Realty Check

Hot Sales and Listings with a Dollop of Hamptons Gossip 

Welcome to the best part of summer, everyone! But it’s not just the sun that’s scorching out here — no, we’re not talking about residential real estate. (Although the highest-priced listing in the Hamptons is now “priced to sell,” of which more later.) Retail rates have gone sky-high! 

Ladies and Gentlemen, Rev Your Black Cards!   
Back in April, Bernard Arnault, chairman and chief executive officer of LVMH Moet Hennessy Louis Vuitton SE, purchased One Main Street, East Hampton, for $22 million. (Somewhere, the “Above the Potatoes” proprietors are laughing.) That was pocket change for who was then the world’s richest man (though Elon Musk has overtaken him at time of writing). At $4,400 per square foot, the rate exceeds the averages for retail space in prime areas of Hong Kong, Milan, London, Paris, Tokyo and even Upper Fifth Avenue. The space is now Louis Vuitton.

Other high-end shops that have recently opened in East Hampton include Chanel, Valentino, and Prada. The high-end MyTheresa site opened its first bricks-and-mortar shop June 29 as a summer pop-up. Marina St Barth and Diptyque are also newcomers; while we can recommend a Diptyque candle as a prime hostess gift, be careful. Naming no names, we once found our host using the $75 candle we gave him lighting a lantern by the pool. Safe to say, East Hampton is no longer the place where this writer could spend her 25¢ allowance, as in the 1970s.

Let’s Party
Michael Rubin’s famous annual white party took place over the July 4th holiday at his Bridgehampton oceanfront home, which was packed full with 350 of his closest and most famous friends and guests. Rubin, 50, CEO of Fanatics and former co-owner of the 76ers, entertained the stars and athletes until the wee hours. Some of those present included East Hampton’s Jay-Z and Beyoncé, Kevin Hart, Water Mill’s Jennifer Lopez and Ben Affleck and Kevin Durant.  

Robert Kraft of the New England Patriots, who has his own oceanfront place in Southampton was reunited with his former start quarterback, Tom Brady. Also in attendance were Leonardo DiCaprio, DJ Khaled, Usher, reality stars Kim Kardashian and Kendall Jenner, Jack Harlow and Justin and Hailey Bieber.

Rubin bought the modern Bridgehampton oceanfront manse in an off-market deal for $50.15 million back in 2020.

Calling All Hoteliers!
Also in commercial real estate news, Montauk’s centrally located Sands Motel has been listed for $28 million by Hal Zwick and Jeff Sztorc at Compass Commercial. The 19,000-square-foot hostelry is located across the street from the ocean beach, offering both ocean views and Fort Pond views. Of course, there is a pool on its 1.6 acres. 

The motel was built by the Hausman family in 1951; son Richard ran the motel until his death last year. (The complex is currently closed.) Three buildings comprise one- and two-bedroom units, each with one bathroom and a balcony or deck. Fourteen are efficiencies. There’s also a two-bedroom cottage for the owner.

Over to Quogue
A historic oceanfront estate on 2.6 acres in Quogue has not been on the market in more than 50 years. It was built in 1910 as part of the Kennedune compound, a set of houses including a boathouse and a very large saltwater pool, by a family called Kennedy. Now, the property on Dune Road is for sale asking $13.75 million via Lillian A. Holtzclaw of Brown Harris Stevens. There’s 275 feet of ocean frontage, a tennis court, a gunite pool, outdoor kitchen, vegetable garden, a bocce court and a wisteria-clad pergola and a grandfathered dune deck. The 4,000 square foot house includes six bedrooms, six bathrooms, and two powder rooms.

Built in the English/French country mashup style popular at the time, the house retains many elegant period features: fireplaces, millwork, mature gardens. The kitchen is ready for weekends with lots of guests, including two dishwashers, two sinks and a wine fridge. There’s a private duckwalk to the beach, and, perhaps nicest of all, the dune deck, which cannot be built new, but is perfect for relaxing while listening to the roaring surf.

Up on the NoFo
One of the most expensive houses for sale on the North Fork is a spectacular bayfront estate in Mattituck. Set on over 1.5 acres, with 132 feet of sugar sand beach, and endless, incredible views. An eat-in-kitchen that overlooks a pool, pool house, and private beach. Outside you have a driving range and putting green, an outdoor shower, beach and Bay access from your backyard, and a whole house generator. Seconds from Strong’s Marina and near all that the North Fork has to offer. If you’re looking for an alternative to the Hamptons on the quieter Fork, you can’t beat this one! Asking $5,750,000. Listed with Sheri Winter Parker of The Corcoran Group.