MEMORIAL DAY WEEKEND MARKED
the be-ginning of The Hamptons season. Most SouthFork luxury renters and buyers have alreadypounced on their oceanside residences this year.It is more then evident that the most sought aftertown is Amagansett; followed, in no particularorder, by Sagaponack, East Hampton, Water Mill,Bridgehampton and Wainscott. Geoff Gifkins, Se-nior Vice President at Nest Seekers Internationaladded that, “Southampton Village is still one of the strongest sale markets.”There seems to be “activity in just about everycategory—finished homes, fixer uppers, tear-downs, land—as long as the location is goodand the value can be established,” according toJennifer Brew, Associate Broker at Brown Har-ris Stevens of the Hamptons. Corcoran’s Execu-tive Managing Director in Bridgehampton, ErnieCervi, reported that sales have been especiallystrong this year. “We saw an increase in units inthe second quarter this year over the same peri-od last year.”While it’s late in the season to buy or rent,there is still great value in investigating your op-tions. The market has officially stabilized in thiscoveted enclave, boosted by strong internation-al buyers and renters, but there are still ways tocome out on top despite the high demand.Mr. Cervi attributes the record high prices to aninflux of international buyers hailing from Rus-sia, France, Italy, Germany, England and China.“This is an international resort and an excellentinvestment or second home for foreign buyers,”he said.Ms. Brew explained that The Hamptons havebecome a global brand, attracting wealthy in-ternational socialites and moguls. “[They] havea great deal of influence on this market sincethey contribute to demand…those people cometo the Hamptons for luxury vacation homes thatare also solid investments.” Mr. Gifkins shareda similar belief regarding the Hamp-ton’s market. “International buyersare normally very savvy, financiallyliquid and make purchases based onsound investment,” he said.Harald Grant, Senior Vice President at Sothe-by’s International Realty, explained that, whilehe has clients from Europe and South America,“the bulk of our buyers still hail mostly from thegreater New York City area.”Paul Brennan, Regional Manager of the Hamp-tons for Prudential Douglas Elliman said that“the market usually goes sideways during thesummer as people try to enjoy their vacations.”But don’t equate the market’s horizontal move-ment with dismal sales activity.Priscilla Garston, an Associate Broker also atPrudential Douglas Elliman, said that prices areclimbing as volume has increased and inventoryhas decreased. “It is a much better time for sell-ers. The market remains ideal for buyers withgreat prices and the lowest mortgage rates inyears,” she said. Mr. Brennan agreed and offeredhis advice: “Buyers should not wait to buy. Now isthe time due to low interest rates and ebb in mar-ket conditions.”Lynn November, Senior Vice President at Pru-dential Douglas Elliman, noted that potentialrenters may discover that “most of the greatrentals are taken, or the homeowners have decid-ed to use them.”Ms. Brew, of Brown Harris Stevens, also be-lieves that the summer season market for rent-als has already ended for July occupancy. “Nowwe’re getting a lot of requests for August rentals,”she said. “But buyers are still buying houses—wearen’t really seeing the summer slack off thatwe’ve experienced over the past couple of years.This year, several of our buyers are former rent-ers who’ve grown tired of renting—and tired of shopping for homes.”The driving factor for most renters and buyersis location and everyone wants to be within closeproximity to the ocean. “Bay, ocean, pond or anywaterfront in any hamlet,” Mr. Cervi said.For those feeling a bit priced out, there are a fewalternatives that still provide buyers and renterswith ocean-front access. “Shelter Island is a fabu-lous place to buy waterfront at lower prices thanthe Hamptons,” reported Ms. Garston. Sag Har-bor and Montauk are other popular hamlets thatstill have the complete Hamptons atmosphereand may provide friendlier price points.But don’t despair! Ms. Brew stated that thereare still rentals available in non-oceanfront prop-erties. “If a prospective tenant is willing to trim
‘Prices for prime properties—south of the Highway andOceanfront—are higher than they’veever been, even before the crash.’
Jennifer Brew, Brown Harris Stevens
IT’S NOT TOO LATE!
Continued on page C2
summer’s here. go for it!
Hamptons
living
,
June 18, 2012
special advertising section for the new York observer
Inside
calendar
OUr HaMPTOnSinSiderS Haveall THe BUZZ
pAgE C2
MOre realeSTaTe...
gOrgeOUSPrOPerTieS inHOT deMand
pAgE C2
wHere TO gO
we eXPlOre SOMeOF THe BeST OPTiOnSFOr dining, SHOPPingand well-BeingOUT eaST.
pAgE C4
Hamptons market retains value for buying and renting
By Benjamin-Émile Le Hay and Elyse Adler
34 Old Orchard Lai east Hampto.55 Ridg Road i Sothhampto.
COVER PHOTO:
Nest Seekers is Expanding inthe Hamptons
Wsthampto exclsiv:Dsigr Showcassix Bdroom Str!nst Skrs Itratioal,Coltt Lttiri631.287.9260
Catering doyenneJanet O’Brien andpartner-in-crimeHeather Buchanan tellus where the moversand shakers will bethis summer in TheHamptons.
MidsuMMerNight driNks
June 16
Private Home, East Hampton
Held in the gorgeous gardensof Tony Ingrao and Randy Kem-per’s East Hampton estate, thiscelebration of cocktails andmusic benefits God’s Love WeDeliver, which provides highquality nutritious meals to peo-ple with serious illnesses.
Tickets start at $300www.glwd.org
group For the easteNd gala
June 23
Wölfer EstateVineyard, Sagaponack
Celebrating its 40th anniver-sary this year, the East End galawill feature special guest AlecBaldwin and help aises moneyto preserve the environmentand the East End’s natural beau-ty. Wölffer Estate Vineyards isthe perfect
en plein air
setting,which consistently attracts adynamic crowd for cocktails,dinner and dancing.
Tickets start at $500www.groupfortheeastend.org
parrish art MuseuMMidsuMMer gala
July 14
Parrish Art Museum, Southampton
The PAM will bid adieu to itsspace on Job’s Lane and moveinto a new Water Mill location.This benefit will honor the “cre-ative spirit of the East End” in-cluding painter Chuck Close,choreographer Paul Taylor andwriter/historian Barbara Gold-smith. Guests will enjoy drinks,dinner and dancing in a totallytransformed tent. It is
the
so-cial summer destination for topartists, philanthropists, cor-porate and social leaders. TheAfter 10 Party with drinks, des-sert, and dancing is a favorite of the younger social jet set.Tickets start at $1000
Tickets for After 10 Party start at $150www.parrishart.org
eMpire state prideageNda haMptoNstea daNce
July 14
The Ark Project,Water Mill
This event draws over 1,000guests for the coolest danceparty of the season. DJ LadyBunny keeps guests dancingand spirits soaring all eveningas the crowd shows its sup-port for LGBT rights. There’sspecial fun for the kids as well.This event sells out so buyyour tickets in advance.
Tickets start at $150www.prideagenda.org
loNghousereserve gala
July 21
LongHouse Reserve Gardens, East Hampton
Bright lights of the creativeworld always arrive the-matically-dressed for thisenchanted evening in the gar-dens. This year, Composi-tion Long House Summer Galahonors Robert Wilson andDorothy Lichtenstein. It is al-ways a magical night.
Tickets cocktail hour $350Tickets seated dinner start at $750www.longhouse.org
JaMes BeardFouNdatioN cheFsaNd chaMpagNeNew York
July 21
Wölfer EstateVineyard, Sagaponack
This event is always a high-light for culinary connois-seurs. Guests are treated todelectable bites from localand New York City premierchefs. Paired with fine winefrom Wölffer Estate Vineyardand Champagne Nicolas Feuil-latte, the dinner is an epicu-rean’s delight. This year theevent honors Ted Allen andthe judges of the Food Net-work’s
Chopped
. In addition tobenefitting the James BeardFoundation, the organizationwill be presenting a scholar-ship for rising local culinarytalent.
Tickets start at $200 for JamesBeard members and $275 otherswww.jamesbeard.org
rock the dock – BaYstreet theatre
July 21
Long Whar, Sag Harbor
This event is held on theLong Wharf in Sag Harborwhere guests have the chanceto party alongside some of the world’s most luxuriousyachts. The benefit drawsstage and screen luminariesand, of course, will featurecocktails, dancing, tapas andmore.
Tickets start at $550www.baystreet.org
cocktails at suNset– BeNeFit For acria
July 21
Private Residence, Sagaponack
Held at the Sagaponack homeof Ross Bleckner, the annu-al Cocktails at Sunset eventwill benefit the ACRIA,The AIDS CommunityResearch Initia-tive of Americato support AIDSresearch andawareness.The eveningwill feature asilent auctionof fine art, DJand dancingwith cham-pagne providedby Veuve Clic-quot and cocktailsby Belvedere Vodka.
Tickets cocktails on thelawn $500Tickets for dinner start at $1000www.acria.org
BridgehaMptoN polo16th aNNiversarYseasoN
July 21
Bridgehampton
Bridgehampton Polo returnsJuly 21 – August 25 for Saturdayafternoon high goal matches.Nacho Figueras has partneredwith Owner Peter Brant tobring attention back to the ac-tual game. Held at Two TreesFarms, the match will have aVIP Tent for a select number of guests invited for a pre-matchreception and ring side seat thatwill feature a more understat-ed and luxurious atmospherethis year, thanks to event orga-nizer Shamin Abas. Tailgatesand stadium seating are alsoavailable.
bhspolo@shaminabaspr.com
super saturdaY
July 28
Water Mill
Having raised over $3.5 millionlast year for Ovarian Cancer Re-search, Super Saturday is thefeel-good shopping extrava-ganza of the summer. The eventwill feature over 200 designersoffering fabulous goods at fabu-lous prices. The event boastsa carnival and games for thewhole family. It is also a celebhaven, with Donna Karan, ArielFoxman,
InStyle
and Kelly Ripaas hosts. Bring your gold card.
www.ocrf.org
waterMill ceNtergala – the Big BaNg
July 28
Watermill Center,Water Mill
The worlds of theater, art,fashion, design and high so-ciety come together for thisvisceral experience on thegrounds of Robert Wilson’sWatermill Center, which pro-vides a unique environmentfor young and emerging art-ists to explore new works.Summer program participantsfrom 30 countries will createeight acres of installations andperformances for the event.
Tickets $500 cocktail Tickets start at $1000www.watermillcenter.org
great cheF’s diNNer
July 28
Hayground School, Bridgehampton
To taste the best of theHamptons, GreatChef’s dinner isa must-attendevent, featuringtasting stationsfrom somethe Hamp-tons’ very bestchefs. Thecocktail partyincludes localwine and cock-tails, a silent artauction and livemusic. Afterwardsguests can enjoy a spe-cial dinner prepared inJeff’s Kitchen, a culi-nary school for kids andadults on the HaygroundSchool campus. Funds will ben-efit the school’s scholarshipfund, named after beloved res-taurateur Jeff Salaway.
Tickets $150 Meet The Chefscocktail party Tickets $750 Dinner in Jeff’s Kitchenwww.greatchefsdinner.com
southaMptoNhospital gala –graNd prix MoNaco
August 4
Tent Wickapogueand Old Town Roads, Southampton
With a 54-year history, theSouthampton Hospital Gala isalways on the calendar of thesophisticated socialite. Theevening features cocktails, a si-lent auction, raffle, dinner anddancing with an orchestra andthis year benefits the Jennyand John Paulson EmergencyDepartment.
Tickets start at $750www.southamptonhospital.org
guild hallsuMMer gala
August 10
Private Location, East Hampton
With its long history of growing famous artists, theHamptons community comestogether for this party of theseason with cocktails and alive art auction followed bya tented sit down dinner at afabulous location. The galabenefits Guild Hall, which hasa vast array of cultural pro-gramming and art exhibits.Tickets start at $1000
Tickets for Juniors $300and Juniors Cocktails $100www.guildhall.org
authors Night
August 11
Gardiner Farm, East Hampton
Here more literary talentgathers under one tent than isimaginable. Over 125 distin-guished authors participatein a special cocktail partyand book signing to benefitthe East Hampton Library.Guests continue to a series of private dinner parties hostedby the Hamptons’ most glam-orous residents in honor of different authors.
Tickets $100 cocktail party www.authorsnight.org
aNiMal rescue FuNd(arF) Beach Bash
August 18
BridgehamptonTennis & Sur Club, Bridgehampton
ARF brings out the animallover in any guest that looksinto the faces of its rescuedogs and cats. ARF refers tothis beach bash as “Jewels of Summer” for its ocean-sidesetting, fresh produce andprime position for watchingthe moon rise. Guests willenjoy cocktails, raw bar, din-ner and dancing with a silentand online auction.
www.arfhamptons.org
harvest east eNdFood aNd wiNe classic
August 25
Snake Hollow Road, Bridgehampton
Harvest East End is a not-to-miss tasting of some of EastEnd’s best wines and foods.The evening will benefit theEast End Hospice, The GroupFor The East End and the Pe-conic Land Trust.
Tickets start at $125 www.harvesteastend.com
azuero oN the harBor
september 1
Private Residence, East Hampton
Held at the Springs Harborhome of artist Cindy Sher-man, this inaugural eventwill feature a picnic of tapasand cocktails with an artauction and performancesby Rufus Wainwright, Lau-rie Anderson, Ruben Bladesand Luba Mason. It benefitsThe Azuero Earth Project,which was founded to pre-serve the earth’s ecosystemsand promote healthy livingcommunities.
Tickets start at $1000www.azueroearthproject.org
C 2 | June 18, 2012 | The New York Observer
special advertising section for the new York observer
their expectations a little, and makea fair offer on a house they find ap-pealing, they might just get a nicehouse at a good price,” she said. Mr.Cervi recommended looking intohomes in Westhampton or Montaukwhere “you can still secure a greatrental.”Potential summer renters andbuyers are still faced with overcom-ing limited show clauses that manyproperties have, according to Ms.Garston. “It is often difficult to showhomes with limited show clausesbecause very often they can only beshown during the week. However,there are many that are accessibleso it is still a good time to look.”For those who missed out on a fullsummer rentals, Ms. Garston sug-gested renting for shorter terms—for two weeks or one month.One last step toward findingyour next Hamptons hideaway ismaking sure that contracting runssmoothly. Gioia DiPaolo, SeniorVice President at Prudential Doug-las Elliman, suggested seeking theassistance of legal counsel beforecommitting to purchase any prop-erty in the Hamptons. “It’s impera-tive [that] you have someone in yourcorner who knows the local build-ing codes, Architectural ReviewBoard procedures, etc.,” she said.The Adam Miller Group, P.C. is onesuch premier real estate law firmthat is a favorite among the manylegal eagle East End residents. Thefirm has counseled over $500 mil-lion in real estate transactionssince 2007 and has overseen a widerange of residential and commer-cial real estate activities includingsales, leasing, planning, financing,acquisitions and zoning.Whether you’re looking to buy orrent in the Hamptons, it is alwaysbest to be prepared and investigateall of your options, to keep an openmind and make sure to have a littlefun in the process.
It’s nOttOO lAte!
Clockwise fromtop left:
A night shot othe stunningproperty at230 Old MontaukHighway. The moderninterior o 34 OldOrchard Lane inEast Hampton. The ag ieshigh at thisBridgehamptonhorse arm andresidence listedat $3.95m. Take a dip in 15Dune Road’sabulous pool inQuogue.
‘Prices are still downfrom the high of 2007, sothere are many buyerstaking advantage of thelower prices and low mortgage rates.’
Geoff Gifkins, Nest Seekers International
Continued from page C1
h a M p t o N s
h a p p e N i N g s
2012
Guests at The Hamptons International Film Festival in East Hampton view a sand art installation.The lavish poolside decorations at a health beneft in Water Mill.Polo starNachoFigueras.
The New York Observer
HAMPTONS LIVING
| June 18, 2012 | C 3
This exciting, unusual triplex apartment is modeled on a private residence in London. The apartment is located in a ne,prewar Fifth Avenue building. The lower level has a gallery with a oating staircase, in the style of Delano and Aldrich. There
is a formal, book-lined dining room; a large, lacquered family room/eat-in kitchen; a stainless steel scullery and a powder
room. On the second level, the gallery leads to a formal living room with a replace and hand-stenciled Florentine wall
covering. The lacquered library/media room is large and comfortable. There are also a bar and a powder room.The thirdlevel has a gallery, 3 bedrooms, and 2 marble baths. The living room, dining room, and master bedroom have oblique CentralPark views.This fully-serviced co-operative building has extraordinarily low maintenance charges which include utilities.Pied-a-terres permitted. WEB:0016296
LeiLa C. Stone
| 212.606.7663Senior Vice President, Associate Brokerleila.stone@sothebshomes.com
eaSt Side Manhattan Brokerage
| www.sothebyshomes.com38 East 61st Street, New York, NY 10065
Operated by Sotheby’s International Realty, Inc. Sotheby’s International Realty® is a registered trademark. Equal Housing Opportunity.
930 FiFth avenue
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