News & Features

Questions. They are everywhere around us, and new ones keep popping up all the time. At certain moments, it can even feel that the more we know, the more answers we seek. With that in mind, we turned to real estate experts and insiders on the East End to learn what essential questions buyers and sellers need to be asking in the current market and climate.

As we work through unprecedented times, I counsel both sellers and buyers in a similar manner discussing the immediate life style needs of the family and how the potential transaction fits their overall financial portfolio. For buyers the market is still offering plenty of opportunity at every price point from Southampton to East Hampton and for sellers that have been on the sidelines the time is now to come to market.--James Peyton, The Corcoran Group

In today's world, safe and secure is on every buyer's list. The weekend/summer home is now an alternative full-time living space. Buyers and renters want to know the health status of the prior occupants. This is the first time I have heard "We want the house to be sterilized before we move in." I had to actually had to look up what sterilization meant in reference to a home. Sellers want assurance that the potential buyers are and had been COVID-19-free. It is a new world with new norms. Will we ever be the same?--Alan Schnurman, Saunders & Associates

Sellers need to be asking 1) How long will demand like this last? 2) How long will interest rates remain this low? Buyers should be asking 1) How long will interest rates remain this low and will the bank make the borrowing requirements more stringent? 2) With inventory on the North Fork so low, what am I willing to live without in the home that I eventually purchase?--Thomas McCloskey, Douglas Elliman Real Estate

With buyers looking to spend more time out east, the question they need to ask is, If the home is not everything they want, "Can I get permits to do what I want here?" Sellers should make sure their buyer is qualified and can close the transaction, because the wave we're on right now, like everything else, will eventually come to an end. Do not accept a deal with back doors out of the contract.--Judi Desiderio, Town & Country Real Estate

What will the housing landscape look like in five years. Where will houses and properties appreciate, versus what fits and solves as problem right now.--Frank and Dawn Bodenchak, Sotheby's International Realty

Buyers need to ask if properties have offers currently on them, and sellers need to ask if they're priced appropriately. Homes are selling across all price points when they're within striking distance of market value.--Tim Morabito and Nicole Weiss, Compass Real Estate

Buyers should be speaking to their lender and inquiring about taking full advantage of the incredibly low interest rates. Sellers should be speaking to their brokers and inquiring about how to get the most out of their investment in this extraordinary market.--Todd Bourgard, Douglas Elliman Real Estate

The most frequently asked question by sellers is "Is this the right time to sell my house?" For the first time, in a long time, the answer is resolutely "Yes." We are not suggesting home prices are going to soar in this new market. They have been too high for too long. What we know for sure is that homes that are priced responsibly are going to get sold.--Keith Green & Ann Ciardullo, Sotheby's International Realty

Take a journey back 100 years to see what a coming decade held...and imagine what the next 10 years may bring

Year the Village of East Hampton was incorporated: 1920

Earliest mention of the Hamptons on the silver screen (The Sheik): 1921

Year 11 mini-hamlets amalgamated under the name Hampton Bays: 1922

Year first paved highway to Montauk was built: 1923

Year the Beale family acquired the Grey Gardens property: 1924

Year the Bouvier family bought the Lasata estate, Jacqueline Kennedy Onassis' childhood summer home: 1925

Year Carl Fisher bought 9,000 acres of Montauk in hopes of turning it into the Miami Beach of the North: 1926

Year the Witch's Hat in Aquebogue was built: 1927

Year the Village of Westhampton Beach was incorporated: 1928

Grand opening of Montauk State Park: 1929

• Listed at $14.995 million
• 7 bedrooms
• 7 full bathrooms
• 7,000 square feet
• 1 acre

Six months into 2020, there have been significant and major properties sold across the East End. From an historic inn on Shelter Island to the largest sale on record in the Hamptons since 2016, here are the biggest sales thus far in 2020, as shared with us by each real estate group.

Brown Harris Stevens 385 Great Plains Road, Southampton, $16.5 million This Southampton estate was designed by Peter Schulte and has 10 bedrooms, 8 bathrooms, ornate flourishes throughout, gunite pool, tennis court, library, study, gym and more on 3.4 acres.

The Corcoran Group 24 and 28 Gin Lane, Southampton, $38 million This property features a carriage house, as well as land to develop. It was sold by Susan Breitenbach.

Daniel Gale Sotheby's International Realty 168 Dune Road, Quogue, $16.4 million Called the "Sand Castle," this mansion includes a strip of oceanfront, as well as bay access with 3 deeded boat slips. There's a tennis court, duneside pool with pool pavilion, and a 9-bedroom, 14,000 square foot gambrel house.

Douglas Elliman Real Estate 26 and 32 Windmill Lane, East Hampton, $45 million This property is not only the highest-sold property of the year so far, but also the largest on record in the Hamptons since 2016. The 6.7-acre oceanfront estate was built for Union Pacific Former President and later Chairman of the Board, James Evans. It comprises two parcels--including one with a 5,500-square-foot, five-bedroom, six-bath main house designed by architects Zwirko & Ortmann, which is sited on 5.4 acres, and a separate nearly 1.3-acre parcel with a 4-bedroom, two-and-a-half-bath guest house with pool. The parcel was co-exclusively represented by Paul Brennan and Martha Gundersen of Douglas Elliman, and Valerie Smith and Frank Newbold of Sotheby's. Gary DePersia of Corcoran brought the buyer.

Saunders & Associates 494 Hedges Lane, Sagaponack, $16.5 million This new build by Michael Davis features a stunning estate on 2.3 acres with 8 en-suite bedrooms, pool, all-weather tennis court, lush landscaping, an entry court, service entrance, and a large rear lawn and more. The property was listed by Terry Cohen.

Sotheby's International Realty/Corcoran 1050 Meadow Lane, Southampton, $42 million This property features 535 feet of ocean frontage on 3.38 acres, along with bay frontage and a private dock. The house contains 6 bedrooms, 9 full bathrooms, gunite pool, media room, wine cellar, wet bar, full covered terrace and more. It was listed by Harald Grant and Tim Davis and Gary DePersia at Corcoran.

Town & Country Real Estate 23 Grand Avenue, Shelter Island Heights, $4.95 million This historic commercial property, the Chequit Inn, was built in 1872 and has housed such guests as the Kennedys and Marilyn Monroe. Over the years the Chequit has been a Shelter Island mainstay. The Chequit Inn was listed by Nicholas Planamento.

As we all look for wisdom and insight great and small, East End real estate insiders share the best advice they've ever gotten, and lessons they like to share, not only from the world of real estate but the world at large.

In my early days on Wall Street, my manager pulled me aside and said to always live within your means, as you'll have good years and lean years and to always move with a sense of purpose. That got me through my first 20-year career. Starting in real estate, a veteran broker pulled me aside and said there's two things you need to do to be successful in the Hamptons: Answer your phone on the first ring and don't be an assh--e.--James Peyton, The Corcoran Group

Breathe. You have power over your mind, not outside events. Realize this and you will find strength in whatever you choose to do.--Deborah Srb, Sotheby's International Realty

I was a commodity trader for 25 years. There is always opportunity in the marketplace. If you do not see it, you are not looking hard enough.--Thomas McCloskey, Douglas Elliman Real Estate

This too shall pass, and just keep moving forward. Both were words my --father bestowed upon me that I live by today!--Judi Desiderio, Town & Country Real Estate

Real estate, like all markets, fluctuates. Good locations normally increase in price over the long term. When the market is challenged and everyone is selling and there is more supply than demand, it's an excellent time to be a buyer. The reverse is also true. When there is more demand than supply and the market keeps rising, that is a good time to be a seller. My favorite quote is, "When you're crying, you should be buying." You will never buy at the bottom or sell at the top, but it's that middle range that will send your kids to college.--Alan Schnurman, Saunders & Associates

My father, who recently passed, told me, 'Don't wait.' The more I thought about it, the more I realized that that statement applies to most anything in life that you want do.--Todd Bourgard, Douglas Elliman Real Estate

Keep it in perspective and take one day at a time. Consider the other party's point of view.--Hal Zwick, Town & Country Real Estate

A mentor once told me, 'What are you worried about? Do you remember what you worried about last year, let alone five years ago?--John Christopher, Sotheby's International Realty

Definitely limit the noise, focus on your business, your brand regardless move it forward and take it to the next level. The second you get distracted by the completion or others, your focus is not in the right place. Rise above all the nonsense and negativity, don't participate or engage, and always remember any set back or failure is temporary and simply a lesson learned.--Geoff Gifkins, NestSeekers International

For every problem, there is a solution. It might not be the answer you were looking for, but it's there. Keep looking.--Mary Terry, Compass Real Estate

Enjoying the silver lining of this all--slowing down, appreciating all we have and spending time with family.--Tim Morabito, Compass Real Estate

The best piece of advice I have ever gotten, that fits the environment under which we are currently living is: Live life one day at a time!--Paul Brennan, Douglas Elliman Real Estate

When I go down to the sandy shore I can think of nothing I want more Than to live by the booming blue sea As the seagulls flutter around about me I can run about when the tide is out With the wind and the sea all about And the seagulls are swirling and diving for fish Oh--to live by the sea is my only wish --Jackie Bouvier, age 10

There is a rich history that comes with "Wildmoor." It's the original Bouvier property built in 1895, that comes complete with a legacy of glamour and art. The residence, located at 55 La Forest Lane in East Hampton, was a place where the Bouvier family would host weekend polo matches nearby and entertain friends, the home where Jacqueline Lee "Jackie" Kennedy Onassis spent summers as a young child, a lifetime before she would move into the White House and an international icon of style and culture.

The former First Lady was born in 1929 at Southampton Hospital to parents American Wall Street stockbroker John "Black Jack" Vernou Bouvier III and Janet Lee Bouvier, but the Bouvier family legacy was embedded in East Hampton history well before she arrived. John was born in East Hampton in 1891. In 1926 the Bouviers joined the Maidstone Club, and John and Janet were married in 1928 at St. Philomena's Catholic Church, which is now Most Holy Trinity.

John's nickname "Black Jack" referred to his flamboyant lifestyle. It was said that he had an affinity for drinking, gambling and philandering. Soon Jackie's parent's marriage would become strained by John's alcoholism and affairs. The couple divorced in 1940.

John's sister, Edith Ewing Bouvier Beale, lived close by with her children at the notorious Grey Gardens estate in Georgica. Edith and her daughter of the same name, referred to as "Little Edie," were the subjects of the 1976 documentary Grey Gardens.

Jackie's grandfather, Major John Vernou Bouvier Jr., purchased Wildmoor in 1910. In 1925 he would purchase, with part of his inheritance, a larger estate named Lasata, located close by. Jackie's parents would use Wildmoor, which was a simpler home, during the summer.

Growing up, it is noted that Jackie idolized her father, who reportedly favored her over her sister, socialite Caroline Lee Radziwill. He would say Jackie was "the most beautiful daughter a man ever had."

As a child, Jackie was a bright student but at times misbehaved. A teacher of hers once described her as "a darling child, the prettiest little girl, very clever, very artistic, and full of the devil."

During her time in East Hampton, Jackie became a competitive equestrienne. The New York Times wrote in 1940 following a competition at Madison Square Garden, "Jacqueline Bouvier, an eleven-year-old equestrienne from East Hampton, Long Island, scored a double victory in the horsemanship competition. Miss Bouvier achieved a rare distinction. The occasions are few when a young rider wins both contests in the same show." Horse riding would remain a lifelong passion of hers.

Her favorite horse was named Danceuse. Many photographs of the two in East Hampton by famed society photographer Bert Morgan would appear in the book Young Jackie. A rare collection of these images was unveiled at Clinton Academy Museum by the East Hampton Historical Society in 2017 in a show that chronicled some of Jackie's formative years, recalling a bygone era.

Morgan, who was known for photographing the social set from Palm Beach to East Hampton, was encouraged by Janet to seek out young Jackie when she participated in East End events. He photographed her at horse shows, dog shows and fashion benefits, as she grew from a child into a young adult, according to the East Hampton Historical Society.

In 1960, the famed Abstract Expressionist Adolph Gottlieb bought Wildmoor to be by the ocean. His art studio, a converted carriage house on the property, is filled with light and surrounded by gardens.

Today, Wildmoor, which is on the market for $7.5 million (Paula Butler of Sotheby's International Realty holds the listing), has all the makings of a classic East Hampton summer home. The 4,291-square-foot home located on one acre of land offers six-bedrooms and four and a half bathrooms, a gabled roof, and a wraparound porch, a stunning atrium that flows into a pergola-covered terrace. The location, right off of Apaquogue Road, is just a short walk to the ocean. Listen as the ocean breeze blows, and poetry of long ago still hangs in the air. Oh-to live by the sea is my only wish...

• Listed at $5.995 million
• 7 bedrooms
• 6 bathrooms
• 9,000 square feet
• 10.9 acres
• Built in 1980