Yep, it’s a buyer’s market in the Hamptons now. But properties will always sell, provided they’re at the right price, and three of them that in the past few months we’ve commended on price are now in contract.
The highest price of the trio is this one, 15 Greentree Court, Amagansett. Last ask for the property, repped by Enzo Morabito at Elliman, was just under $6 million. The property was initially listed two years before asking $11.5 million. In October, we wrote, “Now the ask is almost 50% off, is it at the right level?”
We guess so! The house is 5 bedrooms, 5 baths and 2 half baths in 6500 square feet, set on 2.06 of an acre. Designed by architect Kevin O’Sullivan, the house a new build that combines iconic midcentury modern style with the best of today’s technology, such as the glass wall that opens to the pool area. And the jaws of Mad Men-era folks would have dropped at the amazing 58′ infinity edge pool with 14′ waterfall. Outside also boasts the kind of amenities demanded today, like a stainless grilling station, a gas pizza oven, and an outdoor fireplace. Even the landscaping is midcentury in style.
[Sorry, folks, we got a bit ahead of ourselves here. The next property is not actually in contract yet.] Next up is 116 Ocean Road, Bridgehampton, for which the last ask was $5.6 million. Listed by Jane Peterson and Lewis Apito at Corcoran, the property’s original asking price was $9.8 million in January 2016. We wrote in October, “There’s pretty much unlimited scope with this property, which consists of a nice big parcel south of the highway, with a historic home and a legal guest cottage. You could move the main house, which was originally built for Samuel Osborn Hedges circa 1900, over a bit, add a new driveway, demolish the guest cottage, and build another house in the back.” There’s 2.64 acres of land, so plenty of scope for improvement.
Just between ourselves, we’ve heard some very interesting gossip about the purchaser of this place, so we can rest assured that something fabulous is going to happen on the property.
Next up is 33 Cedar Street, East Hampton. Originally the ask was $2.245 million about a year ago, but in November, the property, repped by David Zazula at Halstead, had an aggressive new price of $1.575. In November we wrote that we thought the place must be a bargain at that price, considering all it has to offer. And clearly a buyer agreed!
The plot is a very generous 1.5 acres with rolling lawns, gardens, and a pool. It’s on Cedar Street close to the village–you could walk to most things if you’ve a mind to. While Cedar is busy, this is a flag lot, so there should be some decent privacy and quiet. The house is 3000 square feet, with four bedrooms and three baths, not including a large basement that could be finished. And while we thought the interiors were a bit fussy, the green kitchen was fabulous.
Congrats to everyone! Sellers, agents, and most of all, the buyers, who we think have made very good investments.