To home seekers shopping in the under $1 million price range on Long Island’s East End, Douglas Elliman agent Constance Porto warns of “slim pickings.”
“You’re going to have to make a decision quickly, because they don’t stay on the market that long,” Porto said. “And anything under a million is going to need work.”
But Quogue-based Compass agent Mariana Nunes said it is still possible to gain entry to the East End for $999,999 or less.
“When COVID hit, the pricing in Hampton Bays skyrocketed,” said Nunes. “But, there is still opportunity in Hampton Bays to snag properties for under a million, if you’re a discerning buyer and you have an eye for certain things.”
This East Hampton cottage has an estimated at 250 square feet, the listing agent said. Credit: Rise Media
Community:
East Hampton
Closing price:
$620,000
Priced at just under $600,000, a small cabin on a 0.18-acre property in East Hampton sold for $620,000 in October.
“The cottage itself, you’re probably looking at 250 square feet,” said Douglas Elliman agent Andrey Trigubovich. “That’s the smallest I’ve ever sold here.”
The cabin is smaller than most apartments, condos and co-ops, Trigubovich said, which usually start at 300 square feet.
“If you know the Hamptons market,” he said, “it’s hard to find anything under $800,000, $900,000 here.”
Much of the interest came from artists looking for a small parcel of land with a tiny house on it, Trigubovich said.
“That tiny house, you can increase the size of it,” he added. “There’s potential there. But in the meantime, you can also just clean it up and make a cute one-bedroom or just studio apartment.”
This Hampton Bays home measures 1,000 square feet. Credit: Jump Visual
Community:
Hampton Bays
Closing price:
$960,000
Listed for $999,000, this farm ranch-style home sold for $960,000 in January after a few months on the market.
“It needed a lot of work,” said Porto, a Douglas Elliman agent based in Hampton Bays. “It was a big house, with a nice two-car garage, but it needed updating.”
The four-bed, two-bath house sits on a 0.44-acre lot in the Hampton Bays School District. Annual taxes on the property total $7,362. Community residents have access to a private beach through a small park within walking distance of the home, Porto said.
The house had central air conditioning and oil and baseboard heating; but the buyer added a pool, renovated kitchens and bathrooms and took down walls to create a more open floor plan. The buyers also painted the outside of the house.
“The location warrants it; it’s just a premier area of Hampton Bays,” Porto said of the work the new owner is putting in.
This Westhampton home came with an additional parcel in a different tax map, the listing agent said. Credit: Tyler Sands
Community:
Westhampton
Closing price:
$910,000
This three-bed, two-bath ranch with deeded right of way to Beaver Creek sold for $910,000 in February.
“It did need some updating,” said listing agent Victoria Reynolds, of Daniel Gale Sotheby’s International Realty. “But it was in Westhampton.”
Annual taxes on the 0.31-acre lot, which is in the Westhampton Beach School District, total $4,923. An additional parcel in a different tax map came with the property, Reynolds said. The neighborhood has sidewalks that offer safe routes to schools and the village.
Reynolds said the house was in a favorable location and had potential.
“It was dated,” she said of the property, which was sold by an estate. “But, it was still cute because it had the wide-plank floors, wood burning fire place.”
The buyer is “making it into a very Hamptons cottage,” with shingles and a heated saltwater pool, Reynolds said.
This Hampton Bays home sits on a 0.41-acre property. Credit: Jump Visual
Community:
Hampton Bays
Closing price:
$945,000
This three-bedroom, two-bathroom ranch in the Rampasture Point neighborhood of Hampton Bays closed for $945,000 in April.
“It was small, but it’s very nicely maintained,” Porto said of the 1,000-square-foot house on a 0.41-acre property. Annual taxes on the property, which includes a breezeway and a one-car garage, total $9,226.
The home is not waterfront and does not have a pool; but Porto described the area, which is surrounded by water, as a “really special place.” The block has its own beach, she said.
This Southampton home’s taxes were under $3,000. Credit: Liz Glasgow
Community:
Southampton
Closing price:
$999,000
Priced at $999,000 and sold for that amount in December, this three-bedroom, two-bathroom home in Southampton sits on a 0.59-acre property in Southampton School District. Annual taxes total $2,865.
“It’s a very small, very small market under the million-dollar mark,” Compass agent Gail Toma said. “In my opinion, this was a fantastic opportunity to come into this area.”
Through the Compass Concierge Program, the seller took…