Gary DePersia: The Corcoran Group’s “Broker In The Know”

When looking for exclusive luxury living in the Hamptons – BIG homes, BIG land, BIG views, along with BIG price tags – look to Gary DePersia, Licensed Real Estate Associate Broker with The Corcoran Group (formerly Allan Schneider Associates), to make your dreams to own or rent a reality.

In real estate on the East End since 1995, DePersia has earned and negotiated BIG bucks and BIG deals for his clients, coupled with the well-deserved BIG time respect from not only colleagues, peers and clients, but also the community. DePersia is definitely our “Broker in the Know” on Hamptons lifestyle living.

DePersia’s credits are sizable too. Participating in over $2 billion in transactions, he was the listing broker on the highest priced land sale in Bridgehampton (more than $37 million in 2007) and the selling broker for the most expensive single family residence sale ever north of the highway and off the water in the Hamptons (over $20 million in 2005). DePersia’s golden touch additionally includes acting as the listing and selling broker for the 55-acre waterfront oasis Tyndal Point in Sag Harbor’s North Haven. At $36 million, it remains the biggest residential sale ever north of the highway.

Consistently ranked among the top producers in the Hamptons, and a year-on-year member of The Corcoran Group President’s Council, DePersia has qualified as a national list maker since 2007. In 2008, he was Corcoran’s top broker on the East End by sales volume and rental units; and ranked as the nation’s #4 broker by volume. In the 2016 REAL Trends and The Wall Street Journal list of America’s top real estate professionals, he was designated #22 nationally and #5 in the Hamptons by volume with nearly $200 million of transactions for the past year.

Farrell Building Co’s 423 Parsonage Lane in Sagaponack, which is available for $12.495 million. (Photo: The Corcoran Group)

DePersia, a master of marketing, is well-known for his advertising savvy and the use of local, national and international media resources for web, social, print and broadcast mediums. He has appeared on Open House NYC (NBC), Living Large (CBS) and Best Places to Live in the Hamptons (PBS). A frequent media commentator about the market and exceptional listings in real estate, DePersia even occasionally writes a column for us here at Hamptons.com, and created his own website, myhamptonhomes.com. DePersia has always kept the “real” in real estate, and devotes as much time, energy and expertise to those who may desire a modest property, as well as to those looking for that BIG estate home.

This very, very busy and active “Broker in the Know” recently took some time to answer a few questions about the real estate market and himself:

Given the national trepidation of the upcoming presidential election, do you feel there will be any negative (or positive) impact on the real estate market in general, and the Hamptons in particular?

GDP: I can’t comment on what effect the election has had on our market, but I do think that as we move towards December, and the beginning of the New Year, we will see a much more balanced and active market. Many would-be buyers have been on hold for some time and the pent up demand will translate into increased activity.

The Great Room at James Michael Howard’s Mecox Farm (41 Halsey Lane, Water Mill). The property is listed for $19.75 million. (Photo: The Corcoran Group)

How important has energy saving and green homes, along with property sustainability become to potential home purchasers in the Hamptons?

GDP: Although it’s still not on everyone’s list of must haves, green homes and sustainability are factors most buyers are concerned with for the environmental impact or the savings in energy costs. As construction evolves to naturally include many of these aspects, they will become something people eventually will take for granted and expect to be included in new construction.

What is the most significant change you have witnessed in the real estate market over the last few years?

GDP: I’ve seen growth in geographic areas previously less desirable, along with buyers’ less reliant on proximity to the ocean. Waterfronts on the Peconic Bay, Noyac Bay, Shelter Island Sound, Gardiners Bay and those waters and inlets that connect to them from Southampton to Amagansett have become more desirable. Buyers have discovered their expansive water views and dramatic sunsets. As people spend less time sitting all day on the sand, the distance to the ocean becomes less important. As I have said for some time, the Hamptons are not just about the beaches.

Given your mastery of social and internet media, where do you believe the next BIG (there’s that word again!) outlet for advertising and marketing will develop from?

GDP: Whatever it is, I’m excited to see it and I’ll be ready. I can say, what works for my clients, buyers and me, is packaging content and skillful integration to present it across all platforms.

With your vast experience, is there any particular advice you would offer to someone who might be considering a career in real estate?

GDP: Once you decide on an agency, don’t quit until you give yourself a chance to be successful. I didn’t sell my first house until well over a year after I started. If I had gotten frustrated, or disillusioned and quit, I’m not sure where I’d be today, Also, if you are coming from another industry with no real estate experience, try hooking up as an assistant to a busy broker. You’ll be able to see how the business is done and get exposure to sales and rental listings, advertising and the brokerage community. It’s a great way to fast track your new career.

John Kean’s Twin Peaks (9 Olde Towne, Southampton) is listed for $39.5 million. (Photo: The Corcoran Group)

Do you believe tear down and new construction will continue to outweigh renovation for homes in the Hamptons and why?

GDP: Good, creative renovations will always have a place in the Hamptons. However, with all the great, new construction available today, buyers have never had more opportunities to secure a new, fresh home at almost every price level. Some are furnished, making it easy for a buyer to close and use right away, while others are blank canvases, ready for a buyer to create their own environment.

You are well-known as a risk taker in business, but also in your personal choice of sporting activities such as windsurfing and skiing. Is there a connection between the two?

GDP: I do like certain fast paced sports. In fact, it was the pursuit of high winds and windsurfing that originally brought me out East in the mid-80’s. A chain of events over the next few years brought me into Hamptons real estate. In that regard, they are closely related.

Any real estate projections for 2017 you’d like to share?

GDP: Each year brings surprises but also a certain continuity. Big properties will sell, some with record-breaking prices that will give pause. New developments will get a lot of attention. Buyers and renters will always jockey for the best properties.

Perhaps that old real estate adage, “location, location, location,” could justifiably be interpreted as “Gary, Gary, Gary!” This man knows all the nuances of the Hamptons market. He also most certainly knows and understands the wants, needs and desires of those wishing for their own particular Hamptons lifestyle — with or without the BIG bling.

To contact DePersia, call 516-380-0538 at The Corcoran Group, or email [email protected].