Real Estate Roundtable: Best East End Deals of 2017
Our roundtable of Hamptons and North Fork real estate brokers and industry insiders answer: What was the best deal you made in 2017? Why was it so good?
So far, my best deal of 2017 was two homes, sold together, on the ocean. The buyer started looking for a home for a 1031 exchange for half the price, but indicated they would move up in price for something special. I brought them to my two-house, three-acre listing on the ocean and voila . . . it became obvious this was the deal for them. It was a great deal because seller, buyer, and broker were all very happy.—Marcia Altman, Brown Harris Stevens
My best deal was earlier this year when I was showing a would-be renter homes for August south of the highway. Not liking what he was seeing I bumped him up to a higher price range and he fell in love with one of the houses that was also my listing for sale. He liked it so much that the rental was forgotten, a sale was pursued and the final outcome was a happy buyer spending Memorial Day weekend in his own house.—Gary DePersia, Corcoran
My best deal of 2017 was on a waterfront piece of land in Sag Harbor. It is a very nice one-acre parcel on Morris Cove, and with the right architect and land planner, we were confident we had room for a 3000 square foot house and small pool. Well, it all went downhill from there. The seller did not get the right architect (not the seller’s fault), but he did hire the right land planner (Britton Bistrian). Add to the mix a couple hurricanes and a nor’easter that moved the wetlands line back 70 feet, and of course, Sag Harbor Village was absolutely no help. Anyway, fast-forward five years later and with much expense to the seller, we finally got it sold. It’s my best deal of 2017 not only because we got the deal done, but because I was lucky enough to have a pragmatic seller who very early on came to understand how frustrating it is to work with Sag Harbor Village, the Harbor Committee, DEC, and the Planning Board. I was lucky indeed.—Bill Williams, Compass
The best deal I made this past year may not have been my biggest deal but was my most rewarding. I was contacted by an owner who was looking to rent their house in Southampton for the year as they were moving to Massachusetts to be closer to their grandkids. They wanted their property to be taken care of, as they wouldn’t be around to check in on it. We ended up finding great tenants who had recently started as nurses at Southampton Hospital—a perfect match for the owners. We couldn’t have asked for a better deal.—Douglas Sabo, Nest Seekers International
The highlight for me in 2017 has been to find the perfect buyers for my listing at 27 Lower Seven Ponds Road in Water Mill. It was a spur of the moment showing that just worked. Eight acres of property with views of Flax Pond. Small shingled cottage that will be expanded. That property is an oasis in the heart of Water Mill. I am also thrilled that Southampton Pointe by Fairfield is selling. Several units have gone into contract already; it so exciting to be on a project like that from the ground up.—Mary Slattery, Corcoran Group
The best deal in 2017 was not because of the money but the ability to help someone. The owner was difficult to work with and had gone through a number of brokers. One day, he explained that he had been having serious health issues and I realized it was affecting his decision process. Once we broke the physiological and psychological barriers, I was able to guide him to a fruitful conclusion. He and his family were happy and I felt good!—John Christopher, Sotheby’s
A six-bedroom on 111 Downs Path in Southampton Village. My exclusive. The property came on market, was in contract in one week, and closed within 5 weeks, over ask!—Carol Nobbs, Douglas Elliman Real Estate
I recently sold a charming waterfront overlooking the Peconic Bay in Hampton Bays. It had been in the same family for over 40 years. Generation after generation swam and sailed there, and some children even got engaged at their beach. Unfortunately, the owners’ previous broker had guided them to a price that was not supported by the comps and, therefore, no offers came in. It sat on the market for over a year, during which time the elderly wife passed away. The family engaged me to list the house and, because I priced it right, showings increased and an offer came in from a television personality who fell in love with the home’s private setting. I actually teared up at the closing because the family had been wonderful clients and it felt so bittersweet.—Aimee Martin, Saunders
One of our favorite deals this year was our listing and sale of 140 acres of vines on the North Fork. In Peconic, the soundfront property included a historic, Victorian Italianate residence, perfect for a B&B. The property included full development rights, perfect for an investor.—Judi Desiderio, Town and Country Real Estate
I would say 59 Hither Lane in East Hampton, which sold with the furniture for $10.555 million to a wonderful family. A few months later they were able to purchase the vacant lot next door from me for $5.6 million. I loved working with these buyers, and I am so happy for them.—Martha Gundersen, Brown Harris Stevens
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