Top 5 Stories of the Week: New Owner for Ruschmeyer’s, Hamptons Real Estate Market Still Piping Hot

Ruschmeyer's restaurant and bar area. Courtesy Brown Harris Stevens

Ruschmeyer’s, a Montauk landmark and summer hotspot overlooking Fort Pond that went on the market this fall for $35 million, has a new owner, just in time for the 2021 summer season.

“We are very proud to have been involved in securing this landmark deal in Montauk,” said Anthony C. Cerio of Brown Harris Stevens, who, with Mitchel Natter, listed the properties. “For nearly 70 years, Ruschmeyer’s has been an important part of the Montauk community and we are excited to facilitate the ‘passing of the torch’ to new ownership and look forward to what promises to be a fantastic new operation.”

Hal Zwick and Jeff Sztorc of Compass Commercial represented the buyer, who we understand is Jeremy Morton, who is also behind Morty’s Oyster Stand, at the former Cyril’s Fish House location on Napeague, and Provisions Natural Foods Market & Cafe in Water Mill.

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Market Report: It’s the Hottest Softening Hamptons Real Estate Market

Statistically, the market is cooling off from where it has been, but is still piping hot. The chart below shows the market coming to equilibrium, as well as the rollercoaster of the last 12 months.

Increased pricing is the highlight of the Q1 2021 Hamptons story. March’s median sales price of $1,975,000 is a +41% increase year over year and +1% from February to March. For larger context, the median price for 2020 was $1.8M, 2019 was $1.525M, and 2018 was $1.545M.

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Auction Scheduled for Chris Whittle’s East Hampton Estate

The living room in the main residence. Credit: Bespoke Luxury Marketing

Embattled education entrepreneur Chris Whittle may soon lose his expansive waterfront compound on East Hampton’s Georgica Pond. The Suffolk County Sheriff’s office has scheduled an auction for the property, which he has been trying to unload since 2014, for Tuesday, April 13.

In February, Whittle relisted his 11.2-acre property at 90 and 100 Briar Patch Road at $95 million with Bespoke Real Estate, slashing the asking price by 32.1% from the original list price of $140 million in 2014.

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Dock Permit in Place for Sag Harbor Home on Little Long Pond Asking $3.2 Million

Courtesy of Corcoran

A custom-built home on Little Long Pond in Sag Harbor offers direct access to the water for kayaking and paddle boarding, and a dock permit in place sweets the deal. The property, located at 62 Laurel Lane, is listed at $3.195 million with Mala Sander at Corcoran.

The approximately 5,600-square-foot house, rebuilt in 2018 on .7 of an acre, features many modern luxuries and amenities, undoubtedly offers a thoughtful and energy-efficient design.

“The open floor plan takes advantage of the pristine water views from almost every room and allows light to stream into the living areas year-round,” according to the listing.

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Contemporary East Hampton Home, Offered for Just Under $3M, Capitalizes on Water Views

The home at 23 Pond Lane near Clearwater Beach in Springs offers views of Gardiner’s Bay from nearly every room.Courtesy of Sotheby’s International Realty

A contemporary East Hampton home near Clearwater Beach, listed for $2.995 million with Rylan Jacka of Sotheby’s International Realty, was designed to maximize the water views and natural light.

The 2,260-square-foot home, designed by Greenwich, Connecticut-based architect Laura Kaehler and built in 2017, faces west over an idyllic pond.

“The property has great views of the water and they wanted to capitalize on those views,” Kaehler wrote on her website of her clients’ request for their vacation home in Springs.

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