Lazy Point is a peninsula on Napeague Harbor in Amagansett that comprises about 100 acres. This little community of year-round and part-time residents live in modest cottages, many of which are weathered and full of charm. Although it's set back from the main road and rather quiet, adrenaline junkies know to flock there for great windsurfing or kiteboarding. Here are a few fun facts about this unique seaside neighborhood:> There are 49 houses in Lazy Point, and the average lot is 50 feet wide by 100 feet deep.
> The East Hampton Town Trustees own most of Lazy Point and lease land to residents who own the houses on top.
> In the early 1900s, the Trustees had set the land aside for people who needed a place to live. They were the first true low-income housing," said former Town Trustee Stuart Vorpahl. "They set aside this piece of land there, and you could build any kind of shanty or shack."
> Many of the houses have stayed in the same family, with current residents being members of the second or third generation.
> Originally, homeowners who wanted to sell their homes would submit a proposed home value to the Trustees, who would then put the home out to bid. This system changed in the early 1980s, when the Trustees realized most of the leases were going to out-of-towners and required the purchasers to be residents of East Hampton Town. The homes are now sold privately, and their value has increased, with modest cottages now valued at about $1 million.
> This year, Trustees and residents agreed to a fee increase of $150 annually, making the annual rent for land $1,650 with future hikes tied to the Consumer Price Index.
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Carey London on Sep 26, 2015