WHEN I FIRST MOVED OUT TO SPRINGS in May of ’09, I had to revise upward my blog’s definition of “affordable real estate,” from 500 to 600K. Otherwise, I’d have had little to write about in the Hamptons, which has a deserved reputation for inflated prices, even on the meanest shacks.
Had a reputation. Three years hence, I’ve noticed, there’s plenty on the market for 500K. Even 400K. Maybe less.
The real-estate site Curbed Hamptons, once obsessed strictly with multi-million dollar properties, has noticed this too, and they’ve been doing a little bottom fishing. They’ve recently launched a new department called Under 500K. Real estate for the rest of us, in other words — part of an effort, as they put it, to “strike a balance between fantasy and reality.”
The latest post under the new slug features two houses in Springs — one a nothing house but near the water, the other further inland but more than decent.
Listing: 11 Gardiners Cove Road, Springs [above and top]
Bedrooms/Bathrooms/Sq. Ft.: 2/1/700
Located next to a 26-acre nature preserve and just 100 yards from the water, this cottage may be on the small side, but boasts a rather large .72 acre parcel of privacy-loving property. Newly renovated, it features a cleared lawn, outdoor shower, and what looks to be a pretty decent kitchen. It first hit the market in November of 2011 for $469K, but just experienced its first pricechop yesterday.
Listing: 30 Fifth Street, Springs [above]
Bedrooms/Bathrooms/Sq. Ft.: 3/2.5/1600
Weighing in with more than double the square footage—but a third of the acreage—is this 3-bedroom a little further down the road. The home features an open floor plan, granite kitchen, central A/C and a pretty handsome deck that seems to complement the landscaping quite nicely. You’ll also find a “separate master wing with vaulted ceiling and large ensuite bath.”
Curbed Hamptons, being cute, posits this as a “deathmatch,” asking readers to vote on which they prefer. Me, I think they’re worthy opponents.
To read the whole of the original post, go here.