The Hamptons real estate market has been on fire since the pandemic hit a year ago. We check in with Real Estate Agent Jonathan Davis to give us the inside scoop.
As we approach the 4th of July weekend the Hamptons is back to business as usual. Two major deals have just closed totaling over $80M. 2024 Montauk Highway in Amangasett and 596 Ox Pasture in Southampton.
“The high end residential market in the Hamptons is quite robust with 21 closed transactions topping the $20M mark in the last year,” said Jonathan. One of them being 9 Olde Town which sold for a record price of $34M for an inland new build. “The question posed to me by developers in the past when scouting new land has been is the demand really going to be there for new houses with asking prices of $30M.” The data has come in and the numbers speak for themselves. “There is consistently over a billion dollars worth of transactions each year. The wealth is here and has been for quite sometime. Southampton is the oldest English Settlement in all of New York. It is home to some of the most powerful and influential families of our lifetime. Families expand and grow and with that so does the need for new houses. It is a very healthy sign of where our market currently is.“
Here are recent deals and listings that reflect the market’s new direction:
9 Olde Towne Lane, Southampton, sold for $34.5 million. This took years but it finally got done. Developer John Kean used the 15,000-square-foot, 10-bedroom home on four acres as a model for the 10-parcel, 47-acre private residential community Olde Towne.
63 Duck Pond Lane, Southampton, Just Listed with Nest Seekers for $35 million in April, 2021.
“This is the finest new build I’ve seen, it is the next one to go” said Davis, of the 16,000-square-foot, nine-bedroom home developed by Hamptons Luxury Estates on two acres with ocean views. “The amenities are absolutely insane.“
1400 Meadow Lane Southampton – Sold for $39.5 million. One of the first new builds offered for sale on the ocean in Southampton in over ten years.
91 Fowler Street, Southampton, Sold for $33.25 million. The collaboration by Lifton Green and JBialsky Premiere Design & Development features a 13,000-square-foot, eight-bedroom home on 3.2 acres with ocean and pond views.
55 Coopers Neck Lane, Southampton, Sold for $33.7 million. “This was a record for an-Inland new build before the John Kean Sale at 9 Olde Town. Two sales 6 Months apart totaling over $65M dollars. We have never seen this kind of activity” said Davis.
951 Flying Point Road, Water Mill, listed for $33,950,000 in June, 2021. Davis said the 11,000-square-foot, nine-bedroom estate with unobstructed ocean views sits right across from the famous Fordune enclave.
