Archive for the 'East Hampton' Category

First Offering: Ammon Estate, East Hampton, NY

Thursday, June 8th, 2017

59 Middle Lane, Ammon estate

The 59 Middle Lane East Hampton home, owned by siblings Greg and Alexa Ammon, is up for sale for $12.7 million with Judi Desiderio of Town & Country Real Estate.

“Having been the broker for the Ammon family for nearly 15 years, we have rented the home to several families with children, all of whom have throughly enjoyed the beautiful home and outstanding sprawling grounds, for some two years running," said Desiderio. "A few tenants were interested in purchasing the property but the family wasn't ready to let it go."

"Alexa and I are now ready to sell our childhood home as we are both moving forward with exciting new ventures," said Greg Ammon. "We truly hope our family home finds the right buyer who can enjoy the many happy memories we had here and appreciate the true beauty that it has to offer."

Inspired by these memories, Greg founded Big Flower, a Hamptons lifestyle brand with a flagship in East Hampton and expansion plans in the fall. Alexa recently graduated from USC School of Cinematic Arts and is currently pursuing a career in film and photography.

The family's decision to sell presents a very rare opportunity to own the famed East Hampton estate. With Katie Couric around the corner and Jerry Seinfeld a stone's throw away, the new owners will be in fabulous company.

Barney Rosset Estate in East Hampton Sells for $5.5 Million

Thursday, March 2nd, 2017

400 Hands Creek, East Hampton - Front Facade

An East Hampton property once owned by Barney Rosset, who published works by Henry Miller and Samuel Beckett that were considered scandalous, was on the market for $6.495 million and just sold to a Hollywood actor who asked to remain anonymous for $5.5 million.

A memoir, titled “Rosset: My Life in Publishing and How I Fought Censorship,” was published last summer by OR Books. Rosset was known as a crusader against censorship in the 1960s, publishing controversial books including D.H. Lawrence’s “Lady Chatterley’s Lover,” Henry Miller’s “Tropic of Cancer” and “The Autobiography of Malcolm X” through his company, Grove Street Press. 
 
400 Hands Creek, East Hampton - Swimming Pool
 
Rosset, who died in 2012 at age 89, lived on the 13.5-acre property for about 10 years until 1993, when he sold it to the current owner, says listing agent Bill Stoecker of Town & Country Real Estate. Over seven years, the current owner salvaged and renovated a barn on the property, which is now the double-height living room for the four-bedroom home, Stoecker says. He added another 4,000 square feet of living space to the shingle-style home, which has four fireplaces, a wine cellar, and a rooftop hot tub. The property, which sits adjacent to 10 acres of town-owned reserve land, has a swimming pool, pool house, tennis court and separate garage, and is surrounded by gardens.
 
For more details about the property or the sale CLICK HERE or contact listing agent William Stoecker at BStoecker@TownAndCountryHamptons.com.
 
400 Hands Creek, East Hampton - Living Room

TOWN & COUNTRY HAMPTONS 3RD QUARTER 2016 HOME SALES REPORT

Thursday, October 20th, 2016

2016 3rd Quarter Home Sales in the Hamptons was, well frankly… all over the place.

This year to year statistical comparison shows definite signs of growth.

East Hampton Village set a new high watermark for Median Home Sales Price at $5.25M. All 8 home sales during these months were over $2M — “very impressive Median Home Sales Price, possibly a national statistic”, states Judi Desiderio, Chief Executive Officer.

Hot Montauk, more than doubled the amount of home sales from 8 in 2015 to 17 in 2016. Furthermore, the Total Home Sales Volume tripled year over year with a 198% leap to nearly $28M from $9M.

The Bridgehampton market (which includes WaterMill and Sagaponack) remained the top earner with $125M trading hands during July, August and September of this year. The Median Home Sales Price was a solid $3.9M, a 42% jump from last year’s $2.75M.

All Hamptons Markets Combined showed a respectable increase of 5% in the Number of Home Sales and a rise of 8.5% in Total Home Sales Volume, yet the Median Home Sales Price dropped 13% to only $850,000.

Looking back at our last bull market of 2014 and clearly you see the pull back since then when 410 homes close, with $760 million trading hands.

To view all reports visit TownAndCountryHamptons.com/Reports.

NEW HOME SALES IN THE U.S. HIT 9 YEAR HIGH

Wednesday, August 24th, 2016

Newly built single family residences across the country jumped 12.4% according to the just released U.S. New Home Sales Report. July 2016 was the best month-to-month increase since October 2007. Year-to-year the July increase was a whopping 31.3%! This puts new home sales levels back to levels equivalent with levels prior to the Great Recession, but below all-time highs reached in 2005.

According to the US Commerce Department, the seasonally adjusted annual rate of 654,000 newly built homes traded hands. In fact, the total amount of new homes sold in the U.S. for the first half of 2016 was up over 12% compared to the same period in 2015. Economists believe historically low interest rates and strong job markets are the main contributing factors.

Additionally, many young home buyers have been sitting on the sidelines for several years and are just now beginning to realize the importance of homeownership.

New homes create jobs. Not only by the construction of the home but there are jobs created with ancillary services such as landscaping, decorating, etc.  All of these jobs markets see significant increases when home sales increase.

Finally, the National Association of Realtors collaborated on the strengthening home sale markets with June’s report on previously owned homes, which hit a 10 year high. Real estate has been the beacon! 

TOWN & COUNTRY Hamptons 2nd Quarter 2016 HOME SALES REPORT

Tuesday, July 19th, 2016

 

The numbers are in… raising eyebrows mind you! 

The second three months of 2016 proved challenging for many of the 12 individual markets monitored by TOWN & COUNTRY.  All three criteria in the analysis showed significant drops: The Number of Home Sales dropped in eight of the 12 hamlets and the Total Homes Sales Volume and Median Home Sales Price both realized declines in nine of the 12 locales.

Southampton Village and East Hampton Village, two prime crown jewels of Hamptons Real Estate, both suffered significant declines in all three criteria. In fact, East Hampton Village’s drop of 53% in Total Homes Sales Volume ($95M to $45M year to year) was the greatest of all markets, with Southampton Village not far behind dropping 48% from $86M to $45M.

Reviewing last year’s TOWN & COUNTRY’S 2nd Quarter Home Sales Report, you will notice 2015 experienced a similar set of declines when compared to 2014. Hopefully, this is not a trend!

Thankfully, the report was not all doom and gloom. Sag Harbor Area (which includes Noyack and North Haven) posted the highest gains in the Number of Home Sales at a 100% leap from 17 in 2015 to 34 in 2016. Further, the Total Homes Sales Volume rose from $23.5M to $58M.

Sag Harbor Village and Shelter Island both showed strong growth in the Number of Home Sales, Total Homes Sales Volume and Median Home Sales Price. Is there a shift in focus to the quaint boutique markets from the estate sections, or is it a function of price?

The darling hamlet of Amagansett experienced an unexpected pull back in activity with 35% fewer homes trading hands — this certainly is not due to a lack of interest, but rather a price sensitivity with Median Home Sales Prices nearing $2M inclusive of both north and south of the highway.

View All Hamptons Markets Combined and you will see plenty of red. In fact only one of the eight price ranges monitored by TOWN & COUNTRY saw gains — an anemic 5% increase in the Number of Home Sales, $500,000 – $999,000 the most popular price category.

“While the 2nd Quarter Home Sales Report proved what I have said about the $10M and up price categories being hit the hardest, I do anticipate the next three months will see a seasonal uptick on the high end. Though, it is the stock market trajectory that dictates Hamptons high end sales. Just another cycle.” states Judi A. Desiderio, President.

To view the full report visit 2nd Quarter Home Sales Report. For all Town & Country Real Estate Market Reports, click here.

 

Truck Beach

Wednesday, June 22nd, 2016

I would like to weigh in on the issue of “truck beach”—a real hot potato… or should I say hot sand. I am stupefied by the town’s decision to fight this for 7 years and vow to continue the fight should the judge not rule in their favor. While I see both sides of this issue, I clearly see a resolution that will not cost the town a dime AND allow for only fishermen pulling in nets to continue as the town claims has happened for many years.

Nearly 30 years ago I sold both properties at the end of Mitchell Dunes Lane… the oceanfront properties. At that time there truly was only the occasional dawn or dusk fisherman casting his or her line in… frankly I never saw a fisherman hauling in his nets as the town describes.

One of those purchasers has become a lifelong dear friend of mine and my family… so I have spent many days at that beach. The current use of the shoreline is not even remotely close to what East Hampton Town describes as its allowable use and hasn’t been for many years. 

Did you know it is the ONLY ‘drive on’ beach that is not on public lands?  Did you also know that just to the east is NY State Parkland? That is THE ANSWER! If truck beach were relocated to this state land there is NO ISSUE! Private property owner rights are then not in question. The town claims this is a title issue. The lawsuit that has cost tax payers TENS OF THOUSANDS OF DOLLARS will cease instantly. Local residents who enjoy driving on the beach and parking there for the day will continue to enjoy the activity… Just a few feet to the East! A WIN WIN situation for EVERYONE! Property owners, tax payers, and beach driving enthusiasts!

Town residents who wish to drive on the beach will need to get a NY State pass to drive and park there and may even need a NYS fishing license , but remember that WAS the original allowable use as described by East Hampton Town. It has been asked – why not allow driving on every town beach  – this would dilute the impact on this beach. Or impose the same hours of use as on other town beaches.  Let’s also consider the impact on the environment… the precious dunes with its important vegetation, the piping plovers and other wildlife.

We can open Pandora’s Box and discuss the importance of comfort stations – which there currently are none. On the state land this could all be cured with cooperation. If a resolution is the true object, the answer is right in front of everyone’s eyes. I am befuddled at why this simple and comprehensive resolution has not simply been done.

The existing tact is a waste of time, energy and money… let’s get smart… PLEASE!  

Fighting Chance Annual Summer Gala

Tuesday, June 7th, 2016

Fighting Chance, East End’s Cancer Support Organization had its 14th Annual Summer Gala On Saturday, June 4, 2016 at the Maidstone Club in East Hampton Village. The reception was a celebration for the care and support given to our local communities. Congratulations to honorees, Robert S. Chaloner, President and CEO of Southampton Hospital and Yusuf A. Hannun, MD, Director at Stony Brook University Cancer Center both this year’s recipients of the Medal of Honor… And a special thanks to Duncan Darrow, Founder & Chairman for founding this much needed organization. Judi Desiderio, Chief Executive Officer of Town & Country proudly serves on the Board of Directors. The location, the food and all the guests made this event such a success! Thank you to all who support Fighting Chance.

  

Photo Credit: Charlie Grubb 

Town & Country Real Estate Opens New East Hampton Office

Thursday, May 12th, 2016

Town & Country Real Estate Nancy McGann, Gene Stilwell, Judi Desiderio, Janet Hummel at the East Hampton office opening

Town & Country Real Estate Nancy McGann, Gene Stilwell, Judi Desiderio, Janet Hummel at the East Hampton office opening.

"Town & Country's grand opening of our new East Hampton office was a grand success…a good time was had by all," says Judi Desiderio, Town & Country Real Estate founder and CEO.  East Hampton office manager and veteran real estate agent Gene Stilwell wholeheartedly agreed adding, "The champagne was flowing and all had a good time! How nice to share a little time with friends and colleagues toasting our new digs."

The new office, located at 46 Main Street, East Hampton, a few doors up for the former space has high ceilings, a wide expanse of windows showcasing the most spectacular examples of Hamptons real estate, cozy gas fireplace, and plenty of room for all of our East Hampton agents.  The chic aesthetic is accented by design elements including a chrome and wood light fixture in the formal lobby that perfectly matches the hardwood floor. 

The grand opening celebration was held Friday, May 6, 2016, to kick off the summer season and over 100 well-wishers came out to raise a glass of Sparkling Point champagne – imported from the North Fork hamlet of Southold, and nibble tasty bites from Cavaniola's Gourmet Cheese Shop in Sag Harbor.  Town & Country Real Estate's founder and CEO Judi Desiderio, managing partners Nancy McGann and Janet Hummel, and the agents in the East Hampton office including William Stoecker, Rick Slater, Kim Slater, Richard Swift, and Hal Zwick, to name a few were in the mix.

"Thanks to all who attended," says Gene. "What a fun night!"

Town & Country Real Estate agents Hal Zwick and Gary Reisman with managing partner Nancy McGann   Town & Country Real Estate agents Leon Day, Rick Slater, Kim Slater, and Gina Decker  

Town & Country Real Estate agent William Stoecker and wife Paige Stoecker   Town & Country Real Estate CEO Judi Desiderio and East Hampton office manager Gene Stilwell

Town & Country Real Estate Director of Digital Media Nicole B. Brewer, real estate agent Kim Slater, and Director of Acquisitions GIna Decker   

Town & Country Real Estate managing partner Janet Hummell with Jim Miller of Hamptons Real Estate Showcase   Town & Country Real Estate Director of Technology Chris DiPetta and guest

Town & Country Real Estate agents Marguerite Davidowicz and Kim Slater   Town & Country Real Estate

Town & Country Real Estate East Hampton Office

 

 

    

    

TOWN & COUNTRY HAMPTONS 1ST QUARTER 2016 HOME SALES REPORT

Wednesday, April 20th, 2016

The best part about the numbers is they tell it like it is — no individuality, no over inflation, no emotions… strictly the FACTS.

The fact is, the Hamptons 1st Quarter Home Sales Report reflects, frankly, a mixed bag.

In general, the report on the first three months home sales activity shows 10 of the 12 of the individual markets monitored by TOWN & COUNTRY had fewer transfers. East Hampton Village saw a drop of 44% and Bridgehampton (which includes Water Mill and Sagaponack) saw a 39% drop in Number of Home Sales—  these are significant statistical changes.

Bridgehampton (which includes Water Mill and Sagaponack) had quite a pull back, with not only 39% less Home Sales, but 42% less Total Homes Sales Volume, and the final criteria we monitor, Median Home Sales Price, slightly lower by 3%. The $10-$19.99M price range was off by 67% in Bridgehampton (which includes Water Mill and Sagaponack).

On a positive note, Shelter Island spread its wings nicely with a whopping 70% jump in Number of Home Sales, 59% increase in Total Homes Sales Volume and nearly 10% rise in Median Home Sales Price. A shining quarter for the Island.

East Hampton Village statistics deserve close examination. Not only the slide of 44% fewer Number of Home Sales but RED in every price range … except the over $20M, where the 2 sales for the first 3 months were: 101 Lily Pond Lane at $63.8M and 93 Lily Pond Lane for $22M. SAB Capital owner Scott Bommers sold his 3 Lily Pond Lane holdings for a total of $110M — an off-market deal.

Looking at All Hamptons Markets Combined and you see that from a broadstroke the East End Real Estate market held strong, while the stock market was in a bit of a free fall followed by a bounce. The Median Home Sales Price increased a respectable 3.65% to $995,000 while the Numer of Home Sales declined by 10%. 

Thank goodness it’s Spring!

To view the full report visit TownAndCountryHamptons.com/Reports.

 

TOWN & COUNTRY HAMPTONS 6 YEAR HISTORY HOME SALES REPORT

Tuesday, February 16th, 2016

In 2005 TOWN & COUNTRY published the first of a series of multiple year Home Sales Reports.

In the last report of 2010, we witnessed the best and the worst of sales activity. 2009 saw only 1,094 homes closed title, the least since I have been reporting on market activity. Conversely, 2005 hit the high watermark with 2,544 home sales. Total Home Sales Volume, which is driven directly by the high end, had its best performance in 2007 with over $3.8 billion changing hands. That was then, this is now.

Fast forward to this 6 year study, and clearly 2005 remains the high water mark for the Number of Home Sales. The Total Home Sales Volume ran a 7 year cycle with 2014 closing nearly $4.7 billion, while 2007 saw just over $3.8 billion sold.

One notable, and interesting statistic, is that for the past 10 years the Median Home Sales Price bounced around the +/- $900,000 range with a low of $849,500 in 2005 and a high of $999,000 in 2007, followed closely by 2015 at $997,500. This statistic is much lower than market examples in many locations.

Evaluating the 12 individual markets monitored by TOWN & COUNTRY and you will see that these individual markets move independently in many ways, yet yield a definitive trend reflective of the health and stability of the overall economy, but mostly the equity markets.

To view the full report visit TownAndCountryHamptons.com/Reports.