The two new large-scale condo developments that debuted this year—Bishops Pond in Southampton and Watchcase in Sag Harbor—are selling well. There clearly is a real demand for luxury vacation condos with concierge services in the Hamptons. And while some of the condos are quite pricey, such as the $5-7M Watchcase penthouses, the luxurious finishes at these new developments would cost way more in a standalone home.
According to Bishops Pond developer Steven Dubb of the Beechwood Organization: "Buyer interest has been exceptional and continues for all we have done and still plan to do at Bishops Pond. We had an idea to build extremely high quality homes, but do it in a maintenance-free way so that our discerning buyers could live worry free in a condominium setting. People have responded incredibly well to the idea, and we've been overwhelmed by how robust sales have been." The 40 units in the first phase of construction sold out months ago. The second phase, costing between $1.5 million and $3 million, is already 70 percent sold in two weeks.
· Condomania [EH Star]
· Bishops Pond [Official Site]
· Watchcase [Official Site]