Montauk: High-End House Sales

A Montauk broker who has sold real estate there for 25 years sees nothing but smooth sailing on the horizon.

Recent sales activity in the hamlet has been concentrated on the high-end market, said Ray Hegner, who thinks the trend will continue.

"I'm waiting for all this money from the current stock market to reach Montauk," he said.

Mr. Hegner said his firm sold two million-dollar houses in Montauk during the past six months.

Death In March

Brokers say summer rentals, from Memorial Day to Labor Day, were "very, very good" earlier this year, and commanded high prices. Rental activity began in January and continued into February, but died in March. Brokers blame the rainy, cold weather for its death.

Houses with views were rented in the $40,000 range; houses with pools, $30,000, and oceanfront homes got up to $43,000. Families have been the most frequent renters, according to Mr. Hegner.

Frank Tuma of the Tuma Agency said he still has a few rentals available. And a lot of land deals. Mr. Tuma's agency handles the Culloden Shores property, among others.

Culloden Shores

Culloden Shores, which consists of 54 lots, is being sold in sections. There are 15 lots in the first section, seven of them classified as waterfront and eight as water views. Sales began at the end of last summer and four have sold to date.

The prices range from $155,000 for a one-acre water view lot to $450,000 for a three-acre lot on the water.

Montauk's house inventory has diminished in recent months. According to the brokers at Sea and Sun and the Tuma Agency, a tremendous amount of sales in the past two years has limited the market.

Brokers agreed land sales are the next trend to watch.

"Because houses were the biggest sellers during the last two years, motivated landowners are now willing to negotiate," Joan Gallop, Mr. Hegner's associate, said. Mr. Hegner added, "We have lots available in every area and on every body of water in Montauk."

Six Vacant Acres

The lowest-priced listing for a piece of vacant land at Sea and Sun Realty is a one-third-acre parcel selling for $75,000.

On the high end of the spectrum is a six-acre, oceanfront, two-parcel lot. The owner will not subdivide. The house is located high on the Montauk bluffs right next door to celebrity neighbors. The selling price? A mere $1.75 million.

Mr. Hegner would not say who the neighbors were, but he did hint that it might be helpful if the buyer liked music. Does anyone hear the sounds of silence in the surf?