Behind The Hedges 16.07.2019 04:17 Springs Is Hot in a Cool Market: And Here's a New Record Price

Springs Is Hot in a Cool Market: And Here's a New Record Price

February 08, 2019 By Laura Euler

We've been noticing for a while now that Springs prices have been heating up. Unfortunately, this is difficult to quantify easily, as none of the brokerage market reports breaks Springs into its own category. (Town & Country, which provides fairly granular data, distinguishes between "East Hampton Area," which includes Wainscott, and "East Hampton Village." Corcoran too only singles out East Hampton Village.) And why not? In a market known for sky-high prices, Springs is one of the most affordable areas east of the canal.

This new-build has just set a record for non-waterfront new construction. It closed last Friday (2/1) at $1.975 million. And, showing there's a hunger for family-friendly new builds at this price point, the property was listed Labor Day weekend (at $1.999 million), in contract by Thanksgiving, and closed before Presidents Day. Ed Bruehl at Saunders, who listed the property with Saunders' Jennifer Brew, told us, "The house was designed right, built well, located perfectly and priced correctly." The house was completed within seven months of breaking ground.

Builder Taylor Stuart Herman of TSH Development initially opposed Ed Bruehl's asking price suggestion of just under $2 million, but relented. Herman says that while many builders shy away from this price level, they see opportunity.

So let's take a look at the property! The house, which features covered porches front and rear, is a traditional shingled style. There's 3280 square feet, with 4 bedrooms, including one on the ground floor, and 4 baths. The lower level is not finished, but offers high ceilings and egress, so in the future another 1600 square feet could be added to the house. Everything inside is pleasant and simple, with an attractive kitchen and bathrooms. There's a separate garage on the 1.08 acre of land, and of course a gunite pool.

Well done to all involved and congrats to the new owners.

For more, click here. 24 Wildflower Road, East Hampton

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