mike olson | July 7, 2014 | Home & Real Estate
As the Hamptons becomes more of a family destination, Corcoran’s Susan Breitenbach sees the popularity of multifamily properties.
Ultimately, it’s the dream of every buyer for multiple generations to call the same slice of the East End home. No wonder Corcoran associate real estate broker Susan Breitenbach continues to see one particular trend in today’s white-hot market. “I’ve never had so many people ask for compounds,” she says. “A lot of people buying today have kids who are having kids, so they want more space for a family retreat.”
Wanting a compound is one thing, but a lack of inventory puts such spots at a particular premium. “You can’t really build a guest house on a property anymore,” adds Breitenbach, who points to the myriad zoning ordinances in certain areas, chiefly Sagaponack, that prohibit such construction. That means it’s the preexisting compounds—such as Breitenbach’s listing on Egypt Lane in East Hampton, which comes with a cozy, two-bedroom guest cottage—that draw the most interest. Still, every so often a new construction comes along that redefines what a compound can be.
Breitenbach is selling one such estate on Ocean Road in Bridgehampton, a 17-acre site that already sports one 7,000-square-foot home with a separate 2.1-acre lot next door, waiting for a home double that size. Should the buyer choose to build, the result will be two neighboring homes that share a tennis court, pool, and pool house. Naturally, those who have shown early interest have done so with extended family in mind, and Breitenbach can understand the appeal of having visiting friends or family close—but not too close. “After a few days, it’s nice to have them in that house next door,” she laughs. 1936 Montauk Hwy., Bridgehampton, 875-6000
PHOTOGRAPHY BY DEAD ON DESIGN
June 16, 2017