Sometimes It’s All About The Location For Hamptons Home Sales

It is not unusual for there to be a steady dose of real estate transactions on roads that overlook the ocean. But recently, the hottest spot in the area has been Cedar Street in East Hampton, with a couple of the deals reflecting that they indeed are not oceanfront properties.

In March, 27east reported on the purchase, for just over $2.5 million, of a property at 55 Cedar Street by Washington D.C. attorney Robert Barnett and his wife, CBS correspondent Rita Braver. A sale since then is 139 Cedar Street by Robin Capstick, for $1,090,000. A drive down the street reveals For Sale signs sprouting faster than spring weeds, so one can assume that this hot street will see more transactions soon. However, what can be considered bargains apparently still can be had. Reported just in the past couple of weeks is the sale of 22 Cedar Street (to a limited liability company) for $890,000 and 8 Cedar Street to Emma Tirado-Alvarado for a jaw-dropping $495,000.

The numbers are exponentially higher on another street that has been pretty toasty lately, Halsey Neck Lane in Southampton. There, a buyer hiding behind an LLC recently acquired the property at 176 Halsey Neck for a robust $9,250,000. Down the road, 24 Halsey Neck was just purchased by SOWO Holdings for $4,775,000.

Over in Water Mill, Deerfield Road is not to be denied. There, Benjamin and Heather Werber recently wrote a check for $3,625,000 to purchase the property at 1576 Deerfield Road. Practically a stone’s throw away is 1951 Deerfield, and that has just been picked up by Robert D’Amico and Salvatore Laspada for $1.5 million. By the way, these gentlemen are the former owners of a house in Sag Harbor that The Press reported last month was purchased by the writer Candace Bushnell.

Back in East Hampton, one wonders about the flurry of activity on Hands Creek Road. Three adjacent parcels were recently all sold at once, for $900,000 each, to Hands Creek EH 1 LLC and two similarly-titled LLCs. A compound in the making?

But we have to give credit to those wanting oceanfront property for keeping the heat on their respective streets. Certainly Lily Pond Lane in East Hampton has been doing its bit, with just two acquisitions in the first quarter of 2016 totaling $179,800,000, the second by the movie mogul David Geffen. Dune Road in Westhampton and Westhampton Beach takes the crown, though, so far this year. A high-end sale was the $5 million Gregory Harman paid for 164 Dune Road, followed by Arthur and Nancy Calcagnini ponying up $2.8 million for 135 Dune Road in Quogue, $2 million plunked down by Anthony Cabrera and Kerri Porciello for 913 Dune Road, $1,625,000 from the pockets of Brian and Staci Childs for 893 Dune Road, and W3 Investments LLC shook change out of the piggy bank to the tune of just $700,000 for 265 Dune Road.