Andrew Doud 0:08

All right, everyone, it is Thursday. I'm Andrew Dow. 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 New YorkTitle.com. Mr. Steve Glick, Dave Retiner, and today Miss Sarah Minardi, return guest, are in our studio. Sarah, good to have you back. How are you?

Sarah Minardi 0:30

Oh, thank you. Excited to be here.

Andrew Doud 0:32

What is uh going on? You're like Miss East Hampton. You grew up there, you worked there, you live there.

Sarah Minardi 0:38

Yep.

Andrew Doud 0:39

You're very in the know with East Hampton. So um, and you got some great listings there, so we'll we'll get to those too. But what's going on? How's the market?

Sarah Minardi 0:45

You know, it's it's definitely picking up. You know, I think people are getting excited for August. The July crowd has been has been really going hard with being out at the beach and shopping around town and going to all the different events and um happenings and the new restaurants that are that are available and and open now. So it's been it's been a great summer. It's flying by.

Andrew Doud 1:11

Every time I go through East Hampton Village, it's like it's packed, it's jammed.

Dave Rattiner 1:16

But it's so beautiful. It's like that's the appeal. It's incredible.

Andrew Doud 1:19

Yeah, I mean, that's what people want. Is there's always people walking the streets and going into the shops and the restaurants. I mean, it's always, always busy. Um, which I guess is just you know, that's the time of year, July and August. We're like, we're in it, mid summer. That's right.

Sarah Minardi 1:31

That's right.

Andrew Doud 1:32

Um, so let's talk about a couple listings that you have here. Um if we're talking East Hampton Village, you have one that's I mean, really an amazing opportunity and something really unique. The hang on, make sure I get the name right here. The historic mill house in the house.

Sarah Minardi 1:48

Yes, it's the mill house inn and guest house. And so this is located at 31 and 33 North Main Street in East Hampton Village. It's right across from the Hook Mill, the big windmill that you see, the iconic, iconic structure there. And it's it's one of only five historic inns in the village of East Hampton. We have seen some of these inns transfer over the past you know year or two. The Hunting Inn now has new ownership, the Maidstone, which we used to call the Maidstone Arms, the Maidstone Hotel has new ownership and it's really thriving, and and also the Hedges Inn um has gone through new new ownership with the people that own the colony and down at Palm Beach. They've got you know restaurant and just really just a fantastic offering where you've got the mill house just a little bit out of the hustle and bustle, but right there in the village. Uh the the offering is uh 9.5 million for the two the two structures that includes the inn, which is 31 North Main Street, that has um eight rooms in it, and then rooms and suites, and then the back house, which is 33 North Main Street, which has an additional two four-rent room suites, including innkeepers quarters, um staff residents, and uh friends and family suite. So it's got a lot going for it on a little over an acre of property all bundled together. And it's just it's very special. I mean, where we have lots of restaurants in town, this does not have its own food and bev rest restaurant per se. It does have breakfast, which is the gat-rat rated. And yeah, the breakfast is legendary. Legendary, and it's um so they have that for all their guests there, and it's it's just such a special place, just looking for you know the next the next version of itself.

Andrew Doud 3:40

This is a very cool it's I mean, it's a it's a lot of of uh opportunities for the price and the location. I mean, it's a really kind of a special thing that I'm sure I mean doesn't this is not something that comes to market very often.

Sarah Minardi 3:51

No, no, it doesn't. And what's what's interesting about it is the land value is so much that it's almost that you're getting the two parcels for for you know for for land value and and then you get the the bone the bonus of the business which is grandfathered in. So it's it's pre-existing, non-conforming in a historic commercial in a historic residential district, which if you lost that use, you'd never get it again. You know, very, very unique.

Dave Rattiner 4:19

I'm looking at the listing and it it feels reasonable if this was just like a residential house. Yes. This feels like it would be a reasonable price for what you're getting here, right? And but you're looking at this, and this is like a thriving, basically hotel business.

Sarah Minardi 4:34

Exactly. Exactly. So you've got a little over six thousand square feet with the first with the inn at 31 North Main, which you just see it's right up on the sidewalk. But it's it's ext it's um you don't realize how big the property is just by seeing it on the street. It's you it just expands backwards um quite far. And the suites are the biggest ones around in the village for any of the inns. Um they've pride themselves on on having the nicest rooms around and the largest rooms around. And it just it has so much, so much to gain from from new ownership coming in.

Andrew Doud 5:13

That's cool. So that's um that's right there in the village. Uh and then you and I were at this house a little earlier this summer um doing a video there, and and it's like, I mean, the construction quality on this is is outrageous. But 137 Cross Highway to Devon. Yes, yes. Um tell us a little bit about this.

Sarah Minardi 5:31

Sure. 137 Cross Highway to Devon in Amagansett, that is brand new custom build by Bluefin um and our builder Tom Schaub, who Ed Brule and I have worked with for many years, a decade now. Um, this is the 11th home that he has built, and it's done so tastefully in a beautiful location uh between the bay beaches of Alberts Landing and Fresh Pond and Devon on the north side of Amiganset, which has always done well in terms of land value and um and sales, and it's just it's it's ready to go. It's staged, it's it's perfection in in every every which way of the word.

Andrew Doud 6:13

I like this place because you have a very it's very private, yes, quiet area, beautiful backyard. You have this uh this pool, pool house, outdoor entertaining space. Right, they've got the pool pavilion.

Sarah Minardi 6:25

The pool pavilion is is a new is really a new feature that builders have been utilizing where you get this open space but also protection from the sun, along with you know the the the um the water closet and the outdoor shower and the wet bar and the outdoor fireplace and all the colours. All the little amenities, yeah.

Steve Glick 6:46

Lower level, too. That lower level is a little bit more than a lot of people. The lower level is incredible.

Sarah Minardi 6:49

Where the entertaining room and the gym and the theater and the extra bedroom. So it's a total of seven bedrooms, um seven full baths, and also three half baths.

Andrew Doud 6:59

So it's got it's it's everything you need. It's everything.

Sarah Minardi 7:02

It's gorgeous, and it it really blends in with the environment there in Amiganset North so well.

Andrew Doud 7:09

Is that is the furniture included in the price, or is that something that's not the furniture's not included in the price. You walk in there, that's that like that's turnkey. And I think it's beautifully staged. So I guess they could work on that. I mean, you talk about immaculate. Yeah, you like paint the picture for somebody and you walk in, you're like, oh, okay. You know, like if it was me, I'd be like, I just yeah, take it as is, you know, like put a bow on it.

Sarah Minardi 7:38

The big thing about new construction or any, you know, any home in general is just having the ability to for someone who's interested to walk in and sit down and imagine themselves in the spaces. And that's why, especially with new construction, it's so important that the main rooms, at least the main rooms, be staged. I look so so people can sit down and not just rush through. Not everyone has the imagination to put couches here and tables there and beds.

Dave Rattiner 8:07

Or desire to just deal with it. Like, you know, even just my own life. Everything takes time. It's just easier if somebody else has the living room set up for me. I just look at there's companies that do that.

Andrew Doud 8:18

I look at it from a marketing perspective. I mean, I do the the videos and the drones and everything, and like when I walk into a new construction, the ones that are staged and ready to go, I just I think that's if you're uh the owner or the builder or the agent, whatever it is, if you can get them to you know put that whole picture together, it just makes it more marketable, more desirable to the buyer. I think you get you know more return for the price.

Sarah Minardi 8:41

And the thing also about Bluefin and Tom is that when when Ed and I walk in, it's tot it's completely done. He doesn't call on us until he's finished. The property's landscaped, everything is just buttoned up, the punch list, you name it. So it's a a pleasure to work with him. And any home that he has built that's been sold, which of all of them except this one, this is our last one standing at the moment. The owners have always continued to utilize his services, and he's happy to do that. And so it's a it's really a full package.

Andrew Doud 9:17

That's just good business. It means that's a uh a testament to the quality of the construction.

Sarah Minardi 9:21

Exactly, and he's proud of his proud of his work. So it's uh it's wonderful.

Andrew Doud 9:25

Uh we'll get to the big picture on the uh on the market overall, but I just want to touch on this one last uh uh listing that you have 14 Hillside in East Hampton. This is another like different area, but great, great opportunity for a really good price.

Sarah Minardi 9:39

So 14 Hillside Lane is located at the end of a private street right across from Three Mile Harbor itself. So it's just as you're getting into the Springs area of East Hampton, really close shot into the village, to the Bay Beaches. You have water views of the harbor 24-7, 365 days a year. It faces it faces west. You get the sunsets, you have the pool on that side as well. Is it elevated? It's it's the last, yes, it's at a really nice elevation. It's the last property at the end of this street. When you're there, all you hear are the birds. It's really fantastic. And also you have some town-owned reserve on the side, so everything is very well protected. It's set up as a three-bedroom, two and a half bath. There's also an office. The main level is on the upper level with the living and the dining and the primary bedroom. And so you you get the view, you get the views from the top level, you get them from the first floor as well. And there's more that can be done if you wanted to finish the basement, if you wanted to add a fourth bedroom, the septic is big enough for that. This house was custom built um by the current owner in 2017. So and they they picked everything out. They picked everything out specific to them. It's it's bright, it's light, it's beautiful, and shows fantastically. And for the price of $2295, you're not gonna find you know, water views like that at any other price for the construction and the quality. Gorgeous. Perfect.

Dave Rattiner 11:14

This balcony here, this is like the biggest balcony I've ever seen. There's a great house. It's on the second floor here. With the views of the bay. I mean, how do you beat that?

Sarah Minardi 11:23

Right, and it just what was it, two weeks ago? It was the clamshell foundation fireworks, and you could see them right from the top of the so every right around every Best Deal Day, you got a whole fireworks show right over the harbor.

Andrew Doud 11:35

Uh built in. All right, Steve, let's talk uh big picture. What's the market doing?

Steve Glick 11:40

All right, so this past week, 18 listings went into contract from West Hampton to Montauk last year. There were 28, so it's a decrease of 36%. Two years ago it was 17 listings, so a small increase of just six percent. The breakdown of the 18 transactions this week, three between five and ten million, five between three and five million, two between two and three million, four between one and two million, and four under a million. Dollar volume was fifty-two million this week, last year it was eighty-two million. That's a decrease of thirty-seven percent. And two years ago, the dollar volume was fifty-four million, so a decrease there of just four percent. So it's kind of slow week. Uh 18 listings going into contract. That's been um we've been seeing over 20, so this is uh a slower week as we come into the second week of uh July. However, there were 30 new listings that came onto the market. So with 18 going into contract, that increases the inventory by just 12 listings. So the breakdown of the 30 new listings, there was one over 20 million, two between 10 and 15 million, four between five and ten million, four between three and five million, six between two and three million, eight between one and two million, and five under a million. So good amount of listings in all price categories, especially under a million with five new opportunities coming onto the market. Inventory is at 1959 total listings, 1,550 active and 409 in contract. So another week of 30 plus listings coming onto the market. So we're seeing that every week.

Dave Rattiner 13:06

What's your sense on the market?

Sarah Minardi 13:08

It's definitely picking up. I have seen that a lot of people that are here for July, whether they're visiting, they're renting, they're coming out specifically to see homes if they're if they're serious and they see value. Okay. So it's I I see a good I see a good pickup.

Andrew Doud 13:25

Do you see that there's a lot of like of I guess for lack of a better term, good value on the market? In other words, that people are pricing their houses competitively, or is there still some lofty expectations, or it just depends on seller to seller?

Sarah Minardi 13:40

I think it just depends on seller to seller. I I know that anytime I'm giving data to a seller about where they should be pricing their home, I'm I'm looking I'm looking at the comps and it's important because it's important that they understand that because the the buyers are gonna be looking at them as well.

Andrew Doud 13:59

Right.

Sarah Minardi 14:00

So it's um I my my expectation is that sellers try to be as competitive as possible because you can never price a home too low. It the market will always find the price, the right price.

Andrew Doud 14:12

Oh, I like that. That's a that's a nice little okay. I want to transition on that point. Dave, what do you got going on this weekend?

Dave Rattiner 14:18

You know, it's gonna be a really, really nice weekend. There's a lot of nice things to do. Um, just going through it. Um well, we'll start out in West Hampton Beach. Steve is very excited. I can't he's just like foaming at the mouth about this. You want to talk about this?

Steve Glick 14:33

Yeah, we have the West Hampton Beach project going on. This is a free event Friday and Saturday night, July 25th and 26th, starting at 8:30 p.m. at the Great Lawn, West Hampton Beach on Friday night. They have a huge stage set up with chairs. There's a performance as a vocalist, so there's a I guess like it's a singing act and a performance that goes on stage on Friday night. And then Saturday night, they have the Parsons Dance School, um, the ballet Parsons Dance, and they're gonna be performing a beautiful um evening show on Saturday night. So this is a free event. Anyone can come, you bring a lawn chair. If you pay, you can get VIP and actually get uh a seat there, but you can just come bring uh a beach chair set up and enjoy the show.

Andrew Doud 15:15

Sounds like our concert's in the park on Wednesday.

Steve Glick 15:16

Yeah, it's sick. This concert this stage is huge. I drove past it last night. I was in town, and it's all set up with all the lights, big stage, and they put it on for free. So you can't go wrong.

Andrew Doud 15:26

I was coming through West Hampton yesterday.

Steve Glick 15:28

Can't go wrong with that one. You can't, man. This is a good one.

Andrew Doud 15:31

Um that uh I came through West Hampton on my way back from Remsenburg yesterday, and like that windmill is done. Yeah, so it's like amazing.

Steve Glick 15:37

So you know you drive by by the circle over there, you'll see the huge new windmill. It's beautiful, it's gorgeous, and then behind that is this huge stage that they set up. So uh it's a fun night. West Hampton Beach would be uh popping Friday and Saturday night. There you go.

Dave Rattiner 15:52

You just made me think of this windmill and watermill and drive by this.

Andrew Doud 15:55

That's coming together.

Dave Rattiner 15:56

They were putting the whole thing taking quite some time. It's like, what is the guy doing like one shingle at a time?

Steve Glick 16:02

Or always fixing it, right?

Dave Rattiner 16:03

It's like unbelievable. It's like he's getting I think he's getting paid by the hour, that guy. Historical things take time. I guess so. That's funny. But windmills, man. Windmills. Windmills are important. You know? Even today, windmills are important. Do I have windmill stuff? No.

Andrew Doud 16:21

No windmill stuff. All right. What else you got?

Dave Rattiner 16:24

I just you know, I didn't even know windmills were like functional. I thought they were there just for like a beauty, you know, when I was a kid. And I learned very much later in life that they actually know that they have windmills offshore to generate power right now. I mean I mean the old-fashioned windmills. I thought that was just the style back then of houses. Like they just had windmills. So I was a C student, I guess. So let's see. Um we have Friday at five, Fridays at five, so Fridays at five o'clock in at the Bridgehampton Library on Main Street. The author, Eleanor Lippman, will be there. And I speak about this every week because Soners Associates sponsors it every week. It's in a beautiful garden setting. The author will be uh standing right in front of the building looking out towards uh the lawn with all of the chairs and tables and all that stuff, and she will speak about her book, and it's a really nice thing to do. There you go. Yeah. That's easy. And it's free. It's not free. It's free, it's sort of free. It's not free. Sort of free. And you can't small donations. It's sort of free that you pay for it. Yeah, exactly.

Steve Glick 17:39

You can't free entertainment after you pay for a free adjacent. You can't go wrong. Yeah. You can't go wrong with this one.

Dave Rattiner 17:46

Okay. Yeah. So then you have, let's see, Sunset Music at Wolfur Vineyards Friday night. Traditional. Oh man, this is so nice on the lawn. Sarah, you know all about this. Wolfur Friday nights at the wine stand. You bring a beach chair. This one's free, right? This, well, you gotta you're expected to buy some wine.

Steve Glick 18:05

Right. All right. You know.

Dave Rattiner 18:07

Expected. It's time to buy it. If you want to be that guy who used to go up and say, Oh, let me just get like a you gotta buy a bottle of water. A bottle of wine. Yeah. A bottle or a bottle of water. You can't just be like, oh, let me get a glass of water and then just sit there.

Steve Glick 18:18

Okay.

Dave Rattiner 18:19

You know. I mean, I guess you could. But it's free to enter. But they would know.

Steve Glick 18:22

But they would know. Yeah.

Dave Rattiner 18:23

It is free to enter, though. And it's oddly very family friendly, even though there's like a lot of alcohol. Yeah. I mean, really, the whole point is to go for the wine. Now that I'm thinking about it. What time is it? It's very family friendly. It's um starts it starts at five, goes until like eight o'clock. And it's a fun. This is a good time. You should do this one. And then if you really want to get fancy in the Hamptons, Polo in the Hamptons is happening. That's happening at 900 Lumber Lane in Bridgehampton. This one's free too. No, I'm just kidding. It's not free. It's not free. That one's not free. That one's not free. Polo's cool though. But it is cool. It's a very cool ticket. You know, you push a button, boom, you get a ticket. It's just like it feels like it's free. Yeah. You know? And so that's this weekend. There's hors d'oeuvres, there's tents, there's free food. You know, it is the it's really like what the Hamptons identity is all in one in one event. Yeah. I would say. You know, polo.

Steve Glick 19:36

Pencil US.

Dave Rattiner 19:36

Yeah. They made a t-shirt out of it. A polo shirt out of it.

unknown 19:39

Yeah.

Dave Rattiner 19:40

Yeah. So there you go. So um, do you want more?

Steve Glick 19:44

Do I want more? Yeah.

Dave Rattiner 19:46

I mean, I'm I didn't think I would I would talk so much about it. I stopped recording about five minutes ago. Okay, good. All right. So let's see. So this is uh an important event in Sag Harbor. You have the Jordans Run Veterans Memorial 5K Run Walk. Um this is in memory of a US Marine that was killed in uh Iraq and is uh his his his dad and they lived in Sag Harbor. Um and so they do this wonderful event every year. Um and it's a really nice thing to do. So that's July 27th at 8 a.m. and you could do the run or the walk. And um you know, then you go get some ice cream.

Sarah Minardi 20:26

That's great. And the weather's looking good this weekend.

Dave Rattiner 20:30

The weather's looking really good. This is this is this is the one. This is the weekend. Because summer's we're going into August, but you can see the end of summer. Don't even don't, please. I'm not ready.

Andrew Doud 20:41

I'm not ready.

Dave Rattiner 20:41

This is the people are gonna really savor this weekend. I can sense it. So if you want to see what else is going on this weekend, go on Hamptons.com and that's it.

Andrew Doud 20:50

Thank you. Nice.

Dave Rattiner 20:51

There you go.

Andrew Doud 20:51

Perfect, Sarah. I know you're busy, but anything else before we let you go?

Sarah Minardi 20:56

Oh gosh, I would just say everybody enjoy and get to the beach as much as you can. I have to remind myself that daily. I'd really try to get in a beach walk or whatever, whatever I can do, and it's just it's just getting out there and just enjoying where we live because we live in such a special place.

Dave Rattiner 21:12

That's good advice.

Andrew Doud 21:13

Oh, wait, a restaurant. She Easton's got a lot of restaurants.

Sarah Minardi 21:16

Oh, you want me to talk about a couple restaurants? Yeah, what's your favorite? Your favorite one. Okay, so recently um my husband and I went to Lucky's Steakhouse, which is the new one where Cove Hollow Tavern was. It was Cafe Max Forever and Cove Hollow Tavern. Was it awesome? So delicious. I highly recommend it. Lucky's and um just don't eat, don't fill up on the bread. We went to the we went there hungry and we filled up on bread and we weren't able to finish our steak, but it was it was delicious. Crazy pizza is a lot of fun. I gotta get the pizza. Interestingly enough, you cannot it's adult only Thursday, Friday, Saturday. Really? You have to be 21 and old. Adult only. Sounds crazy. It's crazy. I was calling it schizophrenica pizza. Why uh but that's a what happens? That's a lot of plus. They they I don't know, nightcluby. It's got like a nightclub.

Dave Rattiner 22:10

Do people dance that people get up and dance from their ticket?

Sarah Minardi 22:13

But the ceilings are a little bit low in that in that. But you've been there. Yes, a few times.

Dave Rattiner 22:17

So when you go and sit down, you you eat your pizza and then it's just like a lot of loud music and people are very loud music.

Sarah Minardi 22:22

Out inside, outside. It's a lot of fun.

Dave Rattiner 22:25

How's the pizza?

Andrew Doud 22:26

Sounds funny.

Sarah Minardi 22:26

Pizza's good. Pizza's the desserts are where it's at, though.

Andrew Doud 22:29

Pizza the food or the atmosphere?

Sarah Minardi 22:31

You have to a little bit of both. Um save room for the desserts because they are just there where you need what where you want to put your calories. That's my my my opinion. And then um crazy pizza.

Dave Rattiner 22:43

Well, Swifties is really beautiful. I like how you're traveling like down the block.

Sarah Minardi 22:47

Swifties at the hedges is um a whole experience. I mean, you're you feel like you're you're part of a select club over there. So if you can get over to Swifties and check that scene out, that's that's really something special. Cool. Yeah.

Andrew Doud 23:01

Yeah. Right on. Yeah.

Sarah Minardi 23:03

Yeah.

Dave Rattiner 23:04

That's what's happened in the Hamptons, I guess.

Andrew Doud 23:06

That's oh my gosh, you steal a lot of thunder, man. Sarah, thanks for joining us. We'll have you back on soon. Have a great weekend. I'm Andrew Dowd, and that is what's happening in the Hamptons. Have a great weekend, everyone.