Julianne Moore puts her Montauk home on the market for $2.85 million

Actress Julianne Moore has put her adorable Montauk cottage, right on Fort Pond, on the market. Again. Five years ago her asking price for the 0.69-acre spread was $3.5 million, which seemed overpriced; now, in the ridiculously hot Hamptons market, the ask is $2.85 million, much more reasonable.

Yes, the place is small, with three bedrooms and just one bath, but it’s really extremely charming. (Click through to the links to see the pictures.) It’s all done in very good, low-key taste, with a scraped barnwood floors and a small clawfoot tub in the bath. Celebrities will appreciate the complete privacy the spot offers, although everyone will like the saltwater gunite pool and the pool house. And who wouldn’t want to paddleboard or kayak from their back yard? We wouldn’t be surprised if this place flew off the market quickly.

After 7 years and $21 million cut from the price, this oceanfront property finally sold

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This is a very lovely house–8,000 square feet of living space, 8 bedrooms, 9.5 bathrooms, five fireplaces. The property is oceanfront, with three acres, pool, pool house, tennis court, and a cute little bungalow by the beach to store your boogie boards or to house your teenagers for the weekend.

It came onto the market back in the summer of 2013, asking $45 million. Which was a stretch then, but the price has been cut over and over since. So why did it take seven years to sell? Here’s the property from Bing Maps:

That’s correct: the property is right next to the busy Two Mile Hollow beach parking lot. The plot is long and narrow, so while it offers all the nice extras people want, there isn’t very much empty usable space outside. Plus, there’s isn’t that much ocean view from the house, or so it seems.

But as we know, everything will sell if the price gets low enough and this finally did (probably the pandemic helped): it closed a few weeks ago for $24 million to an LLC. So everyone’s happy, right?

Probably not. The developer paid $15.450 million for the property (with teardown) in January of 2007. 8,000 square feet at $700/sq ft = $5.6 million; add another $1.5 million for pool and site work. Say another $1 million for the broker’s commission. So the developer is all in for $23.55 million. Now, the property has been for rent for the past few summers, so that would help with maintenance costs. Still–we think the developer took a bath.

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Congrats to the new owners, congrats to Susan Breitenbach and Cutter Koster at Corcoran who got the place sold, and commiseration to the developer.

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Which adorable $1 million Southampton cottage will you choose?

While perusing local listings, we happened to notice three smallish houses for sale in Southampton, all a smidge over $1 million. They’re all very different; with $1 million in your pocket and after a Southampton place, which would you choose?

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This charming 1920s place at 25 Little Fresh Pond Road might be our favorite–we’re a sucker for the rounded portico over the entry. Inside, the vintage charm is still evident while the interiors are bang up to date. Asking $1.1 million, the property includes the house, 0.23 of an acre of land, and a “generous 1,200 sq ft vaulted sky-lit pre-existing non-conforming garage structure is equipped with heated floors, running water, air and forced heat.”

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At 179 Elm Street in the village, you’ll find this property asking $1.05 million. However, the property is being auctioned off online with bidding to commence on September 6, so a buyer may be able to snap up a bargain. The listing says the 1920 1604-square-foot house on 0.17 acre has “potential,” which means, yeah, a buyer would want to refresh that kitchen! We’ll be interested to see what this sells for and what the buyer does with it.

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Also probably built around 1920 is this cottage at 21 Old Town Road asking $1.05 million. It is pretty charming but also could use some updating. There are two bedrooms and one bath in about 1300 square feet, set on a fairly generous 0.26 acre parcel. Not enough space? There’s also a separate cottage (though it looks attached) with more living space.

Which place floats your boat? Let us know in the comments.

Adrien Arpel sells her Meadow Lane house after 2 years

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When cosmetics mogul Adrien Arpel put her Meadow Lane property on the market two years ago for $38 million, we were a little skeptical. Yes, the property is spectacular, with 9.75 acres spanning from the ocean to the bay, but the house, not so much. We just weren’t crazy about it and we didn’t think anyone else would be either. It looked like it belonged in Palm Beach, not Southampton.

Well, we guess we were right. The property has finally traded, for a price “above $20 million.” In other words, at a steep discount. Well done to Mark Baron of Saunders for the sale. And just to prove there’s a lid to every pot, Baron reports “The buyer appreciates the Mediterranean style and grandeur of the home.” He or she got a bargain.

As for Arpel, she says, “Mark Baron is the ultimate real estate agent. He handled this sale with the greatest professionalism I have ever experienced in this industry. I would recommend him to anyone buying or selling properties in the Hamptons.” Congrats to all.

 

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Broker Babble, Deciphered

Real estate brokers tend to use the same terms when they write property listings; here’s what they really mean.

Bring your toothbrush: Bring your architect

Bring your architect: Bring your bulldozer

Distant ocean view: Stand on a kitchen chair, squint really hard and maybe some blue will appear

Priced to sell: Has been on the market for four years now

Zen: Buddhas, bamboo, bonsai

Old world elegance: Tacky AF

European styling: Tony and Carmela’s summer place

Elegant: Welcome to Massapequa

Gourmet kitchen: Has a stove, fridge, and sink

Chef’s kitchen: Has a stove, fridge, sink, and dishwasher

Opportunity: Grandma croaked

Postmodern: Looks like a bank; just add bulletproof glass

Stark modern: Looks like a correctional facility; just add razor wire

Impeccable modern: Looks like a Melville dentist’s office; just add 110 traffic

So much potential: Godawful right now, semi-godawful in the future

Tons of potential: Hope you like the 80s!

East Hampton Village Fringe: Practically in Connecticut

Quaint: Super small

Cozy: Dark as a cave at midnight

Unique: Teardown

True turn-key: Teardown

Charming: Teardown

All white is all right in Southampton Village

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Any color is welcome in this Southampton home, as long as it’s white! (Which is technically not a color, but….) It makes for a very elegant house on a compact plot, though. The exterior is just 0.31 acres, but the property includes a spacious (4624 square feet) house, a gunite pool, a garage with French doors to the pool, a shed, and an outdoor shower. The house boasts five bedrooms and six and a half bathrooms. Especially noteworthy are the white marble bathrooms, we think, including a rather spanky walk in master shower. Plenty of place to sit are included, including a private outdoor sitting area off the downstairs master and a balcony off the upstairs master. We love that the fireplace is either gas or woodburning–no need to choose! (One tiny niggle: could people please stop karate-chopping the cushions? It’s getting a little old.)

The property, repped by Michaela Keszler and Paulina Keszler at Elliman, is asking $3.495 million, which we think is quite realistic. Anyone looking for a place in that price range could do far, far worse.

 

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3 properties just closed with a total value of $37.5 million

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The frenzied Hamptons real estate market continues apace. The biggest closing reported this week was 86 Highland Terrace in Bridgehampton, which sold for a cool $17.725 million. Repped by Susan Breitenbach and Cutter Koster at Corcoran, the property flew off the market in record time. It was listed at the beginning of June and closed July 17. The seller was Highterr LLC, while the buyer was called High Terrace LLC (what are the odds??). On 2.15 acres, with a house designed by blog-favorite Steven Gambrel, the property included all the bells and whistles (pool, tennis, and so on), with the distinctly 2020 additions of organic vegetable and cutting gardens, along with bee hives and compost. Well done to all.

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A property that took longer to move was 8 Old Montauk Highway, Montauk, which closed for $8.2 million. Since the last ask for the property, which had been offered for sale for $14.7 million in 2017, was $7.95 million, we’d like to congratulate Chris Coleman of Compass on the deal. Seller was Mickey Drexler’s family trust (yes, of course you remember that when Adam Lindemann purchased Eothen from Drexler, he didn’t buy this farm), while the buyer is art dealer Max Levai. 24 acres of land, plus the two beautiful old horse barns, plus a 5,000 square foot house, is a great deal.

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Another quick sale was over on the bay side of Dune Road in Westhampton Beach. 182 Dune Road also listed in June, selling for $11.45 million in August. Agents are Tim Morabito and Dawn Weiss at Compass. Seller was Tiffany Palagonia and the buyer was an LLC. The house is a rather elegant new build, while the 0.61-acre property sports a dock, pool, lush landscaping, and all-important private deeded ocean access across the street.

Talking about transfers with Christopher Nuzzi of Advantage Title

Property title: it’s kind of the whole point of buying a home! Advantage Title is seeing a huge influx of business. According to Christopher Nuzzi, Executive Vice President, the company’s East End business is up 50% year to date from 2019.  They’ve closed more than $350 million in sales so far this year, and they’re seeing a lot of high-end, estate properties move faster than ever. We chatted with Nuzzi to find out more.

Our readers are sophisticated when it comes to buying and selling property. They know what a title is. Can you enlighten them about some of the things to watch out for when it comes to title?

Now more than ever, we strongly urge buyers and sellers to use a local attorney. They know the land use and zoning code better than anyone else, and that’s critical because of all the issues that can come up, especially if a property goes back many decades and has been transferred a number of times. Since the attorney knows what to look for, they can anticipate and get out in front of issues quickly so there are no surprises; or if there are any surprises, they’re prepared. You as a buyer or seller want to get and stay on top of any zoning related issues, or perhaps issues related to a building permit for things that need to get closed down.

Updated Certificate of Occupancies are common in most transfers. The goal is to get ahead and start filing for the CO with the town as soon as possible. It could also be something specifically related to title. Right now, because of Covid, the county clerk’s office, like all government offices, is operating under limited hours. We may need to get in there since that’s where all this information is located. Now, that will require an additional amount of coordination. These are some of the things we’re focused on.

Basically, we coordinate with buyers, sellers and attorneys on getting things done…doing whatever research is necessary, and starting the process for the updated certificate of occupancy. The fewer problems there are, the fewer unanticipated items we have to tackle, the smoother the transaction will go. Time is always of the essence. We always want to close on time.

When it comes to issues of title, do you find the East End to be more complicated than other areas?

I think it can be. When it comes to title, it could be things like old covenants and restrictions that affect a property… that restrict what you can do or not do with a property. It can be things like easements: whether or not there are easements to water that you’re entitled to if you own a particular piece of property. Buying and selling homes and property out here can be a little different. With regard to land use and zoning use: from the perspective of the land use, there are areas that require updated certificates of occupancy upon the transfer or prior to a transfer, and when you’re dealing with these municipalities, the villages and the towns, you really have to be ahead of it now more than ever.

What are some of the problems that you frequently see with title in the area?

It could be judgments and liens against the property. Title companies right now are limited in terms of access to the public records because of the county’s continued closures or very limited hours of operation. So those are title related issues. It could just be a matter of getting into the county and retrieving all of the documentation needed when you’re forced to schedule a time. They used to be open five days a week from 8:30 to 4:30. Now, at best, you’re going to get scheduled for a couple of hours here or there, and you can’t rely on that five day a week open schedule that used to be available to us. So just in terms of managing time and trying to get things done on the title side, those things that are necessary for a report can be challenging in today’s environment.

Do people try to skimp on this stuff or just kind of ignore it to see if they can get away with things and make the process go faster?

Honestly, some may, some companies may. We don’t. We have a sophisticated clientele here. And their expectation is that we’re going to go back beyond just what is the standard 40-year chain or 40-year search. We’re going to look for those old covenants and restrictions that may affect a property that could go back 100 years. We’re only able to do that with actual access into the county center.

What exactly is your part of the process?

From the title side, our main clients are the attorneys and the buyers. It’s the buyer who buys the title insurance, and it’s typically the attorneys that will recommend the title company. They’ve got relationships with the company. They rely on the information we give them. We work with them through the process to close the transaction. So attorneys are our main clients, but buyers are clients. In my case, I grew up in the area. I’ve worked forever in the area. I know local zoning and some of the local regulations that affect some of these properties. So I’ve expanded out, and I’ll help with some of the zoning and permitting related questions that will come up that can be obstacles to a transaction.

Anything else you want readers to know about related to title?

I think it just it highlights the importance of working with people, and with a company in our case, who know the lay of the land. And I’m always eager or willing to speak with people prior to a transaction or even leading up to the transaction, on the earlier side whenever possible, just to start answering informing them, answering any of their questions, and just to get things moving generally. That’s something that I offer that I think is really helpful to all of our clients.

The issue of timeliness and working with people who understand the nuances, all the time, but especially now—now more than ever—is vitally important.

Do title problems hold up closings very often?

They can. They can be issues like judgments or liens against the properties that need to be resolved. It could be an issue around meandering fences. Out-of-possession issues come up all the time out here where these large properties have fences that are not exactly always on the property line. We deal with that a lot; we have to go out to the property and make determinations as to what’s covered and what’s not…if somebody makes a claim against a neighbor’s property because of a fence that sits inside of that line and alleges use of it over a number of years. We deal with that a lot. And yes, title issues can be obstacles to closing and it’s the job of everybody involved…the attorneys and, of course, the title companies to work through them. That’s where knowing and getting the nuanced side of things and understanding the issues deeply is always important, but now more than ever.

A darling Amagansett south farmhouse for under $3 million

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This place seems like a good deal: south of the highway, with an attractive, good sized shingled farmhouse with pool, for under $3 million? Sold! The house boasts five bedrooms, with four baths and one half bath. There’s plenty of room for everyone with 2747 square feet of space. The main level offers a sitting area, porch, eating area, kitchen and living room. The finished lower level includes a media room, exercise room and an office.

Out back, of course there’s a pretty gunite pool, another porch, and a playhouse. There’s just under a third of an acre of land. Asking price is $2.9 million. We think this one’s a winner; not only because of the price but also because the property is turnkey and ready to move into, with most of the features buyers want in an attractive package.

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What $5 million buys you in the Hamptons now

One thing that characterizes Hamptons real estate is variety. A mansion in one neighborhood might barely qualify as habitable in another. Today, we’re comparing properties for sale all around $5 million.

Sag Harbor

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Asking $5.2 million, 33 Morris Cove Lane is perfect for a boater, offering its own dock. The 2900 square foot house is set on 0.92 of an acre; it’s traditional on the exterior while sleek and modern in the interior. And of course there’s a pool.

Montauk

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In Montauk, you can get oceanfront for just under $5 million at Gurney’s Residences (272 Old Montauk Highway). The 4-bedroom, 3.5-bath unit is surprisingly spacious at 3300 square feet, with 1000 square feet of private exterior space. The ocean views are included in the price.

Shelter Island

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The trad house at 189 Ram Island Drive is spacious at 5500 square feet, with 6 bedrooms and 6.5 bathrooms. Just under $5 million purchases 1.3 acres of land including 227 feet of sandy bay beach; if you’re more of a pool person, of course there’s a large pool. The detached garage includes a legal guest suite with bedroom, kitchen, and bath.

Orient

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The Cedars is an historic soundfront estate located at 825 Stephensons Road. Asking $4.775 million, the house retains its circa 1880 exterior, while having been gutted and turned modern on the interior (we’re not so crazy about the interior). There’s a guesthouse, pool and garage set on 4.7 acres with 470 feet of private sandy beach.

Sagaponack

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This place is a very nice, slick modern with some really sexy features, such as the fireplace and the walls of glass. One issue: the place is not actually in Sagaponack proper. 486 Wainscott Harbor Road boasts a 4500 square foot house set in 1.36 acre of woods and is yours for $5.25 million.