The July issue of Hamptons Cottages & Gardens has hit the streets, and this month's Deeds & Don'ts feature includes a few items of note. A functioning Page Six of the Hamptons real estate set, the column never fails to peak our interest. As always, feel free to send any juicy news our way, we love a good slow market story.
· The End of an Era: Apparently, discretion is key to a sale these days. Nothing says out-of-touch like buying a giant house in a recession. "In a recent mega-sale in East Hampton...the buyer requested that all information regarding his purchase be under seal. Brokers were asked to delete the listing from their systems as though it never existed."
· Madoff's Massacre: Even from jail, Bernie Madoff continues his stronghold on the Hamptons market. "...speculation is rampant as to the number of homes currently for sale in the Hamptons as a result of his Ponzi scheme. Best guess is about five, including, we assume, Madoff's own Montauk abode. Palm Beachers fared worse."
· Career Change: As more and more homes sell to the old guard (the 60+ millionaire set), 30-something Wall Streeters are resorting to other careers. "Some, in fact, are shucking their MBAs and Wharton degrees and going green—either raising heritage chickens in the sticks or writing action novels in search of Dutch silver, if those windmill-dotted properties are now out of reach."
· Rental Records: Corcoran's Susan Breitenbach, a major player in the East End market, has this on her resume. "Although you won't hear it from her, Breitenbach is rumored to be the broker behind this summer's top rental, the Sagaponack home of Joanne Corzine, ex-wife of the New Jersey Governor, which went for an impressive $900,000."
· Farrell's New Deal: Joe "I don't want to sell anymore $12 million houses" Farrell is taking a step back from his 'Sandcastle' priced spreads. "Farrell's expecting to sell one on Bailey Road in Southampton Village mid-build for $2.999; he would have priced it at $4.3 last year, he says. Another on Bridge Lane in Bridgehampton will be priced at $4.95."
· Deeds & Dont's [HC&G]