8-FIGURE SALES OCCURRING IN A RECORD YEAR...2005!
The all-stars of pricey properties (here in the Hamptons) are, for the most part, concentrated in South of the Highway locations...running from Southampton to East Hampton. This Transfer Report references a number of these properties...each with a price tag in excess of $10,000,000...and all were sold and closed in 2005...a notable year for mega-sales! The numbers may appear to be telephone-number-esque (to some of us), but the very real, established value and the inherent equity in the majority of these addresses, goes far beyond a visceral buy (on the part of the purchaser.) All, needless to say, are one-of-a-kind real estate acquisitions. Some are oceanfront or waterfront properties. A couple of them include very large parcels of land. The one common denominator that each and every one of these big-ticket investments share is that each has successfully met (and/or exceeded) the basic Laws of Supply & Demand. The bottom line is that many of these expensive properties were extraordinarily good buys...with unique features and irreplaceable qualities that value them in excess of their purchase price.
Sold @ $10,300,000 530 First Neck Lane, Southampton
Parcel = 2.2 Acres