Andrew Doud 0:08

All right, everyone, it's Thursday. I'm Andrew Dow. Time for a Happening in the Hamptons podcast, our weekly breakdown of the Hamptons market, new listings and events on the East End. We are sponsored by New York Title Abstract, the Hamptons leading title insurance firm. Visit NewYorkTitle.com. Steve Glick is off today. So in his place, we have Mr. David Andrews, Dave Retiner, and joining us while he is out and about the hardest working broker in the Hamptons, Mr. Vincent Horcasitas. How are you, sir?

Vince Horcasitas 0:35

I'm doing great. Very excited about being here again today. And I think we have a lot of really good things to talk about. And um, I think we're gonna start with some rentals.

Andrew Doud 0:45

Yeah, we're already in the spring, so if you don't have your rental, like get on it because you guys have a lot of them and you are busy with them. So what's going on in the rental market?

Dave Rattiner 0:53

Yeah, has it been busy? Is it a busy rental season or or you know people coming out trying to get it get it lined up for the for the spring?

Vince Horcasitas 1:02

I would say it's probably the busiest rental season I've had. I've been been an agent for 25 years. I think we have 30 leases going right now with the team. Um and it or one of one of the one of the premier listings is 18 Sarah's way. We just that that property was just finished. We're asking 1.2 million from Memorial Day to Labor Day. It's two acres, six thousand square foot house. Um has all the bells and whistles going.

Dave Rattiner 1:32

Um that's 1.2 million for the whole summer?

Vince Horcasitas 1:36

So yes, uh, we just received an offer on that particular property, and um, you know, has a guest house on it, it's a sunken tennis court, uh, two pool houses, sits at the end of the cul-de-sact, it's brand new with brand new furniture. Um, and then we're doing like, you know, like I said, 30 other leases all over the place. Uh, you know, there's it's hot and heavy in the rental season. I think that's because of a buildup of the of the winter where we had three or four weeks where just people weren't coming out because there was you know two feet of snow. So pretty excited about it, and um, and the team is doing great, and we're all we're all working really hard.

Dave Rattiner 2:14

So that the the snow over the I mean it was it was one of the most brutal, brutal winters ever. So now that the the snow is ending, are people so there's is the the demand pent up? Are people coming out here because they're just they've had it and they can't wait for the summer to start kind of thing?

Vince Horcasitas 2:31

Well, I think it's time. I mean, we're here we are, we're in April, and you know, people don't want to be in New York and the tri-state area. People are coming out here. It's a destination. You know, I think this is probably one of the second, third, fourth home markets in the country. So, you know, everybody comes out here for July and August or some part of the summer.

David Andrews 2:50

Smart renters also know if they're looking, somebody else is looking. And now is the time when when if you want to get a good house for the summer, you gotta start looking.

Andrew Doud 2:59

Yeah. That's a good that's a good point. Um all right. So let's so let's talk a little bit about sales too, Vince, because I know you have you have a lot of really great listings. Is there any ones that you want to highlight right now?

Vince Horcasitas 3:12

Yeah, there's a few actually. Um 148 Middle Line Highway. Uh we have an open house there on Saturday from 2 to 4. Uh this is a you know 8,500 square foot house, um, has all the bells and whistles again. You have five bedrooms on the second floor. Um you have one on the first floor, you have a primary on the first and second floor. It's on middle line highway, but it's a flag lot off of it. It accommodates tennis, has a finished lower level with a couple more bedrooms down there, infinity pool, spa, asking $7.5 million for it. Um really amazing construction, really the yield there when you walk in at the volume. You have 11-foot ceilings, eight-foot doors throughout, really top-notch. Um 25-foot foyer with the the you know when you come into the four the the ceiling kind of is like 25 feet high. It really has a a great feel, and the volume in the house is spectacular.

Dave Rattiner 4:16

That's amazing. Um he's also got 88 Rose Way. I wanted I wanted to talk about that one. Can you bring up 88 Rose Way?

Vince Horcasitas 4:24

Yeah, so 88 Rose Way is is available for June for rent and also for August through Labor Day for rent. It's on the market for 19,250, 13,000 square foot house, three levels, cast construction, um, so it's marble, marble floors, glass, uh, you know, just a ton of volume going in, palino construction. Um there's so many things to talk about. It's a prep kitchen. Each floor is around 4,000 square feet. You have a primary on the first floor, you have nine bedrooms and ten baths on the second floor with the primary on the top floor. You have a rooftop deck that you see the Atlantic Ocean.

Dave Rattiner 5:14

Uh huh.

Vince Horcasitas 5:15

Uh Meacox Bay. Uh Sam's Creek is there as well. It's uh, you know, you can hear the ocean from there. It's probably as the crow flies, it's about 10 houses from the beach. It's available again as for rent and for sale. Um it's one of the sleepers in there. It sits at the end of the cul-de-sac on Roseway, which is down off of Jobs Lane. Um very special.

Dave Rattiner 5:37

And it has an unbelievable rental history, right?

Vince Horcasitas 5:40

Uh, we get 900 to a million dollars every year in rent.

Dave Rattiner 5:43

That's just so that's that's amazing. What about what about what about like a little less expensive? Like, well, you know, I look at this house, uh, 28 lighthouse in Sag Harbor, and it I mean, that's one of my favorite towns. And you know, I I went to that open house the other day. That house is awesome. That house is great.

Vince Horcasitas 6:01

Yeah, Osprey Dev Corp is the builder there. Uh Jeff Sharon, he's done a great job on that. Um, that's that's finished, ready for the summer. you know, 4,000 square feet, new construction, tastefully done. Uh three bedrooms on the second floor with the primary, um, has a bedroom on the first floor and has an additional bedroom, uh, two bedrooms on the lower level. So it's a six-bedroom, five-bath, one half bath with a detached garage pool in the village of Sag Harbor, 4,250,000. Um, and we've already had some offers on that. Uh right now we're currently it's available, it's finished, it's being staged as we speak. Really, a really very, very, uh, very nice property as well.

David Andrews 6:48

That level of value in in the village is not common. That's that's an impressive property to be in the village, ready to go. Yeah, brand new.

Dave Rattiner 6:59

Yeah, that's sick.

Vince Horcasitas 7:00

Yeah, talking about impressive properties, I'd like to talk about 73 Jericho. Uh 73 Jericho is on the market for 13.5. It's new construction from Connor Development. Um, it's on a full acre, it's uh south of the highway in the village of East Hampton. Uh just finished, just staged. Uh if you haven't seen it, take a look at it online. Um, has a primary up on the second floor with a sitting room, a balcony off it, walk-in closets, his and hers, um, double vanity in there, soaking tub, shower, water closet. Pretty much has everything. The the primary is is you know, massive, uh, massive amount of square footage up there. Uh has three other additional ensuite bedrooms on the second floor with the laundry room. Um just really tastefully done when you look at the colors on the property and what they did there. It's really downstairs. You have another two bedrooms, you have a gym. Pretty much has has has it all on there. Um and and that's available as well and just finished. So some really good product that we have on the market right now for for sale.

Andrew Doud 8:11

Um that's that is a great house. Um yeah, really, really beautiful place. Um spot in the Hamptons, beautiful house, great build. Um, let's talk big picture though, Dave. Uh Dave's gonna be filling in for Steve today. So your time to shine. You're on. What do we got going on?

Dave Rattiner 8:27

So last week, over the past week, there were 25 listings that went into contract from West Hampton to Montauk. Compared to this same week last year, there were 21 listings that went into contract, which is a year over year. Increase of 19%. The same week in 2024, there were 29 listings that went into contract. Compared to this past week, it's a decrease of 14%. The breakdown of these 25 transactions, one over 20 million, one between 10 and 15 million, five between five and ten million, two between three and five million, two between two and three million, eleven between one and two million, and three under a million. Over the past week, the dollar volume was 101 million. Compared to the same week last year, the dollar volume was sixty-seven million. Just sixty-seven million last year. That is a year-over-year increase of fifty-one percent. This same week in twenty twenty-four, uh, the dollar volume was ninety-two million. Compared to this past week, it's an increase of ten percent. Uh this week that so the inventory is is the besides that number, the interest inventory number is very interesting. This past week there were 33 new listings coming onto the contract coming onto the market with 25 listings going into contract. This increases the inventory by eight listings. The breakdown of these 33 new listings is one between 15 and 20, 2 between 10 and 15 million, four between five and ten million, eight between three and five million, eight between two and three million, seven between one and two million, and three under one million. Um and last week there were thirty-eight new listings last week. So inventory is coming on on the market, Vince. Uh what yeah, what do you think about that?

Vince Horcasitas 10:14

It's it's kind of interesting. I've seen where I think if we're gonna see a big change in the higher end market, which in the last six weeks, partly because of the slow snow and and the weather, it seems like you know, this week we had one property go into contract over 20 million, and one property go into contract between 10 and 15. And if you look really at the last five weeks, there hasn't been anything over 20 million that's gone into contract. I think there was one ocean front actually last week that went into contract that was asked in 60. But other than that, there hasn't been any properties over 20 million in like the last six weeks. There's been like four or five over 10 million. Um, so that to me is kind of a you know a buildup of of the new construction, not necessarily new construction, but properties that I think it's gonna start to pop with the high end. The fish aren't out here right now, they're coming though.

Dave Rattiner 11:12

Yeah, you can sense it, the demand, demand, the demand, you can definitely sense it.

Andrew Doud 11:15

I like the analogy. Uh all right, so filling in for Dave is David. Brother Dave, yeah. All right, so we're gonna talk a little bit about what's going on this weekend. Uh Vince, I know you got some open houses that Mr. Andrews is gonna talk about, but what else you got for us? You're the insider.

David Andrews 11:32

Yeah. You're the know. I I am I am plugged into the Hamptons.com world, so we've got all the all the best places to go and things to do. And, you know, I think on Saturday, I'm excited to let you all know that the LVIS Easter egg hunt is back Saturday, March 28th, from 11 a.m. till 12 p.m.

Andrew Doud 11:56

You gotta love a good Easter egg hunt. Well season.

David Andrews 11:59

They say that they they bury thousands of eggs around there. So even if you have got your your head in the clouds, you'll be able to get something. All right. Just a quick note about the Ladies Village Improvement Society. When you're in the village next time, East Hampton Village, look around and you'll notice there are no power lines. And that's because the Ladies' Village Improvement Society, hunt over a hundred years ago, said that the power companies were not going to obstruct the beautiful views of these ancient trees and our village. So next time you're there, you'll notice it's a big thing.

Dave Rattiner 12:32

They improve the village.

David Andrews 12:34

There you go. You will not have to hunt nearly as hard for an Easter egg as you will as you well excuse me, let me get it back. You don't have to hunt for to find an open house for the Vince Orchestis team. You know, come on. I'm not Steve Glick, I'm not as funny as well. That was pretty good, though. You won't have to hunt transition. From what I can see, Vince, you've got at least six open houses. Saunders has at least 19 exclusive open houses this summer or this weekend. So while you're out here doing events, make sure you pop over and see some some great listings. Um, right across the street from Vince, what were you saying?

Vince Horcasitas 13:10

Yeah, I was just saying that, you know, I'd like, you know, it's like a service that we like to bring to to our clients that list the properties with us. We work very hard. You know, we usually have six to ten open houses every single weekend. This weekend we have three new constructions, four new constructions that are open houses that are out there. Seven Lee Lane is on the is an open house from 11 to 1 on Saturday, um, and on Sunday as well. Jericho's on we have three open houses Friday, Saturday, and Sunday for 73 Jericho. Middle line highway, I discussed from 2 to 4 on Saturday, 88 Roseway, 10 to 12 on Saturday. Uh 16 Elijah's Path, 230 to 4 on Saturday. Um, so anyway, come on out if you haven't seen any of these houses. Uh if you're an agent and you haven't seen them, come out and take a look at them. Great properties. Awesome.

David Andrews 14:06

If you're wondering what hardest broker, what hardest working broker in the Hampton looks like, it looks like six to eight open houses every weekend. Yeah. That's in action. Um right across the street from the from LVIS in East Hampton Village, Guild Hall is having their weekly fam, their monthly family day. Great workshop. That starts at one, goes till two. So if you're looking to have some time with the family out in the village, you've got LVIS and Guild Hall right across the street. Um in the evening, I've got two options for you. If you're more of a poet, we've got the New York poet Philip Schultz is at the church from 6 to 7:30. He is going to be doing a poetry workshop and reading. But if you take your verse with a backing band, we've got a live journey cover band just down the street in Sag Harbor Village. So, you know, if you've got a split family, one who loves to rock and one who loves to read poetry, you know, opposites attract. That Sag Harbor's got you covered. Well done. Cool. Great.

Andrew Doud 15:07

So that's the weekend, huh?

David Andrews 15:09

That's the weekend? Yeah, that's the weekend. They say you gotta say, you gotta say it. Oh, all right. Is that my sign-up? Say that's what's happening in the Hamptons. I'm David Andrews, and that's what's happening in the Hamptons. Good job. What a guy.

Andrew Doud 15:22

He's coming from my job. And so I don't know what to do about that. Uh Vince, anything, anything else before we let you go? That's good. I mean, a ton of great stuff going on in your world, um, listings, rentals. You don't stop, but really doesn't. Yeah, one less thing if you want to, if you want, the floor is yours.

Vince Horcasitas 15:39

Yeah, I mean, I would just say we, you know, I I I I haven't talked about 110 Halsey, which is um, you know, a flag lot off of Halsey south of the highway. It's like almost 4.6 acres. Oh, yeah. Tennis. Um you know, it's it's it's like really going into an estate. The house is a 6,000 square foot house, which has been renovated. Uh it backs up to the back of Kellis Pond, very private back there, really like your own oasis, has a a three-car garage, has a has a gym slash office and a pool house as well. Um so and that's you know south of the highway, 4.6 acres, really special. I mean, you have to really go to the property. It feels like you're in a park setting, the trees are 30 to 40 years old all around you. Um there's an open house there this weekend. We're waiting, we're working on the time right now. So stay tuned on that one.

Andrew Doud 16:37

Nice. All right, Vince, thanks for joining us. David, thank you for filling in. Dave Retiner, a pleasure as always. Until next week, as Mr. David Andrews said, that is what's happening in the Hamptons.