Modlin Group, a boutique real estate agency in New York City, has expanded to the Hamptons, opening an office in Bridgehampton with Christopher Covert, a familiar name in high-end trades on the South Fork.
“I’m thrilled to officially open our doors in the Hamptons after exclusively serving private clients in the region for the past decade,” said Adam D. Modlin, who founded the company in 1999. The agency has “discreetly facilitated nearly $1 billion in Hamptons sales over the past few years and in excess of several billion in Manhattan sales since inception,” according to a statement.
“This represents an exciting new chapter for our firm, and I look forward to working with my esteemed partner Chris Covert and his team as we continue to expand our Hamptons footprint and provide unparalleled service and access to the most prestigious properties for our clients.”
Last fall, Modlin and Covert, then with Compass, were introduced through a mutual friend, who thought they had similar business acumen.
“Adam had been considering opening up his own shop on the East End for some time, having done a huge amount of business very quietly over the last several years and working through other partners out here,” Covert said. “He felt it was time to extend his brand here, to extend the level of services he offers his clients in the city — the same level of service, discretion and knowledge”
Meanwhile, Covert was building a business as an associate broker and running a team. “To actually run and open a business and step into a management level was a really exciting opportunity for me personally and professionally. Culturally, it was a stronger fit for me with what Adam has been doing in the city for 20-plus years and so it was an easy decision.”
Covert will serve as managing director for Modlin Group Hamptons. Already in 2023, the office has put $50 million in contract, including a trade on East Hampton’s Further Lane.
A Manhattan native, Covert has been working on the East End for a decade and lives in Bridgehampton.
“Covert boasts a comprehensive knowledge of town and village codes and regulations, which he couples with ongoing study of market movement, enabling him to provide the most comprehensive service for buyers and sellers,” a statement said.
He facilitated two of the top seven trades in the Hamptons last year, including 35 Potato Road and 543 Daniel’s Lane in Sagaponack, which sold for a combined $46.5 million and the $45 million sale of 194/218 Meadowlark Lane in Bridgehampton.
Modlin Group, known for closing high-profile, complex transactions both on and off the public market, has “facilitated numerous notable sales” in the Hamptons, including, according to a statement, the record-breaking sale of Jule Pond in Water Mill for $105 million.
The firm has brought several high-end listings to market. They include 1730 Meadow Lane in Southampton, an oceanfront estate with a home designed by David Netto, being offered at $44.95 million.
“Where else are you finding 3.5 acres with tennis, 250 feet of frontage, and complete privacy and in a home that is turn-key?” Covert said of the listing.
Another listing, 48 Forest Road on the eastern shores of North Haven is asking $19.95 million. Looking out across Sag Harbor Bay, the classic, renovated New England cape sits on a terraced bluff on a 1.5-acre parcel with 200 feet of sandy beach and a dock.
“It’s probably one of the only places left on all of Long Island where you can park your own seaplane,” Covert said. “If you look at that street, it’s very quietly and quickly becoming a billionaires’ block,” he added. “I think there is tremendous opportunity there.”
Modlin Group Hamptons is also representing several high-end, exclusive rentals, including a Norman Jaffe-designed home at 100 Further Lane in East Hampton Village that was recently sold at Sotheby’s Concierge Auction late last year. “Our client won the auction and we’ll offer it for rent this season while he makes future plans,” Covert explained.
The modernist home on a private 3-acre estate is asking $400,000 for Memorial Day through Labor Day, $200,000 for August through Labor Day, $200,000 for July only, or $375,000 for July and August.
The updated 7,500-square-foot house is asking $750,000 for Memorial Day through Labor Day or $700,000 for July/August.
“For those who value such a property, you’d be hard-pressed to find something similar and certainly not for rent,” Covert said.