This house is one of the famous Leisurama homes, an important part of post-war American housing history.
In the late 1950s, developers conceived of a simple and affordable vacation home for working-class people. A prototype of a small ranch home of about 1,000 square feet—with the revolutionary concept of an open floor plan with kitchen and living space together—was displayed by the United States at a Moscow trade fair. Told that a typical American worker could afford such a home, Russian Premier Nikita Krushchev insisted it was fake.
In the early 1960s, a full-size Leisurama home went on display at Macy’s department store in Manhattan. The turn-key home was available in three models and was offered fully built, with a 7,500-square-foot lot in Montauk, for around $15,000. Approximately 200 of these homes were built, and they included not only the land, but furnishings and equipment as well, right down to the bath mat, linens and table settings.
With an “all-in” purchase price of around $15,000—including furniture—there was never an easier way to buy a brand-new house in the Hamptons. And what a great deal it was for the owners over time as well.
The neighborhood where these 200 homes were built became known as Culloden. Each Leisurama lot also included deeded access to the bay beach within walking distance.
This particular house is a 950-square-foot one-bedroom model, which was the most popular model built. It also came with a fold-down Murphy bed in the living room for guests, plus a carport.
These sturdy little ranch houses had redwood siding and brick fireplaces. They have held up remarkably well, especially considering the Montauk salt air to which they have been exposed for almost 50 years now. Over time, many have been modified with decks and small additions, so that there is a pleasant variability to the Culloden neighborhood.
This sale for $510,000 almost 50 years later than the build date is a compounded annual return rate of almost 8 percent. That’s a terrific return, and it doesn’t include being a part of history and 50 years’ worth of memories at the beach.
27east on Mar 3, 2012