Wednesday, May 18, 2005

What Real Estate Bubble? The Real Hamptons.Com

Records are being shattered... Not enough time to bitch, only enough time to bid. Let's go over some comps!

In Contract

1 Lot (40 Acres) Sagaponack (between Hedges and Daniels Lane) $28 Million

1 Acre tear-down Sagaponack (Fairfield Pond Lane (South of Daniels)) $5.4 Million

.25 Acre 800 sq. ft. Cottage Wainscott (Beach Lane) $2.8 Million (No Room for Pool!)


Just Listed

1 Acre 3,000 sq. ft. Contemporary of Questionable Taste Sagaponack (North of Daniel's Lane, abutting 40 acres above which will soon be subdivided into tasty 0.80 acre lots suitable for McMansion's for 32 year old Hedge Fund managers.) $6.9 Millon

4 Acre Post-Modern Gut Job Sagaponack (Off Hedges, South Side) Abutting same 40 acre disaster-waiting-to-happen $9.0 Million


In short, prices are up 50% in the past nine months. You do the Math!

MSH Advice: Buy in East Moriches on the water

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