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Hamptons.com

The Dirty Little Secret Of Hamptons Real Estate

Sponsored Guest Post by Gary R. DePersia by Sponsored Guest Post by Gary R. DePersia
April 30, 2015
in Real Estate
Home Real Estate

For years, prices of properties South of the Highway (SOH) have dominated the Hamptons real estate market. But, you might be shocked to find out that a trend is emerging North of the Highway (NOH).

The Times, They Are A-Changin’

Gin Lane, Meadow Lane, Lily Pond Lane, Further Lane… Just some of the fabled byways that would evoke visions of exclusive estates and pricey real estate in the minds of buyers with their real estate brokers salivating at the thought of the sizeable commissions to come. From Southampton to Amagansett, the affluent buyer and their fortunate brokers would jockey for the best properties on the ocean, bays, ponds, farm fields and villages that define the exclusive areas south of 27 (SOH). However Montauk Highway, our Mason-Dixon line, is starting to find itself besieged as less familiar roads with names such as Scuttle Hole, Day Lily, Robertson, Ferry, Deerfield and Hayground gain prominence. Indeed there is a large and growing number of buyers in the know who have discovered the many benefits and attractions of being North of the Highway.

Money, Money, Money

For years, one of the primary reasons to buy north was money. Houses and land were simply less expensive once you crossed “the Highway.” But look at these numbers… $36 million on Ferry Road, $20+ million on Day Lily Lane, $12.5 million on Cedar Street, and $9.75 million on Main Street in Sag Harbor. Those are just some of my significant NOH trades over the last decade. Suddenly “those” people who would buy North of the Highway have turned into “the” people savvy enough to pioneer the changing landscape of the Hamptons. Certainly with the resources to purchase wherever they wanted, the buyers on the streets above opted for special properties in unique locations. And the trend is bound to continue. In North Haven alone, there are four listings over $20 million, while from Southampton to Montauk, the landscape NOH is littered with other pricey properties for sale that are garnering significant attention. Still, the buyer unconcerned with proximity to the beach is finding tremendous opportunities and superlative values at prices far below its SOH counterparts. Hard pressed to find newly constructed, two acres estates with tennis South of the Highway for much less than $15 million, buyers are discovering that from Southampton to Bridgehampton, there are a variety of options available from just over $4 million to under $10 million. Looking for a nice, new house on an acre SOH for under $5 million? Don’t look on Parsonage, Hedges or Daniels Lanes in Sagaponack. Nor should you look on Ocean Road, Lily Pond or Further Lane where the starting prices are bound to be over $7 million. But, merely cross over to the other side, and options abound for new construction well below for what you could find for the same house SOH.

I Love Rock & Roll

And, rockers seem to love North of the Highway too. Mr Margaritaville, The Piano Man, Sir Paul and the Material Girl all call NOH home. Media darlings Matt Lauer, Christie Brinkley, and Alec Baldwin, as well as former Mayors Rudy Giuliani and Michael Bloombrg hang their hats well north of 27. Prominent people from all walks of life have discovered the open fields, the wooded seclusion and the broad bay fronts that define the many different areas NOH. Play golf? With the exception of the Maidstone, every 18-hole golf course IS North of the Highway, from the historic Shinnecock in Southampton to the tony East Hampton Golf course bordering the Springs and all the way to the very good and public Montauk Downs. Many Hamptonites actually plan their purchases so that the only long driving they do is from the tee.

Build It and They Will Come

When he started building on 14 Hills Court and the very northern reaches of Deerfield Road in the mid ’90s, Joe Farrell could not have imagined that only 20 years later he would be offering and selling houses from $8 million to nearly $10 million on the farm fields of Bridgehampton North. But that’s exactly what he is doing. Having just sold the first of five houses he is building on 2 acre lots with tennis within the fabled Two Trees Farm, Farrell has embraced NOH with renewed vigor offering numerous options from $3 million and up, setting the stage for other builders and developers to capitalize on the need for great, new construction at prices that could not be achieved south of 27. Want something with tennis at a price? I represent 5 houses from a variety of builders ready to go right now from just under $5 million to $6.5 million, several bordering open reserve. You’re not finding that on the other side of 27. Call me and let me show you.

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SoulCycle Expands To “The End” With Fourth Hamptons Studio

Sponsored Guest Post by Gary R. DePersia

Sponsored Guest Post by Gary R. DePersia

On the East End since 1995, starting with the legendary Allan Schneider Associates, now The Corcoran Group, Gary R. DePersia has participated in more than $1.5 billion of real estate transactions. With hundreds of his exclusive listings sold and closed as well as matching hundreds of his own buyers and renters with the right properties, Gary’s almost 20 years in the Hamptons luxury real estate market has generated benchmark sales. Qualifying as a national list maker since 2007, in 2014 he was again in the top 25 with nearly $200 million of real estate transactions for the previous year.

Next Post
SoulCycle Expands To “The End” With Fourth Hamptons Studio

SoulCycle Expands To "The End" With Fourth Hamptons Studio

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  • Review: “Ragtime,” Might be the Best Musical Ever at Bay Street Theater!

Bay Street Theater’s powerful production of the musical “Ragtime” mesmerized the audience and at the end had them on their feet applauding wildly. “Ragtime” is a must see. There are so many individual roof raising performances, yet the show is so much more than the sum of these amazing exhibitions of top level singing, dancing and physical acting. The drama is spellbinding. “Ragtime,” is running at the Bay Street Theater until August 28th, Visit www.baystreet.org for all information about show times and ticket purchases. @baystreettheater

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  • Sixty-Something: The Fleeting Whirlwind and Frantic Days of August

It’s almost mid-August and I feel elated. Then I also feel that summer is now quickly coming to an end. Eventually in August one does start counting the days to Labor Day. Over the six decades of my lifetime many amazing things have happened in August. Some out in the Hamptons. When I say August, I always just smile.

Read the full article at Hamptons.com (Link in Bio) #hamptons #august #summer
  • Premium Water Taxi Service Le Launch, Private Passage by Sea

Elevate your next dinner out with Le Launch, a private and luxurious water taxi service in Sag Harbor. Who needs the valet when you cruise up in style to your waterside restaurant? Skip the traffic and enjoy the serenity and scenery of the Hamptons via private water taxi. @lelaunchhamptons

Read the full article at Hamptons.com (Link in Bio) #watertaxi #hamptons #lelaunch
  • Figures Transformed, Three Generations of Artists at Southampton Arts Center

Southampton Arts Center presents, FIGURES TRANSFORMED, an exhibition of work focused on the representation of human form (i.e., figures). Featuring art from three artists across generations each of whose art incorporates the figure as central imagery. This thought-provoking exhibit is approachable for frequent gallery attendees and casual viewers alike—everybody has a body! @southamptonartscenter  @deborahbuck

Read the full article at Hamptons.com (Link in Bio) #southampton #southamptonartscenter #arts #figurestransformed #exhibition
  • Dom Pérignon Offers Three-Star Michelin Omakase Aboard Luxury Yacht in the Hamptons

This August, celebrate the last moments of summer with a one-of-a-kind gastronomic experience aboard a Dom Pérignon-branded yacht on the waters of Sag Harbor and Montauk.

For the first time ever, guests are invited to reserve private Dom Pérignon cruises on an 88’ San Lorenzo superyacht while enjoying a sushi omakase concepted by renowned 3-star Michelin chef Masa Takayama. His omakase experience has never been offered to book on a yacht… until now. Chef Masa crafted a unique menu designed to pair perfectly with recent Dom Pérignon vintages: Vintage 2012, Rosé 2008 and Vintage 2003 Plénitude 2. @domperignonofficial  @chefmasanyc

Read the full article at Hamptons.com (Link in Bio) #hamptons #DomPérignon #yacht #cruise #sushi #masatakayama
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The Hamptons Summer Fête
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Save Your Spot 
Share a drink and hors d’oeuvres, enjoy live music, and bid on items. 

Join for their fundraiser event to support iMentor youth. 

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