Tag Archive | "Property"

House Sells for Excess of $13 Million in Noyac

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Last month Saunders & Associates, one of the Hamptons’ leading real estate firms, announced a Noyac house was sold for above its listing price of $13 million, one of the highest prices for real estate in the hamlet. The house was sold by broker Alan Schnurman as a furnished space.

“This home is absolutely spectacular and so unique to Noyac,” said Mr. Schnurman in a release. “It’s no wonder that this is one of the highest achieved sales in Noyac Bay to date.” The 6,000-square-foot residence, designed by Roger Ferris and Partners, is located on 175 feet of bulkheaded waterfront on the Peconic Bay. The seven-bedroom property and the accompanying guest house face out over water views, and allow for plentiful supplies of natural light.

Saunders & Associates is a growing real estate agency. The firm, which is only four years old,  has a roster of over 125 brokers, and accounted for 43 percent of the $500 million real estate sales in from Southampton to Montauk in the first quarter of 2014. Since its inception, the company has surpassed $1.5 billion in exclusive listings. For more information, visit one of the offices in Southampton Village or Bridgehampton, or the company’s website www.saunders.com.

Corcoran Records Second Quarter Sales Increase

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The Corcoran Group has reported sales increases for the second quarter of 2014 and noted a persistent interest in the East End from buyers of both full-year residences and vacation homes.

On the South Fork, Corcoran reported a total sales increase of 24 percent over the same period a year ago, with 603 properties being sold as opposed to the 487 sold last year. Total sales volume increased 19 percent to $1.046 billion despite a 4-percent decrease in the average sale price and a 3-percent dip in the median price. Individually, East Quogue and Sag Harbor were the strongest performers, with respective sales increases of 56 percent and 44 percent.

The North Fork reported greater increases with closed sales rising by 50 percent, with 120 properties exchanging hands as compared to 80 in the second quarter of 2013. Sales volume boomed, increasing by 102 percent, while the average sale price rose by 35 percent, and median sale prices increased by 1 percent. Southold was the most prolific area on the North Fork, seeing a 100 percent increase in sales from last year.

Elsewhere, inventory saw a decline of 15 percent, to 6,862 units, the lowest level in five years. This continues a troubling trend, as demand continues to outpace supply throughout the East End.