In East Hampton Town’s villages and hamlets, yes, sales are down, but it’s because the inventory of available properties is at a historic low, brokers here are saying. "Our prices have not dropped off a cliff — we just don’t have any houses to sell.”
Business
Carissa’s Lot Merger Hits a ‘Sanitary Flow Dam’Don’t call it an expansion, but Carissa’s Bakery at 221 Pantigo Road in East Hampton needs a little more elbow room — and parking.
Recorded Deeds, March 16, 2023Mar 17, 2023
AMAGANSETT
Itai Lemberger to Jason Goldklang, 66 Pepperidge Lane, Aug. 12, $2,475,000.
177 Amagansett Main Street L.L.C. to ROP Amagansett L.L.C., 177 Main Street (commercial), Jan. 17, $4,450,000.
Recorded Deeds, March 16, 2023Mar 17, 2023
The latest reported property transfers, from Montauk to Southampton.
East Hampton Businesses Hit Hard by Freak Flood“We pretty much lost everything,” said Geary Gubbins, whose sporting goods shop, Gubbins, was one of several East Hampton Village businesses that experienced major losses this week when their basements were flooded on Sunday. "The water was up to the ceiling."
Water Line Break Causes Major Flooding at East Hampton Village BusinessesA break in a water line discovered Sunday morning in East Hampton Village caused major flooding at a number of downtown businesses, including Tutto Caffe, Bonne Nuit, Valentino, and Gubbins. Efforts to pump out basements were stalled for nearly eight hours as PSEG struggled to shut down power to affected areas.
Amagansett Main Street Is in FluxLacking the kind of synergy between restaurants and retail that might draw more off-season shoppers, Amagansett's Main Street on a winter weekday can feel in need of a bit of revival. That will all change when the high season arrives, but what has people talking now is the news last month of the sale of the Main Street Tavern building and how a restaurant in that spot could boost morale on Main Street.
Recorded Deeds 02.16.23Feb 16, 2023
For followers of South Fork real estate action, here’s the latest.
Friends of Bay Street Bow Out of Long Island AvenueThe property on Long Island Avenue in Sag Harbor where Friends of Bay Street had planned to build a new Bay Street Theater is instead being put on the market, The Star learned this week.
C.P.F. Revenue Is DownJan 5, 2023
The latest report from Assemblyman Fred W. Thiele Jr.’s office shows that year-to-year community preservation fund revenues in the five East End towns have fallen more than 17 percent over all.
Barnes & Noble to Open in Bridgehampton CommonsBarnes & Noble announced Thursday that it will open a new bookstore in the Bridgehampton Commons this summer, taking over two storefronts previously occupied by Collette and Collette Annex. It will be the company's first foray into the South Fork bookselling world.
A Boon for the Catering BusinessOff-premises catering companies on the South Fork are welcoming Gov. Kathy Hochul’s signing, on Dec. 20, of legislation to close a loophole that previously restricted them from obtaining liquor licenses. Now, they will be able to apply for permanent catering permits that will ultimately enable them to add liquor, and sales of alcohol in general, to the “approved” list.
Recorded Deeds 12.22.22Dec 22, 2022
The latest reported real estate transactions across the South Fork.
Recorded Deeds 12.15.22Dec 15, 2022
It might be the shortest tally of South Fork real estate transactions ever.
Recorded Deed 12.08.22Dec 8, 2022
Industry watchers, look here for the latest moves in South Fork real estate.
Sail Inn, Another Montauk Icon, Is SoldPraise the mozzarella sticks and pass the pool cue! The Sail Inn in Montauk’s dock area has been sold to the mother-son team of Colleen Croft and Luca Guaitolini, who also own the upscale Upper East Side restaurant Elio’s, but the new owners say they are not planning to go luxe on the longtime locals’ joint on West Lake Drive when it reopens in the spring.
Real Estate Market Cools, Prices Do NotThe surge in housing demand created by Covid and urbanites’ desire to have a safe retreat outside of the city has finally started to cool, according to the most recent report by Town and Country Real Estate. Rising interest rates and the rising cost of renovations due to a tight labor market and inflation are playing a role.