Archive for the 'East Hampton' Category

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.

HAMPTONS TOP 10 MOST EXPENSIVE SALES OF 2015

Tuesday, February 16th, 2016

2015 closed out the year with a solid performance on the high end. But, 2014 remains THE BEST YEAR for high end real estate sales — shattering all prior ceilings with Barry Rosenstein’s purchase of Andrew Gordon’s estate from his partner, Chris Browne at $147M. The combination of 62 Further Lane, East Hampton at a total price of $97M plus 2 contiguous lots totaling $50M yields the $147M dollar total. That record sale unseated the prior high water mark set in 2007 when Ron Baron bought the deMenil Carpenter property also on Further Lane in East Hampton at $103M.

So while the 2015 top slots don’t come close to those record sales, the 10th spot was held at a respective $23M for 377 Jobs Lane in Bridgehampton.

In keeping with past Top 10 Most Expensive Sales reported by TOWN & COUNTRY, 9 of the 10 sales were waterfront with 7 of the 9 being oceanfront. The hamlet count was fairly consistent with Southampton logging in the most at 4, Bridgehampton with 2, East Hampton with 2, and Montauk with 1.

East Hampton once again takes the crown with 226 Further Lane at $57.3 M.

To view all Top 10 Most Expensive Sales visit TownAndCountryHamptons.com/Reports.

TOWN & COUNTRY HAMPTONS YEAR END 2015 HOME SALES REPORT

Thursday, January 21st, 2016

It’s as though the year was divided into 2 completely different experiences.

2015 started out with a BANG — the high end enjoyed a wickedly cool ride, the best it has had since 2007 — then came the summertime swoon and the 1000 point intraday stock market drop. Suddenly, it was as though the Big Boys (and Girls) in the over $20M price range packed up and went home. Fortunately, most of the other price ranges remained relatively engaged.

8 of the 12 individual markets monitored by TOWN & COUNTRY experienced declines in the Number of Homes Sales, as well as Total Home Sales Volume, but only 3 posted a lower Median Home Sales Price.

Bridgehampton (which includes Water Mill and Sagaponack) closed over $1B in Home Sales in 2015 — now that’s impressive!

Amagansett apparently suffered the worst statistically, with a drop of 21% in the Number of Homes Sales and a decline of 28% in Total Home Sales Volume but keep in mind this is a small hamlet so 22 less houses sold in 2015 from 2014 created a significant statistical change.

Median Home Sales Price in the East Hampton Village shot up a whooping 52% from $2.5M in 2014 to $3.8M in 2015. Examining closely the 8 specific price ranges and the reason is clearly found in the $5 – $9.9M range where twice as many homes sold year over year in East Hampton Village.

Looking toward All Hamptons Markets Combined and you can see Home Sales activity for 2015 in the Hamptons dropped just slightly from 2014, with 5% less homes trading, resulting in a 6.8% lower Total Home Sales Volume.

The Median Home Sales Price posted for the year rose slightly from $975,000 to $997,000, or 2.25%.

Click HERE for full report & statistics…

2016 Summer Rental Season

Friday, January 8th, 2016

This year the Hamptons Hot Summer Season should sizzle! We expect more homeowners than ever before, most will enjoy their new acquisition others will choose to rent. Those who choose to rent need to check with their respective municipality for laws, permits, registry instructions and other details. Most of the East End communities have specific laws pertaining to rentals. There have been laws such as ‘group laws’ in place for many years, Such as “no more than 4 unrelated persons allowed in a SFR in East Hampton—5 in Southampton”. And of course, any SFR (single family residence) mandates just that, one family not multiple families in the home.

East Hampton Town has launched a HOT POTATO this year with the adoption of a Rental Registry Law. After considerable debate – mostly objections—the law was passed. Clearly, all residents wish to maintain the quality of life that we hold so dear.

Furthermore, existing laws such as the group laws seemed to address many of the concerns. The catalyst seemed to be the sudden and instant influx of short term rentals… or simply excessive use of residences.

Homeowners, for the most part, are not using their homes like hotels but admittedly, there is evidence of abuse.  Many resort towns are experiencing similar tenant activity. Some have attributed this to online rental sites, some the economy.

In the Hamptons, the lack of hotels and short term rentals contribute to the problem. Just as UBER has forever changed rides around the world, so has VRBO & HomeAway changed how tenants experience vacation rentals. The problem, for lack of a better term, is larger than us.

Worthy of a full discussion… Weigh in your thoughts.

NEW EAST HAMPTON TOWN RENTAL REGISTRY LAW

Thursday, December 17th, 2015

Dear Associates and Homeowners,

We at Town & Country are committed to being your Real Estate Resource. To that end, we hereby inform you of the latest law for rentals of homes and apartments. 

Attached you will find EHT Resolution RES-2015-1337. This is the adopted RENTAL REGISTRY LAW. Any owner who rents out their home is obliged to comply. YOUR ACTION IS REQUIRED.

While there was much pushback and concern over implementation, privacy, legality, and much more, the town decided to move forward. It is our opinion that the law needed to be fully baked prior to adoption and that its current form requires more discussion, planning and modification, but the horse is out of the barn and now the EH Building Department and Code Enforcement will bear the brunt of inadequate planning and execution.

Town & Country Associates are always available to assist our clientele in the navigation of residential and commercial sales & leasing. Feel free to call or stop by one of our 8 offices or if you own a rental property in East Hampton, a visit to Town Hall is your next stop.

Wishing you all a healthy and enjoyable 2016!

Gracious Thanksgiving: Top 4 Hamptons & North Fork Kitchens

Wednesday, November 25th, 2015

Southampton Kitchen

Thanksgiving is truly a special day that kicks off the holiday entertaining season. It is a time to celebrate family and friends while focusing on being thankful and generous to others. Nothing says Thanksgiving more than friends and family gathered around a decadent table laden with roasted turkey, savory stuffing, cranberry sauce, and of course, pumpkin pie. Those familiar with hosting a holiday dinner know that there is a great deal preparation to prepare for a lavish meal. A key ingredient for successful holiday entertaining is a well-planned kitchen.  Just like in real estate, location is everything be it a house on the water or the Viking range and Sub Zero refrigerator.  These are some of our favorite spots to whip up something delicious and toast the season here in the Hamptons and across the North Fork of Long Island.

East Hampton KitchenIn Southampton this stately home has that understated elegance you’d expect in the Hamptons.  Located close to both the town and beach, this home is ideal for stylish entertaining. The gracious open kitchen is adorned with the world's finest appliances from Sub-Zero and Miele.  The adjoining breakfast room is surrounded by floor-to-ceiling sliding French doors that let in the light just perfectly.  For details contact Robert Tomich, Town & Country Real Estate, Southampton Office, 631-283-5800, IN#36553.

The natural light and white cabinets are chic and sophisticated in this East Hampton kitchen. State of the art stainless steel appliances and a double refrigerator that can hold everything you need for a large holiday dinner are why it is a stand out. The center island is a perfect spot for entertaining while cooking up a scrumptious meal. A key ingredient in any great kitchen is having enough work space and ample storage, this kitchen has it all and more.  For details contact Pamela Walsh, Town & Country Real Estate, Bridgehampton, 631-537-3200, IN#16713.

Quiogue KitchenThis quaint eat-in-kitchen in Quiogue uses its space wisely. A bookcase located on the end of the counter top is perfect for quick access to those favorite holiday recipes and cookbooks. Plenty of cabinets below the counter hide pots and pans while glass cabinets showcase favorite items and create an open feel.  This room flows gracefully in a circular shape with two sinks and extended stovetop, the possibilities are endless. The crown molding and cabinetry in this French Country kitchen lend elegant detailing.   For details contact Christine M. Byrne, Town & Country Real Estate, Westhampton, 631-288-3030, IN#35922.

Who doesn’t love a new kitchen? 

East Hampton Kitchen We found a perfect spot to prep and entertain in this new construction in East Hampton.  The eat-in gourmet kitchen with top-of-the-line Wolf range has a large center island ideal for hosting a holiday.  Bring up a few bottles from the wine cellar and transform the island into a chic bar for cocktails.  Two fireplaces and 5 bedrooms, as well as a finished lower level, mean there is room for quite the gathering.  For details contact Tracy Annacone, Town & Country Real Estate, East Hampton Office, 631-324-8080, IN#50443

When the cook is happy that same love and gratitude is reflected in the food and the mood and that truly what Thanksgiving is about. We appreciate these gorgeous kitchens that are overflowing with charm and chic style.  From everyone at Town & Country Real Estate we wish you and yours a very Happy Thanksgiving.

East Hampton Open House & Anne Raymond Art Opening

Thursday, November 19th, 2015

East Hampton, Rolling Woods Lane, Swimming Pool and Exterior

Art, wine, and real estate are three pillars of the Hamptons culture.  Join us this Saturday, November 21st from 2:00 p.m. to 5:00 p.m., as Town & Country Real Estate presents a very special, exclusive open house in the North West Harbor area of East Hampton at the home and studio of artist Anne Raymond.

East Hampton, Rolling Woods Lane, Formal Living RoomThe unique event will showcase the works of Raymond, whose work resides the in the permanent collections of the Museum of Fine Arts in Boston to the Blanton Museum of Art in Austin, Texas to name but a few.  Best known for her vibrant oil works that reflect the exquisiteness of the world as she sees it this very private showing will leave plenty of room for interpretation.  Viewed in the artists’ home this is a rare opportunity to get close to the art and the artist.

“I have great studios in SoHo, Tribeca, and Chelsea and none have influenced me as an artist more powerfully than my East Hampton Studio,” says Raymond.  During this special open house not only will guests be treated to the paintings and ambiance of this influential home but those on the tour can truly gain some insight as to what inspired her during the artistic process. Much like Raymond’s oil paintings, this home is a sight to behold. With its illuminating natural light and unique structuring throughout; this home is a work of art on its own. Treat yourself and be inspired by this sensational experience.    

East Hampton, Rolling Woods Lane, Artist StudioThis open house and studio tour is hosted by Town & Country Real Estate agent Stacey Barnds, of our East Hampton office, who describes the property as a “modern masterpiece that will appeal to the inner artist and architect in you.”  The two-story 4,400 sq. ft. residence situated on 1.9 acres is located in a lovely cul-de-sac between East Hampton and Sag Harbor. The modernized eat-in kitchen has top-of-the-line appliances, beautiful hand-crafted cabinets and was featured in two national design magazines.

• Open House and Studio Tour, November 21, 2015, from 2:00 p.m. to 5:00 p.m., 9 Rolling Wood Lane, East Hampton.  Contact Stacey Barnds for more information sbarnds@townandcountryhamptons.com 631.324.8080 ext. 224.  For more information about this property click here: www.TownAndCountryHamptons.com.

2015 HOME SALES POISED TO REACH 2007 LEVELS

Wednesday, November 4th, 2015

The National Association of Realtors September report confirmed what Realtors across the United States have been experiencing. Existing home sales climbed to a seasonally adjusted rate of 5.55 million or 4.7% — a huge gain of nearly 8% over 2014!

This spike made up for some of August’s soft spots. We suspect the stock market’s wild ride in August set the stage for the August weakness. However, the September spike was a welcome sign that the home sales in 2015 nationally are on target to hit levels not seen since the crash. The American Dream is alive & well! Yet there are a few rain clouds in the sky…

First time buyers seem to have lost some strength with logging 29% of all sales vs the 32% in August. We will be watching this to see if it is a trend or an anomaly. First time home buyers are significant players as they ear mark future demand.

Let’s seek to the Home Affordability Index at year’s end for more insight.