Realty Check

Hot Sales and Listings with A Dollop of Hamptons Gossip 

Happy spring, everyone! Nothing like spring in the Hamptons — the ospreys return, trees burst into bloom, baby animals everywhere, and the traffic starts building with every warm day. (Hey, we didn’t say it was all good!)

The Hamptons real estate market is beginning to flower as well. For the first time in three years, sales inventory has increased; in February, 51% more new listings compared to last year. Perfect timing for both buyers and sellers. If you want to list your property, this is a great time, with prices still high and the economy still strong. There are buyers out there who will want your home.

If you’re a buyer, you will finally have a bit more choice in available real estate. Of course, many other people are also interested (properties in contract in February also increased, by 44%), so when you see something you like, be ready to pounce immediately and hopefully you’ll be in while there’s still some summer left.

Inventory is still much reduced from pre-pandemic years. Those buyers who expected a drop in prices have been disappointed, as prices have slightly increased rather than dropped. If interest rates drop, there will be yet more buyers, and of course, higher prices. Yes, it’s true, all-cash offers make up a sizeable chunk of the market, but it’s still below 50 percent for high-end properties.

Bigger Is Better 
Looking for a resort like hideaway? Who isn’t? Got a spare $18 million? Um….maybe? Then we’ve got a place for you in North Haven! Or, rather, Susan Harrison at Compass has.

Located at 26 On the Bluff, the house has fantastic water views. Mooring rights and a floating dock to access your yacht are included, of course, along with a staircase down to the beach. With 1.84 acres of land, there’s plenty of room for a huge pool with a waterfall spa and an entertainment area with an outdoor fireplace. 

Inside the 10,000 square feet house, it’s impossible to be bored, with amenities such as indoor basketball court, an exercise studio with a steam room, and a concealed room accessible through a door camouflaged within a bookcase. The game room offers a bar with seating for six, as well as a stone fireplace, expansive seating and a billiard table. 

There are six bedrooms, six bathrooms and two half baths. The primary suite pampers owners with a private terrace, a luxurious bathroom, and a giant custom closet.

Sag Harbor Jewel Box  
One of the pleasures of Sag Harbor is the enchanting old houses that remain treasured by their owners. One such is 212 Madison, built during the whaling days in 1820 and loved and preserved by NYC-based photographer Pat Field. (Not the costume designer.) Field owned the house from the 1970s to just about a year ago. It’s listed by Sally Gillies of Sotheby’s International Realty asking $2.895 million.

A special house like this deserves a special owner. Listed on the National Registry of Historic Places, the house’s period details, and old charm can be found throughout its petite 1,500 square feet. Four working fireplaces, leaded glass windows, exposed beams with 200-year-old carpenters’ marks visible, and most of all, the extraordinarily wide pine floorboards, one spanning 31 inches. 

Currently a three bedroom with two baths, the sale includes plans for another 600 square feet of space, which have already been approved by the Sag Harbor Village Architectural Review and Zoning Boards. The plans add an en-suite to the primary bedroom as well as wine cellar and a second set of stairs. Outside, on the small, low maintenance 0.1 acre plot, are lawns and flower beds. 

Flying Point Under $5 Million? Yes, Please! 
Back in the day (2014), this small house at 1025 Flying Point Road, which seems surrounded by water, was listed as a new build asking $5.6 million. Hilarity ensued. The property, which is just 0.6 of an acre with a 1,400 square foot house perched on stilts, eventually sold in 2015 for a much more reasonable $3.755 million. Hey, it is on Mecox Bay, just a short walk from Flying Point Beach and the ocean.

Ten years later, the house is once again listed for sale, asking $4.595 million. Ritchey Howe and Holly Hodder of Sotheby’s International Realty have the listing. While the house, with just three bedrooms and 2.5 bathrooms, is fairly modest, the location is key here; it’s surrounded by $20 million properties. That said, the two-story is charming and low maintenance, perfect for new Hamptons buyers or those looking to downsize. There is one large room comprising kitchen, dining, and living. There’s also a spacious deck perfect for whiling away lazy summer afternoons drinking lemonade. 

Location, as before, can’t be beat. It’s just a short hop to Montauk Highway and the shops and restaurants of Water Mill or a slightly longer hop to Southampton Village. Advice: load up your stand up paddleboard, beach chairs, and umbrellas immediately.

Big Night at the Ellies
Big congratulations to Hamptons and North Fork agents who won some pretty prestigious awards via the Ellies, Douglas Elliman’s way of recognizing their superstars. First up is Michaela Keszler, who was ranked number one in the Hamptons by GCI (gross commission income) and sales volume;  Kristy Naddell in Cutchogue was ranked the top individual by transactions on the North Fork, while The Atlantic Team (Justin Agnello, Hara Kang and James Keogh) was named the number one team in the Hamptons by GCI and sales transactions, as well as the region’s top rental team. The Enzo Morabito Team scored number one locally in sales volume and number 12 medium team nationally. The Eklund Gomes Team ranked number one mega-team nationally. 

“Congratulations to our Hamptons and North Fork agents on a truly outstanding year. It is due to their hard work and unwavering dedication that we soared to new heights in 2023, ranking as the #1 brokerage in the region,” said Todd Bourgard, CEO of Brokerage, Long Island, Hamptons and North Fork Regions of Douglas Elliman Real Estate. 

TOP Rentals
Yes, it’s time for the annual “they’re asking whaaaat?” report about a Hamptons rental. Mylestone, on Meadow Lane, was top of the rental ask for several years, but as you surely recall, it sold last year. 

This year’s model is a 42-acre spread on Scuttlehole Road in Water Mill, complete with an 18,000-square-foot mansion built by Jeffrey Collé. Ask for Memorial Day-Labor Day is a hefty $1.2 million. July-LD is a mere million, while year-round is a cool $1.7 million. Susan Breitenbach of The Corcoran Group has the listing.

So what do you get for your $1.2 million, besides bragging rights and an unforgettable party pad? Seven bedrooms and seven and a half baths, all done in a French chateau style. Naturally. Because that’s what’s appropriate for the Hamptons. 

Of course, the kitchen is fully tricked out with luxuries such as a La Cornue range, double dishwashers and double Sub-Zeros. Adding to the chateau feel are enormous stone fireplaces and rustic details. There’s also a screened-in porch, a formal dining room, and a luxurious primary suite that offers a private sitting area, an antique fireplace, and a marble bath. The fully finished lower level offers 10’ ceilings.

Outside, a huge pool and pool house, and a sunken tennis court. The horsey type? Stable your nags in style in the six-stall barn.

Ch-Ch-Changes 
Rachel Mulvey — a third-generation Westhampton Beach native blending insider knowledge with style — has joined The Corcoran Group. Formerly a distinguished mortgage loan officer, she now excels in real estate, driven by a passion for guiding clients with precision. With her tenacity, Rachael ensures seamless experiences for all. Despite a stint in Denver, CO, Westhampton Beach remains her forever home. Currently crafting two homes on her property, she’s committed to the community. Beyond real estate, Rachael enjoys beach outings, cooking, fashion, yoga, and art. Elevate your journey with Rachael Mulvey — where sophistication meets success.