A Day With Marc Heskell of Saunders & Associates
Consistently a top-producing agent for Saunders & Associates, with sales exceeding $650 million, Marc Heskell has been serving clients across the East End for 16 years representing luxury properties for sellers, buyers, renters, and investors from Westhampton to Montauk.
His graduate work at NYU, which included an MBA in finance and advanced studies in architecture and design, along with working more than 15 years in investment banking at Morgan Stanley, have served him well as he uses his creativity, designer’s eye, financial acumen and negotiating skills to best serve his clients.
Additionally, his study of market trends, knowledge of Village codes and regulations and practice of truly listening to his clients’ objectives and doing everything possible to achieve them are a true testament to performance in a business that is predominantly referral.
Marc embraces the East End’s natural beauty, art, culture and activities, and supports the preservation of its wildlife and water ways.
What market shifts are you currently seeing here in the Hamptons?
The Hamptons are no longer a summer, seasonal market — it has transitioned into a full or part-full market, also known as Co-Primary. COVID was a catalyst for this shift. While some that escaped the city have transitioned back to their primary homes, there is a significant increase in the number of people/families that have moved here full-time or made the Hamptons their 6+ month a year home, clearly a lifestyle shift.
Your thoughts on the current Hamptons real estate market?
It continues to be a strong market. While there were less properties going into contract the last 30 – 60 days compared to the same period in 2021, there was an increase in the median sale price. Translation, volume is down year over year, but with such limited inventory (down as much as 50%, depending on the price point and location) there just aren’t enough homes for sale to maintain this unit sales volume. And, with strong buyer demand, sale prices continue to hold or go up.
Resale vs. New Construction — what are buyers looking for in the market?
First choice, NEW construction, and second, NEW construction. Given this preference along with the limited supply, increased cost of materials, and supply chain delays, buyers are willing to pay a premium for NEW. Buyers other preferred options are renovated, turn-key or some variation of move in ready; followed by potential projects that are livable today, with the plan to renovate in the next 1-3 years (hopefully after construction material costs normalize). Also, with limited options buyers have been more willing to consider building to get what they want, so land and teardowns have also been in high demand, for end users as well as builders looking for their next projectt.
Which is why now more than ever it is important to work with the right agent that has the experience and expertise to analyze, negotiate and conceptualize what a property is worth today and what it can become, to maximize value.
What is your perfect day in the Hamptons?
My love of the East End started over 30 years ago when I came out to visit a friend and I’ve loved it ever since, making it my fulltime home over 15 years ago.
Being lucky enough to live here, there are so many versions of the perfect day, but one of my favorites starts with a morning walk along side my four-legged best friend Shadow, our 5 year old Lab-Pit mix rescue from Gimme Shelter Animal Rescue, that became a very important member of the family. Then followed by spending time on the water, my feel-good place, whether boating, paddle boarding, kayaking, fishing, swimming or some combination. The day must include planning a lunch or dinner gathering with family and friends after being inspired by touring my favorite farm stands/markets for the best of what’s local that day. With my love of cars and motorcycles the tour will require taking out the ‘73 Porsche 911 or ’93 Harley. And cap off this wonderful day with a sunset walk on the beach with my family, wife Kat O’Neill (co-owner of The White Room Gallery in Bridgehampton), son Van and Shadow the wonder dog.
The Hamptons is a very special place, with its pristine beaches, beautiful water ways, walking/biking trails, wildlife, art, restaurants, diverse culture, endless sunsets and much more. I feel very lucky to live here and enjoy all it has to offer.
Marc Heskell, Licensed Associate RE Broker
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