Only a handful of homes in Hampton Bays sell for $2 million or more each year, all of which are on the water.
Most people generally think of Hampton Bays as the large peninsula south of the highway jutting out into the Shinnecock Bay, where almost all the homes and amenities are located. But there are some homes in the more sparsely populated north side of Hampton Bays, where this house is located.
This home is on Red Creek Road, which runs along the north shore of Hampton Bays. Waterfront homes along this street face northeast to great Peconic Bay and the North Fork.
The house was built in 2005 and is a 3,800-square-foot shingled post-modern, with five bedrooms and 3½ baths. Like many post-moderns, the interior has an open floor plan with a large central room with double-height ceilings, and kitchen, living and dining areas gathered together.
The overall shape of this house is quite unconventional: it’s a “U” shape—surrounding a central brick courtyard, which opens to a gate leading to a path down to the water. There is no pool, but room for one on this 1.7-acre lot, assuming there are no environmental issues to prevent one.
This home last sold in 2005, following completion, for $2.5 million. This sale represents a significant loss for the seller. In many instances, we are seeing sellers who purchased in 2005 recoup all of their money in sales today. But in some cases, and in some markets, today’s values are less than 2005 prices. That appears to be the case in this area.
27east on Jul 12, 2012