Notable amenities include an ocean-facing pool and spa, tennis, guest studio, covered dining terrace and circular drive outside, and six fireplaces, a dramatic spiral staircase to the lower level and lots of curvilinear spaces inside. 

Bravo to Bay Street

In late October, Bay Street Theatre in Sag Harbor acquired a new home for the future. Located across the street from the current address for the theatre, which has rented its space on the Long Wharf since 1991, the new digs will be at 22 Long Island Avenue. The $13.9 million .67-acre mixed-use property, which was represented by Enzo Morabito and Adam Rothman of Douglas Elliman Real Estate, is Village Business-zoned and overlooks Sag Harbor Cove. The prime real estate, adjacent to the new waterfront John Steinbeck Park, is currently home to the 7-Eleven, Sing City and Water Street Wine & Spirits. Despite a recently enacted waterfront-building moratorium in the Village, Bay Street leaders say they hope to break ground in mid-2021, with an expected completion date in 2023. The new space will host “multiple theaters, including a main stage theater that will retain the well-known intimacy of the original venue, while offering additional fixed and flexible spaces to accommodate different configurations keyed to artistic vision and production needs.”

Ch-Ch-Changes

Sotheby’s International Realty welcomes back agent Catherine Decker, who initially joined the brokerage in 2007 in Montauk. Now located in the Bridgehampton office, Decker is an art lover and advocate with strong ties to the community. A member of the Ladies Village Improvement Society in East Hampton, the Children’s Museum of the East End and the South Fork History Museum out East and the Smithsonian and Cooper Hewitt Design Museum in the city, the longtime East End resident loves sharing her favorite spots out East with others. 

Town & Country Real Estate welcomes Mitchell Levy to its East Hampton office. The seasoned real estate broker and entrepreneur brings 35 years in commercial real estate and start-up tech. An East Hampton resident for the past 25 years, he brings a wealth of transactional and advisory knowledge. 

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