Dans Hamptons

Interest in East End real estate remains at an all time high and record levels in sales are still being set. Of the many millions of dollars awarded to Wall Street professionals this year, a substantial portion was invested into real estate. In fact, real estate has been the number one investment made by big bonus recipients so far this year. With the average bonus coming in at about $2 million, there has been an ample surplus for those who are able to purchase for that long awaited second home in the Hamptons. Close to 20% of all bonuses distributed were spent on real estate and much of that was spent right here in the Hamptons.

The Corcoran Group’s East End division has reported record level sales for 2006. They recently awarded one of their own brokers, Susan Breitenbach, not only with top producer of the year for their East End offices, but she has also been recognized as Bridgehampton sales person of the year. Ms. Breitenbach, resident of the East End for more than 20 years, has logged a billion dollars in sales to date. Pamela Leibman, CEO of Corcoran says that this success is due to her understanding of the Hamptons and its culture, people and properties with an instinctual depth that can only come from a lifetime of immersion and cultivation.

Ms. Breitenbach has just currently listed a $28,500,000 estate on the ocean in Amagansett. The home is set inside a reserve that overlooks the ocean. There is also a separate 1.5 acre building lot that will be included in the sale. The home was designed by internationally acclaimed designer Anthony Ingaro and has 5 bedrooms, 6.5 baths and 7 fireplaces. It is made uniquely from wood and stone and has an inground heated gunite pool, a pool house and a 2-car garage. There are stone covered porches that wrap around the house. It is listed with the Corcoran Groups Bridgehampton office.

Prices like that are nothing new here where we have an estate such as Three Ponds Farm, in Bridgehampton that is priced at $75 million dollars. This estate is once more on the top ten list of most expensive homes not just in the country, but in the world. This expansive 60 acre estate has been on the market for a few years. It has become known not only for its three private ponds for which it was named, but for its own Rees Jones 18 hole golf course as well. This estate has almost everything one could dream of. There are stables, a silo, 14 formal gardens, a pro shop, not one but two separate guest homes, a 75 ft. long flush edged pool, pool house and theatre. The mansion is 20,000 sq. ft. The architect, Allan Greenberg, is considered one of the prime interpreters of classic architecture and has worked on the White House, Princeton University and Rockefeller Center. The Estate’s price point counterpart would be a 30,000 sq. ft. California mansion facing Pacific oceanfront estate in Corona del Mar. It, too, is priced $75 million.

Forbes Magazine recently listed the ten highest priced homes for sale around the globe. Topping the list is a proposed $155 million ski lodge that is now under construction. Tim Blixseth is building a 53,000 sq. ft. sprawling spread in Montana. But until that is complete, coming in first is the 103 room-mansion in Surrey, England at $138 million that is literally larger than Buckingham Palace. This immense estate has several ballrooms, spa-sized bathrooms, an indoor squash court, a bowling alley and a 50-seat cinema.

Also in Amagansett, the building of the 2007 Design House is already underway. This year the home will be a traditional shingle-style designed by Steve Semes and built by Richard J. Gherardi of Sand Dollar Development. More than 20 designers will participate in the project, which should be completed by June of this year and ready for display this summer season. Each year, renowned local builders and architects join forces to display the latest in home innovations and design trends. This year’s Idea house is located on 12 Southwood Court in Amagansett and will open for touring on July 14 through August 5. The opening Gala to kick off the Idea House tours will take place on July 13. All Idea House events will be open to the public.

Real Estates