On ofe East End, there is rarely a dearth in real estate news, and it’s not always the biggest sales that get readers’ attention. As we usher in a new year, let’s first take a look back at the year that was. Here are the most-read stories in Hamptons real estate on Behind The Hedges in 2022:
When news broke in September that a waterfront building and marina at the end of Dune Road in Hampton Bays had sold in an off-market deal over the summer, it quite literally went viral. Situated just outside the Shinnecock Inlet next to Sunday’s On the Bay and Oakland’s restaurants on Dune Road, the 1.6-acre harborfront property features panoramic views of Shinnecock Bay.
“This spectacular location will once again be an all-day meeting place for East End residents — year-round, seasonal, vacationers and day-trippers alike,” says Hal Zwick and Jeff Sztorc of Compass Commercial, who brought the buyers after the owner contacted him.
We learned recently that EHP Hospitality Group, a rapidly growing collection of resorts, marinas, and restaurants in the Hamptons, bought the property — under a separate limited liability company. Last year, it bought The Inn Spot in Hampton Bays, a bayfront hotel and restaurant and the Dune Road property will be a sister location, described as a “hangout” that will be called the Dune Spot.
In February, the legendary Westhampton Beach Starr Boggs restaurant sold after many years on the market and several months of speculation about a sale. The new owners, David and Rachel Hersh of the Rooted Hospitality Group — behind restaurants such as Cowfish and RUMBA, both in Hampton Bays, as well as Flora in Westhampton Beach — bought the spot and quickly turned it into a new restaurant called fauna, which opened just before the summer. A plaque dedicated to the Starr Boggs, the man behind the former restaurant, is on the door to the new restaurant. Sadly, just a few months after the sale, Boggs died.
Apropos of year-in-review pieces, our roundup of the most expensive home sales in 2021 was one of our most-read stories of the year. Revisit the 2021 list to compare it to our 2022 list (coming soon!).
Bravo’s latest season of Summer House premiered in early 2022, showing how the housemates had spent the summer of 2021.The season debuted a new home base — a 6,500-square-foot house at 2136 Deerfield Road, in a wooded area between Sag Harbor and Water Mill. Readers from all over the country flocked ot the site to get a more detailed look into the $5 million pad.
A $118.5 million sale in 2021 led Nest Seekers International to file a lawsuit against the property owners, claiming they were owed a real estate brokerage commission. Clothing apparel businessmen Artie Rabin and his son Jason Rabin sold four contiguous properties they owned between them on Cobb Road in Water Mill right before 2021 came ot a close, in what was not only the top sale of 2021, but the second-highest trade in Hamptons history.
The 2022 year started off with what has remained the biggest sale of the year. Ron Perelman, the embattled chairman and chief executive of MacAndrews & Forbes, which most notably oversees Revlon, sold one of his two East Hampton estates for $84.5 million on January 6, 2022. The oceanfront property at 153 Lily Pond Lane went on the market with Sotheby’s International Realty’s Harald Grant for $115 million the previous summer.
The Westhampton Beach movie theater, shuttered for more than two years, is poised to come back to life and readers were understandably excited to hear about those plans in October. New owners are planning for a full renovation, says Inge Debyser, a Westhampton Beach resident and businesswoman, who is one of four partners who made the investment. Their company, Enthusiasm LLC, purchased the theater at 2 Brook Road back in April for $1.15 million — not the biggest commercial sale, but one that will impact the community.
In early May, the Boardy Barn in Hampton Bays, under the same ownership for 50 years, was officially sold. The legendary bar, known for its flowing beer and clientele that spilled out under a striped tent, had been listed for sale in the fall following the death of one of its owners. Patrons were truly saddened to see the news. An end of an era indeed.
The Montauk home Bernie Madoff once owned once again was put on the market in April. Tim Davis of The Corcoran Group and Cody Vichensky of Bespoke, who have the co-exclusive on the property at 216 Montauk Highway, listed it at $22.5 million. It is now asking $16.5 million.
News of the biggest sale in 2021 didn’t break until the end of January 2022, when real estate deed transfers revealed the major deal. Four trades composing one of the largest waterfront compounds that exist on the South Fork sold for a combined $118.5 million — which makes it the second-highest trade in Hamptons history.
North Fork’s popular Legends Restaurant and its adjacent cottages were listed for the first time in decades this summer. Hal Zwick and Jeff Sztorc of the Hamptons commercial real estate team of Compass have the exclusive listing for the year-round family favorite restaurant that sits across the street from the Peconic Bay in New Suffolk in the Town of Southold.
Sean Ludwick, once a prominent New York City real estate developer, was released from New York State prison in January a little more than four years after he was sentenced for the drunken-driving crash that killed his passenger, Sag Harbor real estate agent Paul Hansen, in 2015. In February, Hedges reported that the State Department of Corrections said he had to be released from custody by law, despite being denied parole three times, because of the number of years he had already served. The Hansen family later spoke out against his release.