{"id":312826,"date":"2021-07-31T01:31:08","date_gmt":"2021-07-30T22:31:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/hamptons-homeowners-buy-second-houses-for-weekend-getaways\/"},"modified":"2021-07-31T01:31:08","modified_gmt":"2021-07-30T22:31:08","slug":"hamptons-homeowners-buy-second-houses-for-weekend-getaways","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/hamptons-homeowners-buy-second-houses-for-weekend-getaways\/","title":{"rendered":"#Hamptons homeowners buy second houses for ‘weekend getaways’"},"content":{"rendered":"

“#Hamptons homeowners buy second houses for ‘weekend getaways’<\/strong>”<\/p>\n

\n

Hamptonites are seeing double.<\/p>\n

Thumbing their noses at one of the most aggressive markets in history, established residents of the Hamptons are buying up additional homes in the East End. <\/p>\n

They\u2019re not looking for a quick flip either. These second home buys are pricey pied-\u00e0-terres that provide a different vibe from a primary Hamptons residence. With the contrasting character of each home, weekending feels like a vacation within a vacation.<\/p>\n

Yorgos Tsibiridis, a real estate agent with Compass, not only sees the trend on the rise \u2014 but is part of it himself. <\/p>\n

\u201cIt happ<\/a>ened to me this year,\u201d he said, referring to his $1.1 million purchase of a second Hamptons retreat.<\/p>\n

For the past six years, Tsibiridis has lived in modern farmhouse outside the village of Sag Harbor on an acre of land that he purchased for $1.2 million. There was just one problem: convenience. A smaller 1850s \u201chistoric house\u201d just 15 minutes away on Main Street was the answer, he said.<\/p>\n

\"Real
Real estate broker Yorgos Tsibiridis and his family split their time between their two Sag Harbor homes, which they bought this year for \u201cconvenience\u201d to the village.<\/figcaption>
Credit: Adam Kane Macchia<\/span><\/figcaption><\/figure>\n

\u201cI wanted to have a place downtown so I can walk everywhere instead of driving,\u201d he said. \u201cI use it to work, stay occasionally and for my kids to walk to the park, which is a block away, after school. I like having both options.\u201d<\/p>\n

Tsibiridis said owning multiple homes in the Hamptons has become trendy in recent years \u2014 but especially this summer.<\/p>\n

\u201cI have people looking for a second place \u2014 they\u2019re all the way in Southampton but have friends in Amagansett or Montauk,\u201d Tsibiridis said. \u201cOne client was looking in Amagansett Dunes \u2014 to have a small cottage by the beach, which is different from their main home.\u00a0They\u2019ll want a cottage in the dunes or a trailer in Montauk.\u201d<\/p>\n

And with rising property values in the area, there\u2019s little downside. \u201cIt\u2019s always a good investment.\u201d<\/p>\n

But scoring one, much less two, Hamptons getaways is no small feat. <\/p>\n

The average price of a Hamptons home rose to $2.4 million in the second quarter of 2021, a\u00a015.6% spike year over year, according to Douglas Elliman data. During the same period, listing inventory plummeted to just 1,081 homes, a staggering 43.3% drop from the same quarter in 2020 \u2014 the third lowest level on record.\u00a0<\/p>\n

Just ask George Holley, 80, and\u00a0Phairot\u00a0Iamnaita, 38, who after three years of living their best Hamptons life snatched up another home mere miles away.<\/p>\n

\"Hamptons
Hamptons couple George Holley and Phairot Iamnaita spent three years fixing up their Sag Harbor home before spontaneously scooping up a second Hamptons property. <\/figcaption>
Doug Kuntz<\/span><\/figcaption><\/figure>\n

The couple, who wed in 2014, bought their first Hamptons property \u2014 a 120-year-old three-story Sag Harbor fixer-upper with views of the harbor within a stone\u2019s throw of the village \u2014 for $700,000 in 2013. They spent the next three years painstakingly renovating their love shack.<\/p>\n

The couple, who own a steel door and sign company in the US and Thailand and travel<\/a> a lot for business, were drawn to the area for the arts, restaurants, and unpretentious vibe. <\/p>\n

\u201cIt\u2019s like a\u00a0sophisticated Greenwich Village,\u201d said Holley, noting that their neighbor just happens to be Billy Joel. \u201cIt doesn\u2019t feel stuffy at all. You can have a cocktail or two and still walk home without having to worry about anything.\u201d<\/p>\n

Then their broker approached the pair with a tantalizing off-market proposition: a dilapidated waterfront property in Southampton with 360-degree water views.<\/p>\n

\u201cI make my way through the brush, and the setting is on a peninsula on 150 feet of waterfront,\u201d said a bewitched Holley. \u201cI said, \u2018This is incredible. What a\u00a0peaceful place it is.’\u201d <\/p>\n

The couple fell in love on the spot, offered $2.5 million in cash and closed within 10 days to avoid a bidding war. They cite a stark contrast between each of the settings, comparing the complete tranquility and solitude in Southampton with the action and arts of Sag Harbor.\u00a0<\/p>\n

The western-facing Southampton home looking over the Great Peconic Bay is the sweet spot for an unobstructed sunset, but that\u2019s not even the coolest feature, said Holley: \u201cWhen the weather gets severe, we go to see the storms and waves come in. Bad weather can be just as exciting and dramatic as a beautiful sunset.\u201d<\/p>\n

In 2012, Holley pleaded guilty to insider trading and was fined $260,000 and sentenced to three years\u2019 probation. He told The Post, \u201cThe judge said there was no criminal intent and I donated $5 million to various causes, and he gave me probation,\u201d which included time in Sag Harbor.<\/p>\n

Friends raised eyebrows over the second property. <\/p>\n

\u201cPeople said, \u2018Oh my goodness, are you going to flip this one?’\u201d said Holley. \u201cWe said, \u2018No! We\u2019re going to enjoy it.’\u201d<\/p>\n

With duplicate sets of everything \u2014 razor, toothbrush, even pj\u2019s \u2014 switching off is easy. \u201cI don\u2019t even have to take an overnight bag,\u201d said Lamnaita. \u201cWe\u2019ve traveled all over the world, but I\u2019ve found there\u2019s no better place than the Hamptons. I couldn\u2019t describe a better lifestyle than the two locations we\u2019re enjoying.\u201d<\/p>\n

Amagansett resident Andy Sabin made a similar move. He bought his primary 7,500-square-foot Hamptons address, right down the block from the beach, in 1978 for $205,000 and has lived there\u00a0full-time since 1991. <\/p>\n

\"Longtime
Longtime Hamptonite Andy Sabin has lived at his 7,500 square-foot Amagansett home for decades, but couldn\u2019t resist a second property he calls his \u201cbuddha house\u201d 10 minutes away. <\/figcaption>
Doug Kuntz<\/span><\/figcaption><\/figure>\n

He became something of a \u201cgentleman farmer\u201d with a working farm on 7.7 acres. Instead of the typical infinity pool or tennis court that studs most Hamptons pads, Sabin boasts four purple martin colonies, 80 chicks, as well as goats, rabbits, pheasants, quail and peacocks. \u00a0<\/p>\n

\u201cI have the world here in my mini farm,\u201d said Sabin, who founded Sabin Metal Corporation, which recovers and refines precious metals.<\/p>\n

But one day by complete chance he stumbled upon a neglected property in the Springs section of East Hampton just 10 minutes down the road. <\/p>\n

\u201cI fell in love with it,\u201d he said of the 26-acre property that he bought for $2 million. \u201cIt\u2019s a Buddhist paradise \u2014 the prettiest spot in the Hamptons. I switch off when I want spirituality and peace.\u201d<\/p>\n

With a decidedly eastern Asian feel, Sabin studded the 2,000-square-foot home with prayer flags, Chinese and Tibetan keepsakes, terracotta warrior replicas, Japanese-style tatami rooms, a soaking tub and a stone pass sourced from rivers in China down the quarter-mile-long driveway. An ecological wonder, the property now has a $50,000 turtle sanctuary that he constructed \u2014 a \u201cretirement home for turtles,\u201d he said.<\/p>\n

\u201cThere\u2019s no contact with anybody but a red-tailed hawk,\u201d he added.<\/p>\n

Michael Burns has also carved out a duplicate Hamptons sanctuary for his family.<\/p>\n

\"Hamptons
Hamptons fixture Michael Burns embraced the \u201cvacation-like\u201d beachy vibes at his second home, within a Montauk \u201ctrailer park.\u201d<\/figcaption>
Courtesy of Michael Burns<\/span><\/figcaption><\/figure>\n

Burns moved from Greenwich Village with his wife and teenaged son to a Sagaponack five-bedroom home full-time about five years ago. A Bronx native and founder of the advertising agency the Burns Group, he said that it is an \u201cantidote\u201d to the hustle and bustle of the city. <\/p>\n

\u201cIt offered unmatched privacy and something of a sanctuary,\u201d he said. \u201cTruman Capote, who lived in Sagaponack for many years, once described it as \u2018Kansas with a sea breeze\u2019 and \u2018a place to be alone.’\u201d <\/p>\n

But soon the family began to long for a tighter-knit community and bought a condo in the decidedly unstuffy Montauk Shores Condominiums, a 900-square-foot, two-bedroom beachy \u201csurf shack.\u201d Colloquially called the \u201ctrailer park,\u201d the 20-acre former tent camp from the \u201940s has a fabled history.<\/p>\n

\u201cIn Sagaponack, you don\u2019t borrow a cup of sugar,\u201d he said of the country\u2019s second most expensive ZIP code, known for its big-name bankers like Lloyd Blankfein and Gary Cohn. \u201cThey call it, \u2018on Goldman Pond.\u2019 In Montauk, everyone knows each other. Here we have a real community where people know each other\u2019s names, where kids roam free, and where surfboards and skateboards abound. I imagine that this is the same kind of energy that inspired all of that classic Beach Boys music of the 1960s.\u201d<\/p>\n

While Burns declined to reveal what he spent on the his new home away from home, a two-bedroom unit in the community, with a pocket known as \u201cBillionaires\u2019 Corner,\u201d recently listed for $1.67 million.<\/p>\n

Now, the family decamps to Montauk, a mere 20 minute drive, as soon as the school year ends to enjoy the boho vibe with surfers, nightly beach fires and the strumming of ukuleles.<\/p>\n

\u201cLife is simple here,\u201d he said. \u201cIt\u2019s like vacation, it\u2019s so different. Everything changes.\u201d\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Hamptons homeowners buy second houses for ‘weekend getaways’” Hamptonites are seeing double. Thumbing their noses at one of the most aggressive markets in history, established residents of the Hamptons are buying up additional homes in the East End. They\u2019re not looking for a quick flip either. These second home buys are pricey pied-\u00e0-terres that provide…<\/p>\n","protected":false},"author":1,"featured_media":312827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/07\/george-phairot-southampton.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[113094,71226,73037],"class_list":["post-312826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-7-30-21","tag-real-estate","tag-the-hamptons"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/312826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=312826"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/312826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/312827"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=312826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=312826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=312826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}