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Licensed Real Estate Salesperson
Tel 631.458.1045 x4360
|March 15, 2016||| Ken Smallwood||Tweet|
MONTAUK, known as the "End" to locals, at the eastern tip of Long Island's South Fork is approximately 120 miles from Manhattan. This is the last Hamptons enclave before you need to start swimming "across the pond". Inhabited by Native Americans for thousands of years, the Montauketts of Montauk were a peaceful tribe who hunted, fished and farmed the land, keeping cattle and sheep.
In modern times professional fishermen were among the first to settle - Montauk is home to the largest commercial and recreational fishing fleet in New York State. Then came the surfers, followed by celebrities who were looking for the anti-Hamptons. Early adopters included Andy Warhol and Dick Cavett. As Montauk became hipper others followed incuding Paul Simon, Ralph Lauren Robert De Niro and even the infamous Berine Madoff.
Today, Montauk is the cool place to be and be seen. New clubs and restaurants populate the scene. Relax at Gurney's Montauk Resort & Seawater Spa, spend a weekend at The Surf Lodge hotel offering beautiful views of Fort Pond and the beautiful people or dine at Swallow's East - a stylish restaurant on the docks.
The Montauk real estate market once a bargain when compared to other Hamptons towns and villages is now not. Andy Warhol who purchased his spread in the 1970s for around $250,000 sold last year for $50 million. According to my 2015 Montauk Price Trend Report the average sales price for a Montauk home last year was$2,227,592. The average home was approximately 2,200 sq. ft. had 3 beds, 2.5 baths on an acre of land. Approximately 74 homes transacted in 2015 after spending 484 days on the market (source OREX). Because the market has been hot, owners have pushed their asking prices causing homes to sit on the market longer than necessary. (Ken's number one real estate tip - "List your home to sell not sell your home to list.) These numbers do not include the many condo opportunities in Montauk. With prices starting in the mid-twos, a condo can be a great way to getting a toe-hold in the Hamptons real estate market. However, expect to pay high maintenance and rental management fees.
Please email me if you want a free copy of my Montauk 2015 Price Trend Report or any information pertaining to buying, selling or renting in the Hamptons: firstname.lastname@example.org
So, if you want hang with the in-crowd at the "End", you need to know theses fun Montauk facts:
Kenneth Smallwood is a Licensed Real Estate Agent with Nest Seekers International. His specialty is luxury residential real estate in the Hamptons and New York City. Phone: 917-797-9201
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