Archive for the 'Hamptons Real Estate' Category

North Fork Q2 Market Report: T&C Real Estate Business Up 20%

Tuesday, July 18th, 2017

The second 3 months of 2017 were not so kind to North Fork home sales.

At our Mattituck and Southold Town & Country Real Estate offices business was up approximately 20%.

Obviously, that was not reflective of the overall market conditions. This is why statistics are so important.

Jamesport (which includes Aquebogue, Baiting Hollow and South Jamesport) was hit the hardest with 40% and 42% declines in Number of Home Sales and Total Home Sales Volume, yet the Median Home Sales Price rose a healthy 6.8%.

The greatest Number of Home Sales occurred in the Southold (which includes New Suffolk and Peconic) market with 32 closings… just 3 less than the 2nd Quarter 2016. The Total Home Sales Volume and Median Home Sales Price price rose 2.3 and 2.7% respectively.

Mattituck (which includes Laurel and Cutchogue) experienced a big bump up in Median Home Sales Price from $414,985 to $757,000 — an 82.4% jump. The only sale over $3.5M was 397 Marratooka Road, Mattituck which sold for $4,500,000.

Looking at All North Fork Markets Combined and you see a nearly 25% drop in Number of Home Sales yet the Median Home Sales Price rose 18%. This tells us inventory is way low and demand high which results in price increases.

Southold | $2,200,000 | IN# 28807

Southold | $2,200,000 | IN# 28807


To view all reports visit

Hamptons Real Estate – A Glass Half Full

Wednesday, July 12th, 2017

Maybe I’m the eternal optimist or maybe I’ve just been doing this too long – HA!

Either way, I believe it is important to address the grim snapshot of the state of Hamptons Real Estate as described by some of my contemporaries, all for whom I have tremendous respect.

I have been reporting on East End Home Sales for 25 of the 35 years of my real estate career. During my tenure, I have seen two crashes, a few recessionary markets, and several bull markets. As they say, “The only thing constant, is change.” And change it does.

For the most part, the homes we sell are vacation homes – which frankly, are luxury items to the buyer – few are primary residences. These buyers don’t have to have what we are selling, as they can always opt to rent. The majority of our buyers work in some area of the financial markets: stocks, bonds, hedge funds, banking, etc. These particular buyers, for the most part, buy at the top end of our markets.

Definitely, there has been a strenuous pull back on the high end over the past 12-18 months due to various factors. But as with all cycles, this one, too, will come to an end, and a shift from a buyers’ market to a seller’s market will take place. We are already experiencing an uptick in showings, contracts and sales. The stock market is strong, bank stocks have rallied due to dividends, the Federal Reserve has shown confidence in our overall economy, and lending regulations are easing. All are indicative of a strong selling season.

On the high end, price adjustments are yielding some incredible bargains. There are several examples where you couldn’t buy the land, build the house, landscape, and accessorize, and pay less than the asking. So, for those value-driven buyers, the time to pounce is now.

As for the mid markets, all eight Town & Country Real Estate offices have experienced heightened sales activity. Last week, there were 82 closings on the East End and $135 million changed hands. That is a respectable statistic!

While our markets may have faced some headwinds such as the presidential election, geopolitical concerns, heightened emotions, there is change in the air. After all, the only thing constant is change. 

This Letter to the Editor originally appeared in the July 6, 2017 edition of the East Hampton Star.

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.

National Homes Sales Are Rocking!

Wednesday, May 17th, 2017

East Hampton | $17,750,000 | IN # 42068

The National Association of Realtors has released the first quarter home sales report for 2017 and the numbers are impressive.

Total existing-home sales rose 1.4% to a seasonally adjusted annual rate of 5.64 million.  This was the highest level since the first quarter of 2007, ten years ago!  Second only to 2005.

First time home buyers are back in the game. The national median home sale price climbed nearly 7% year over year. Reports show the driver, demographically, are millennials. These young adults are some of the oldest age groups to pull the trigger on the American Dream.  Failure to launch, The Great Recession, employment issues, and outrageous prices followed by the housing market crash all contributed. 

Although mortgage rates and prices are on the rise, there seems to be no pull back in sight. This is great news for the overall economy as everyone knows when homes sell, jobs are created. In fact, after the Great Recession, I predicted the housing market would pull the country out of the troth… and it did!

Furthermore, as is the case most times, the East End markets moved conversely to National trends. 

To view the Hampton Home Sales Reports visit

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
400 Hands Creek, East Hampton - Living Room

Town & Country 4th Quarter 2016 Home Sales Report

Tuesday, January 17th, 2017

How the mighty have fallen! 

The last 3 months of 2016 were NOT good for the Hamptons real estate markets.

11 of the 12 individual markets monitored by TOWN & COUNTRY experienced declines in the Number of Home Sales with the hardest hit being starlets East Hampton Village with a 46% drop and Bridgehampton (which includes Water Mill and Sagaponack) with a whopping 56% free fall. In turn, these two markets also experienced the worst losses in Total Home Sales Volume with Bridgehampton (which includes Water Mill and Sagaponack) down -70% from $305 million trading hands in the 4th Quarter 2015 to a scant $92 million for the same 3 months a year later, and East Hampton Village sank like a stone by -81% from $120 million to just $22.7 million year to year, 4th quarter.

Enough of the bad news, while the Number of Home Sales and Total Home Sales Volume were both poor performers in the 4th quarter, 2016, the Median Home Sales Price rose in half the markets monitored by TOWN & COUNTRY. In fact, Montauk, which remains one of the hottest markets, experienced a 61% leap in Median Home Sales Price 2015 to 2016 4th quarter from $815,000 to $1.315 million respectively. Prices are obviously going up in Montauk — “simply put, the supply is never going to out weigh the demand since Montauk is surrounded on 3 sides by ocean.”

Looking at All Hamptons Markets Combined and you clearly see activity in Hamptons home sales was pretty much on hold toward the end of 2016, particularly $10 million and up, where there were 14 closings in the last 3 months of 2015 vs. only 5 in 2016. The good news is all 8 TOWN & COUNTRY offices are reporting heightened activity since the election and I predict 2017 will be a much better year than 2016.

To view all reports visit

Hamptons Real Estate News – Bay Bluff Sells For $5.4 Million

Monday, December 12th, 2016


Manhattan luminaries Bill White and Bryan Eure recently sold their elegant East Coast traditional home, Bay Bluff, in Southampton's chic Atterbury Estates section listed for $5,400,000.  White, the former president of the Intrepid Sea, Air, and Space Museum and now CEO of Constellation Group, and Eure, SVP at Willis Towers Watson, married in 2011 at the iconic Four Seasons with over 650 guests in attendance and Queen of Soul Aretha Franklin in the role of wedding singer.  The pair purchased the 3,600 square foot beachouse in 2015 for $2,300,000 and the end product was a total transformation with the help of architect Bill Suk of Suk Design and contractor Joe Licciardi.  Suk previously worked on the renovations at the Intrepid Museum and with the couple on their landmark Chelsea townhouse renovation. The interior design work was the the icing on a beautiful cake, thanks to the talented Bryan Eure's designing eye.  


"This property has amazing views of Shinnecock Bay, Meadow Lane, and the Atlantic Ocean from nearly every room.  At sunset the home is filled with golden light.  Just stunning.  But the clincher was the decor… sheer perfection!" says Judi Desiderio of Town & Country Real Estate who sold the home.



To see more photos visit –

Hamptons Magazine Hosts Private Party At Union Cantina

Monday, November 7th, 2016

Judi Desiderio, Ian Duke, Debra Halpert

(Town & Country CEO Judi Desiderio, Union Cantina owner Ian Duke, Hamptons Magazine publisher Debra Halpert)

Despite what you may have heard, fabulous parties in the Hamptons don't end on Labor Day – the guest lists just get more exclusive.  Hamptons Magazine, the go-to arbiter of style and all things chic, celebrated the upcoming 2017 summer season on Thursday, October 27, 2016, with a cocktail party and private dinner at the newly opened Union Cantina in Southampton.  Our own Judi Desiderio joined the celebration with Union Cantina's owner Ian Duke and chef Scot Kampf, the pair also own and manage the popular Southampton Social Club hot spot, alongside Hamptons and Gotham publisher Debra Halpert.  We can't wait to see who appears on the first summer cover in 2017.


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


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!