Hamptons Buyers Shift Focus

Introduction to the Trend

In March, a 7-acre estate at 372 and 370 Further Lane in East Hampton kicked off the season with a $70 million sale. It was the kind of deal you’ve come to expect from the massive estates that line the sea. But as prices push ever higher south of the highway, many Hamptons home hunters are eschewing ocean bragging rights for the quiet, tranquil landscapes that drew society here in the first place.

The Rise of North of the Highway

“Oceanfront has become a very limited asset class,” notes Michael Cantwell of Bespoke Real Estate. “There are only a handful of trades a year, so the barrier for entry is extremely high.” That’s why he’s seeing values rise north of the highway in once off-the-radar communities. “People like to have these big, reserve-adjacent farm properties in Watermill North, Bridgehampton North,” he says. “They want these tremendous waterfront properties in North Sea, North Haven and Noyack.”

Properties North of the Highway

He’s currently selling a 6.2-acre “cabin in the woods” at 137 Great Hill Road in North Sea for $8.5 million. It has five bedrooms and four full bathrooms spread over 4,200 square feet. The Great Hill spread sports 4,200 square feet of lusciousness. Courtesy of Bespoke Real Estate
Built in 2013, it was designed by architect Jasmit Singh Rangr with wood-cladding that mirrors the landscape and oodles of boxy, cantilevered daring. It comes with an 80-foot heated gunite infinity pool, an outdoor dining as well as a kitchen area and tennis court.

North Haven and Beyond

In North Haven, 24 On the Bluff — designed by architect William Reese — comes with three stories, a boat mooring and a $19.99 million price tag. Courtesy of Saunders Realty
One of 24 On the Bluff’s five bedrooms. Courtesy of Saunders Realty
Over on the Long Island Sound, a one-of-a-kind estate is on the market at 24 On the Bluff in North Haven, a blob of land that juts out into Noyack Bay (where you catch the ferry to Shelter Island). Built in 2002, it’s a rare architectural masterpiece by William Reese, inspired by modernist design masters such as Tadao Ando and Rudolf Schindler (naturally it was featured in Elle Decor).

Landfall and the Butterfly House

Further east, at the northernmost point of Northwest Harbor in the hidden waterfront enclave of Landfall is another architectural stunner, known as Butterfly House, at 6 Masthead Lane.
In Landfall, on the northern tip of Northwest Harbor, the two-bedroom, midcentury Butterfly House at 6 Masthead Lane is on the market for $2.75 million. Courtesy of Compass Realty
Despite being filled with 1970s flair, the Butterfly House has newly renovated wings. Courtesy of Compass Realty
It’s a midcentury masterpiece modeled on Le Corbusier’s famed roof design (also seen at Marcel Breuer’s Geller house in Lawrence; razed in 2022).

Conclusion

As the Hamptons real estate market continues to evolve, buyers are looking beyond the traditional oceanfront properties for unique and tranquil living experiences. With its lush landscapes, serene atmosphere, and stunning architectural designs, the areas north of the highway are becoming increasingly popular among homebuyers. Whether it’s a “cabin in the woods” or a modernist masterpiece, these properties offer a new perspective on Hamptons living.

FAQs

• Q: What is driving the shift in focus from oceanfront properties to areas north of the highway?
  A: The high prices and limited availability of oceanfront properties, combined with the desire for more tranquil and unique living experiences, are driving this shift.
• Q: What types of properties are available in areas like North Sea, North Haven, and Noyack?
  A: These areas offer a range of properties, including reserve-adjacent farm properties, waterfront properties, and architectural masterpieces with unique designs and amenities.
• Q: What is the price range for properties in these areas?
  A: Prices vary widely, from $2.75 million for a midcentury Butterfly House in Landfall to $19.99 million for a modernist estate in North Haven.
• Q: What amenities can be found in these properties?
  A: Amenities include heated pools, outdoor kitchens, tennis courts, private beaches, and boat moorings, among others.
• Q: Who are the target buyers for these properties?
  A: The target buyers are those looking for unique, tranquil, and high-end living experiences, often with a focus on nature, architecture, and exclusivity.