Andrew Doud 0:08

It is Thursday, everyone. I'm Major Down. Time for our Happening in the Hamptons podcast, our weekly breakdown of the Hamptons Market, new listings and events on the East End. We are sponsored today by New York Title Abstract, the Hamptons Leading Title Insurance Firm. Visit NewYorkTitle.com. We have Steve Glick, Dave Retiner, and return guest, my better half, Miss Sarah Dowd. How are you?

SPEAKER_00 0:28

Wonderful. Thank you for having me. Exciting time of the year.

Andrew Doud 0:31

Yeah, good to have you back on. So here we are, uh starting 2025. You've been busy. I know. And um, so tell us a little bit about what 2025 has looked like for you so far. Uh a lot happening with you, kind of all over, but a lot going on in Hampton Bay's.

SPEAKER_00 0:46

Yeah, so interesting compared to last year. Last year was a little bit, we were on the podcast and we talked about how it was kind of like crickets through the holidays and crickets into January. This January has been explosive. So I do have listings from West Hampton Beach all the way out, you know, out east and one in Sek Harbor. Um majority of my work currently is in Hampton Bay's. Everything is in contract. And I think that's huge and telling to two things, to the market in general, that the market is alive and thriving and moving. Um we're talking cash offers, off-market deals, full-ask uh deals, uh, full ask listing price offers. So those are the things that sellers want to see, those are the things that sellers are getting. Um so if it's done right, uh marketed right with the right agent, the market is alive and well. I think we're gonna see a really great 2025, personally.

Andrew Doud 1:37

So the other thing that's going on in Hampton Bay's is this proposed downtown redevelopment, uh, which is um gonna basically connect the existing Main Street with uh Goodground Park, which is just to the north. Um, and there's a large chunk of land that's owned by Alfred Cayola um and some partners, and they are looking to basically put in a mixed-use space there. Um so to that point, uh we have uh Mr. Alfred Cayola on the on the phone with us joining us today. So uh Mr. Cayola, first of all, thank you so much for joining us this morning. Can you give us a quick rundown of what's going on?

SPEAKER_03 2:13

Firstly, thank you for having me. Uh really appreciate being able to share my thoughts and vision with you and others uh and and your listeners. Um so basically, uh I've been in and around Hampton Bay from when I was a child. Um we bought a property, my family and I uh back in 2000 um and built a sort of a family compound, and we've loved it ever since. But I always recall, you know, not having a place necessarily to go into in in downtown and sort of walk around, see people, get a coffee, shop a little, or what have you. And that was something that you know I think w myself and others really missed about Hampton Bay's. Um, but we envisioned a a different kind of main street where, or a main street that evolves in in in two in in not only one direction through back and forth, but in width.

SPEAKER_00 3:14

You know, this is not a visual platform, so just to kind of paint the picture for folks, we're talking about Main Street uh moving east to west, and then there's a chunk of property above that on the north side, and then the park. So our landscape, if you will, um would be that zone, and and you're looking to kind of do all of this on the north side of Main Street, correct?

SPEAKER_03 3:35

That's correct. So there was a lot of you know, little bits and storefronts along there, and you know, insurance uh offices and things of that nature, but behind it, all the way to Good Ground Park, is 600 feet of wooded area. So we proceeded to, you know, acquire all of those parcels in and around the access road to the park between Montauk Highway and the park road, so that we could start to develop and design an offshoot to the existing very linear segmented Main Street and create a really pedestrian-friendly, diverse, store-to-store to store, mixed-use downtown that could remain vibrant for years to come, and it'll be a sustainable type of situation. Oftentimes downtowns are, you know, just the store, and maybe a little bit of some residential, but at night it's pitch black dark, and you really don't have a reason to go there. By creating a mixed use downtown, which was my vision, we would sustain life 24-7 in the downtown, um, but always keeping the charm of Hampton Bay's. We we never wanted to envision something where the design would impose in any way on the character and feel of Hampton Bay. So we went we went about creating this design with some really brilliant master planners, um, and believe we came up with with an excellent design. Um, you can see that on our website at hbdtr.com, which is Hampton Bay's Downtown Revitalization.com, and it'll show you exactly where this entire new Main Street or extension of Main Street, which is pedestrian-friendly, will lead you right to the park with all sorts of diverse uh store-to-store uh shops.

Andrew Doud 5:40

Uh Alfred, when uh where do things stand as as far as um when we might see this project underway and breaking ground?

SPEAKER_03 5:50

Yeah, so it's you know, we've been on this nine-year path, uh, but we've recently uh picked up tremendous momentum. You know, we're we're sharing our vision with with the town people who many of them never even knew it existed, this park and and this vision. So I think um the momentum has begun. I think what's really helped it tremendously is that you know, the mixed-use concept where people may shy away from the concept of residences in downtown. Um there's a tremendous need for affordable housing, um, which doesn't mean low-income housing. It means housing for the young professionals so that they can grow their lives in Hampton Bays and provide their skills and services and have their families continue in Hampton Bays as opposed to moving out. Um so that's a big part of this um mixed-use concept, not only to keep the downtown vibrant, but also to provide much needed affordable housing.

Andrew Doud 6:51

As part of this development, there would be um uh a sewage treatment facility that would have to be installed that would benefit not just this redevelopment area that you're proposing, but also the existing downtown, which would give current businesses and buildings the opportunity to um uh I guess grow or at least expand what their use availability would be.

SPEAKER_03 7:16

Absolutely. And you know, I think the well, clearly the STP, the treatment plant, is key. Without that, nothing happens because you just don't have the right to do anything really, even commercially enough to, you know, create the proper downtown environment. Um so yeah, so that's critical. I think what's what's important to understand is, you know, while we're creating a new pedestrian-friendly main street connecting Montauk Highway to the park, the critical mass necessary to tip the scale where it really becomes a destination place, um, you know, is is is able to happen because we've acquired enough to create that critical mass. And what will happen is by virtue of you know, bodies coming to Hampton Bay's to shop, to walk, to dine, to enjoy the park, and the STP, the stores along Montauk Highway will be able to upgrade and have much more foot traffic and uh their businesses will also thrive over time. So Alfred, you know, we're not abandoning Main Street, we're enhancing downtown so that all of downtown can thrive.

SPEAKER_00 8:28

And Alfred, people listening might wonder what is this gonna cost me? You know, the the resident in Hampton Bay, as you might be listening, what is it gonna cost me? And what would your answer be to that?

SPEAKER_03 8:40

People are afraid that it's gonna cost uh more in taxes and so forth, but that's to the contrary. This will be a really revenue-generating source for the town. Um, I believe that it will, in fact, allow taxes not to be raised because of the revenue that this will generate.

Andrew Doud 8:58

All right. Uh Alfred, thanks so much for having us on. You had given that uh website earlier. We'll have people go there and check things out. And good luck with this project. I know it's been a long time coming, but we appreciate uh all your insight and your information, and uh thanks for joining us today.

SPEAKER_03 9:13

Great, thank you. Appreciate you guys. Thanks.

Andrew Doud 9:15

So, Sarah, I know you've been following this closely. You're also a member of the Hampton Bay's Chamber of Commerce. Is there anything else you want to add to this and and kind of how you see this impacting uh the real estate landscape in Hampton Bayes?

SPEAKER_00 9:26

Well, we already know that the real estate landscape is doing great in Hampton Bayes, and I think that this concept just really adds to an already terrific situation for Hampton Bayes. There's still a lot of questions, there's still a lot of research, there's still a lot of brainstorming, but the wonderful thing about this is that there's a lot of meetings, there's a lot of opportunities for people to weigh in. If you have questions, come to the meetings and ask them. Go to the website and see all the information that's there. So it's it's an idea worth paying attention to.

Steve Glick 9:54

It sounds like he's been working on this for a while. I think he mentioned he's been working on it for nine years now or something like that, and he has a really impressive website that has all different renderings of what it will look like and his vision of it. And it's really powerful that the fact that it includes also he mentioned affordable housing to have more housing for young professionals to live in Hampton Bay's and to start their life is great to see. And then having additional shops and restaurants and places uh to visit, it's a huge destination, and I'm sure it will enhance Hampton Bay's in the real estate market.

Dave Rattiner 10:28

The biggest problem in Hampton Bay is the town is completely perfect. It's a beautiful spot, it's right on the water. They have great restaurants, but one thing you just really can't do in Hampton Hampton Bay is just walk around and look in the windows, and you know, I mean, I do that all the time in Southampton. I just do like a lap around the town with my just did it in West Hampton the other day. Yeah, you can't do it. There's multiple streets in those towns where and the base you just go.

Steve Glick 10:54

Right. Right. You just have Montock Highway people.

Dave Rattiner 10:56

It would be so great if that was fixed. It would, it would completely change, it would completely change how people feel about it.

Steve Glick 11:02

So, how can someone support this clause? Is there something we could do?

SPEAKER_00 11:06

I think he mentioned the alliance meetings. I think those are great to attend because they often bring in experts, so someone from the town, someone who can answer septic questions, someone who can answer tax questions. So whatever it is that you have on your mind that you're wondering about, chances are they're gonna have an expert that can relay some really great information to you. Um so I think just showing support at this point is the best thing that anybody can do. Um, and there might be some questions out there that we need answered. So if you are have this burning idea in your brain, bring it forward and let's get an answer to that.

Steve Glick 11:39

This has been getting a lot of buzz. I've been reading about this a lot on 2017 on these uh the patch website and all these local websites. Lately, it's been all over the place. So I know that the momentum's there. I know you've been working on it for a while, but in the past year it's it's been front and center.

Andrew Doud 11:53

To me, it seems it feels a lot like uh like what just happened in West Hampton Beach. You know, they did a big push, they did a new um sewage, you know, sewage lines and stuff, uh and and it really enhanced downtown. It's beautiful. Um, I know we go to West Hampton Beach a lot um just to enjoy it. You know, they got great restaurants dining. It's good to me, my hope is that it it has a similar vibe.

Steve Glick 12:15

And everyone's betting from it, from the locals to the to the um shop owners to the bar restaurant owners. Everyone's gonna benefit from a revitalization of it.

Dave Rattiner 12:24

Every town deserves to have that, just the ability to to oh, what are we doing today? Oh, let's go into town, let's get a cup of coffee, let's walk around. Let's people watch, let's let's window shop. Every every town deserves that.

Steve Glick 12:35

I hope it's I hope he gets his thing approved.

SPEAKER_00 12:37

That'll be and myself, you know, my family goes uh back many generations there as well as out east here in Bridgehampton, and the history is very important to me. And I think what I love most about this is that it also seems to really resonate uh with Alfred, also. So if we can preserve the character and the history and make it true to Hampton Bay, is I think that's the win here.

Andrew Doud 12:58

That's a very good point. Great. Um so let's uh let's shift gears a little bit to the numbers, Steve. Um, you know, as Sarah was saying, she's been busy, obviously. So what are the uh what's the big picture looking like?

Steve Glick 13:07

All right, so this past week 24 listings went into contract. Last year 27 listings. So it's a small decrease of 11%, but 24 is still a strong number to see of activity in the Hamptons. Two years ago there were 18 listings, so it's an increase of 33% there. The breakdown of the 24 transactions this week, there was one between 10 and 15 million, three between five and ten million, four between three and five million, five between two and three million, four between one and two million, seven under a million, dollar volume is seventy-four million. Last year it was 102 million, so it's a decrease of 27%. But two years ago, the dollar volume was 37 million, so it's a big increase of 100%. New listings coming on in the market, uh 19 coming on, so that decreases the inventory by five listings. The breakdown of those 19 new listings there was one over 20, two between 10 and 20, four between five and ten, uh, two between three and five, three between two and three, five between one and two, two under a million. Inventory's at 1731 total listings, 1,308 active, 423 in contract. So uh a steady week. You know, it's good to see uh over 20 listings going into contract and close to 20 listings coming on the market.

SPEAKER_00 14:22

And you uh Sarah, you have what, four, five, hey, one listing left. Everything else is in contract. One left.

Andrew Doud 14:29

I want you to highlight this one because this is are you talking about the Sack Harbor one?

SPEAKER_00 14:32

Yeah, 55 Wickatock in Sack Harbor. The reason it's still left is because we've decided to, the owner's uh gut renovating the kitchen. So we're going to be putting it kind of back on. It's still on, but we're gonna be doing our open houses with a brand new kitchen. Um so this house is literally gonna be uh renovated, turnkey, 900 feet to Long Beach. You've got an office space, you've got two bedrooms, one bath, expansion plans, room for a pool. You can see Long Beach, you can smell the salt air. Uh it's a fabulous location. The price is right. It's a great price point for someone who just wants that entry level in Sag Harbor.

Steve Glick 15:11

This one's the one that I've got. This is the one to grab. I don't know why it's still available. I cannot believe it.

SPEAKER_00 15:15

But I'm telling you, with this new kitchen, this thing is the next one to go. And like you saw with the other ones, they go quickly.

Andrew Doud 15:25

Whoever took that, me. Um But you it highlights, it shows Long Beach in Sag Harbor. I mean, you're a big thing.

SPEAKER_00 15:32

And the rental history on this property is so solid. This little, it's a small house, right? But this little house has gotten extraordinary rental numbers, consistent rental income. This is a win for uh someone using it as you know just their beach house or someone who wants an investment.

Andrew Doud 15:47

There you go. Um speaking of wins, what's what's the winning, the winning? This isn't my best transition, I'll admit. But what's the what's the winning thing to do this weekend?

Dave Rattiner 15:55

Oh, there it is. I was trying to put together how you're gonna do it. You got it out there. Yeah. Um, well, let's see. There is uh Groundhog's Day this weekend. No, it's not. Are you serious? Yeah, it's February 2nd. Oh man, all right. That's happening. So there's a great movie. It is a great movie. Uh it's a weird holiday. I'll get I'll believe it's here already. Yeah. But um, I guess we're having a groundhog celebration. Do you have a prediction? Well, you're gonna find out on a at 11 a.m. There's a there's a groundhog named Alan in Hampton Bays at the Evelyn Alexander Wild Life Rescue Center in Hampton Bays. So much. Bring the kids down, and if he sees his shadow, that means what does that mean? Does that mean there's more or less? Six more weeks of winter. Okay. There's six more weeks of winter if he sees his shadow. You think so? Checking Google. And so what does he do? Does he give the nod? Like if he sees the shadow, he goes, I saw it. Yep, yeah. No, I think he goes back in the hall. He goes back in, I think. It's very cute. So that's in Hampton Bay's. Uh, you wanted to mention the Southampton Playhouse?

SPEAKER_00 16:58

Yeah, for one of my clients, I just want to give them a playful plug here. The um Southampton Playhouse coming soon. We all went there as kids to see movies. Um, it's been a long time coming with this restoration project, and it's really exciting that they're gonna be opening soon. I know I'm excited to be there and bring our family. It's kind of the cinema meets community spirit concept. They're gonna have um entertainment, education, community, uh, theater, live performance, local arts. It's really gonna be fun and something that the community can enjoy all year round. So I think a little bit of a soft opening coming soon, and then this summer should be really fun there. So look for that as you're driving by. It looks like they're doing the final touches.

Andrew Doud 17:38

Nice. That sounds great. Quick quick update. Uh a tradition derived originally from the Pennsylvania Dutch superstition that if a groundhog emerges from its burrow on the day and sees its shadow, it will retreat to its den and winter will go on. Yep, six more weeks. So if it doesn't see its shadow, I guess early spring. That's what we're hoping for. Great. Okay, continue.

Dave Rattiner 18:02

Continuing on. It's from the internet. You know, Doubt, as you know, Steve and I are um really into physical fitness and nutrition. And so we highly recommend this event. It's why Sarah laughing. The Levane, it's the Lavaine Bakery and Kids Squid in Sag Harbor combo. Beer, beer, beer and baking. So it's it's it's among the healthiest thing you could do for your body. It's on February 1st from 1 p.m. to 5 p.m. And at Kids Squid Brewing Company in Sag Harbor, they will be also offering Lavaine cookies. Love cookies, which is about the size of it's a it's a it's a giant blob of bubber, uh, of butter and and sugar and chocolate and nuts. Delicious. Unbelievable. And then you can, you know, wash it down with a you know 400 calorie IPA, and then you can go home and move on with your life.

Andrew Doud 18:56

That's great because the new exolutions have have tapered off. January's over. You're moving into February. Yeah. Let's get back to where we're comfortable. Right. Okay.

Dave Rattiner 19:04

You know, cry yourself to sleep. Why did I do that? Sounds like a nice trait. It sounds pretty unbelievable though. So you could do that, and then you know, this is kind of a goofy one. Um, there's a family fun drop-in creative lab late night open studio that's January 31st from 6 p.m. to 9 p.m. at the church at 48 Main Street in Sag Harbor, and you can drop in and you can do art, which sounds pretty cool. And there's gonna be artists there giving you directions on how to paint, and they'll have all the um arts and crafts and stuff like that. So it sounds like an easy breezy kids thing to do, you know, get out with the kids. Um, and so that's what's going on in the same week.

Andrew Doud 19:52

Nice. All right, uh, so we're back uh next week it's February. But hey, plenty going on. The market's busy, Sarah's busy. I know we can talk to other agents, they got a lot going on, so it's good. The real estate market seems to be moving right along and doing what it does. Uh, until then, we will see you next week. Thank you, Sarah, for joining us, and thank you to Mr. Alfred Kyle for his time today and explanations on what's happening in the Hampton Bayes. Until next week, everybody have a great day. I'm Major Dow, and that's what's happening in the Hampton Bay.