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      in Vacation Homes

      Is This Wooded Enclave the Best-Kept Secret in the Hamptons?

      by

      Tucked away from the opulent seafood towers at Le Bilboquet in Sag Harbor, The Surf Lodge’s famously raucous summer soirees in Montauk, and the designer boutiques in downtown East Hampton is a quiet, under-the-radar enclave in the Amagansett North area that is known to those in the know as Devon Colony. Among its laid-back charms are its tiny, no-frills downtown area and its 116-year-old yacht club, its swathes of preserved agricultural land, its authentic fish markets, and historic residences.

      Devon Colony, between East Hampton and Amagansett, was founded in 1908 by four wealthy businessmen from Cincinnati: William Cooper Procter (of Procter & Gamble), Richmond Levering (of Lever Brothers), Joseph Rawn, and William Rowe. The men first came across the area during a hunting trip—back then, hunting was common on the East End of Long Island—and they eventually acquired 1,000 acres in the Amagansett Highlands, where they built a cluster of homes they used as their summer residences. 

      The enclave was one of the first gated communities in the Hamptons, but because Procter & Gamble’s soap sales helped pay for the homes within Devon Colony, it initially garnered a contemptuous reputation among some of the more high-brow Hamptonites as “Soap Hill.” The foursome also founded the still-standing Devon Yacht Club, which includes a small private marina.

      Historic photos of the Procter and Levering homes during construction in 1909.

      Courtesy of the East Hampton Library, Long Island Collection

      Mickey, Marilyn, McCartney

      “Devon Colony is tucked between Napeague Bay and the Atlantic Ocean; it’s much less crowded than the lanes or dunes of Amagansett,” says Martha Gundersen, a listing agent with Douglas Elliman in the Hamptons. “What people love about it are big plots of land surrounded by the Peconic Land Trust, which is state-owned land. There are 500 acres of New York State land that will remain undeveloped that surround Cranberry Hole Road, which is where many of the homes are. Many successful people seeking an under-the-radar destination own here, including [Galaxy CEO] Michael Novogratz, businessman Mickey Drexler, and entrepreneur Fouad Chartouni, among others.”

      Those “others” include Paul McCartney, Alec Baldwin, Randy Lerner, and, on occasion, high-profile renters like Bill and Hillary Clinton; in the 1950s, Marilyn Monroe and Arthur Miller shacked up for a short time a charming cottage converted from a windmill. Still, despite its history of illustrious residents, Devon Colony has largely remained an unheralded hideaway, with neither a Chanel boutique nor a Sant Ambroeus cafe within miles. 

      More Elbow Room, More Privacy

      “For as long Devon Colony has existed, people have taken the environment into consideration,” Gunderson says. “People come out here to enjoy the bird life and slow-paced living. A certain caliber of people don’t just want a house, they want land, privacy, and to be a part of the community. You’ll see Paul McCartney on his boat driving past, you’ll see Randy Lerner downtown.”

      The completed Procter home, seen here in 1910.

      Courtesy of the East Hampton Library, Long Island Collection

      Gunderson goes on to say that once people get a feel for the landscape of the Hamptons and discover Devon Colony, it appeals because “there’s more elbow room and a more laid-back, less-crowded atmosphere,” she explains. Situated within the elevated Amagansett Highlands, Devon Colony has far-reaching views of Gardiners Bay, the ocean, and the surrounding land. Situated within thickets of forest, horse farms, and farmland, the lack of development is thanks to the large amount of preserved land. 

      Over the years, Devon Colony has also become known to design– and architecture-loving locals for its historic homes and picturesque gardens. Indeed, homes in Devon Colony are regularly included on the East Hampton House and Garden Tour that’s put on annually by the East Hampton Historical Society. 

      Yesterday’s Traditions, Today

      When the men from Cincinnati built their homes for their families, they crafted four grand stucco mansions and one shingle-style home, which were originally known as ‘the cottages.’ The families tapped Cincinnati-based architectural firm Tietig and Lee to create the Italianate villa-style homes with English-style perennial gardens. This stucco-over-concrete style was unusual for the Hamptons at the time. Not just that, but these homes rivaled the size of other famed mansions in Long Island’s blue-blooded Gold Coast, particularly those in Oyster Bay and Cold Spring Harbor.

      All five of the original homes are still standing, though they’ve had extensive renovations and alterations. Many of the homes have remained in the same families since they were built. The Levering house was last sold in 2018 for $8.75 million to its current owner.

      The original Levering house has undergone several renovations and last sold to its current owner in 2018 for $8.75 million.

      Brown Harris Stevens

      At the heart of the community is the Devon Yacht Club, which has remained largely unchanged since its founding in 1908, and that’s just the way members like it. Situated along Gardiner’s Bay, the club has long been popular as a family-friendly club that hosts kids’ sailing and tennis lessons. It’s also one of the few private members’ clubs that still holds old-school traditions true; a dress code is enforced throughout, from the beach to the dining room and the tennis courts. “They still shoot off a cannon at sundown,” says Paul Brennan, a listing agent with Douglas Elliman, who lives and works in the area.

      Putting Down Roots

      At a time when the Hamptons real estate prices are skyrocketing—and bidding wars have reached an all-time high—agents are seeing increased interest from buyers seeking close proximity to their favorite Hamptons hotspots and the beach, yet with more land, lower taxes, and additional privacy. 

      Among the current offerings is a brand-new, $5 million modern farmhouse-style estate that sits on three quarters of an acre directly across from a 30-acre preserve and an eight-bedroom residence on two acres that’s just five minutes from the beach and priced at $11.7 million. And just south of Montauk Highway, another new build, a 12,400-square-foot spread that borders the golf course of South Fork Country Club and isn’t too far from the popular Amber Waves Farm, Market, and Cafe, is on the market for $14.75 million.

      A brand-new residence on Timber Trail is listed for $11.7 million.

      Liz Glasgow Studios/Douglas Elliman

      “The thing that attracts me the most—and I think the thing that attracts people like the Randy Lerners and Mickey Drexlers of the world, is that they can step onto the public bay beaches and swim, kayak, and paddleboard without anyone bothering them,” Gunderson says. “It offers clean air and a quiet life.” 

      A world apart in many ways, Devon Colony is also convenient to the farm stands in Amagansett, downtown East Hampton and popular hot spots like the Stephen Talkhouse music venue. For many modern buyers, the solitude of the forested land and the working farms might not appeal. But once you get accustomed to the open spaces and slower pace of living, it’s pretty hard to leave.  More

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      in Vacation Homes

      Second Homes Will Continue to Draw Luxury Buyers Around the World in 2024

      by

      When the pandemic drove up housing prices and mortgage rates, many wealthy Americans jumped on the opportunity to acquire investment properties in less pricey foreign countries and, in some cases, to pack up and move overseas. While we’re only a few weeks into the new year, it appears that the uptick in affluent U.S. citizens heading abroad is continuing full steam ahead.

      According to the 2024 Trend Report, published by the Coldwell Banker Global Luxury program, nearly 40 percent of the survey participants intend on purchasing a home in a foreign country within the next year, and two-thirds said they plan on buying property abroad within the next five years.

      “If lower mortgage rate trends combined with the new inventory momentum continue, luxury homebuyers could be inspired to move forward with their next home purchase,” Michael Altneu, vice president of Coldwell Banker Global Luxury, said in the report. Altneu added that shoppers are prioritizing “new amenities” and are open to exploring “overseas options for their next property.”

      The report also found that location ranks as the top consideration among 45 percent of discerning consumers. About 29 percent of high-net-worth consumers are looking to move to Europe, while 28 percent are eyeing destinations in North America outside of the U.S., and 23 percent are considering the Caribbean.

      High-net-worth home buyers are looking to relocate to Europe and the Caribbean, according to a new report.

      Pexels

      On the flip side, the U.S. will continue to be a place of interest for deep-pocketed international buyers in 2024. Per the Coldwell Banker Trend Report, there was a 25 percent increase in the number of well-heeled foreign buyers purchasing real estate in the top 5 percent of the market in 2023. More specifically, those shoppers are looking to purchase property in bustling metros such as New York, Los Angeles, San Francisco, Miami, and Washington, D.C.

      “We are seeing money from China, Singapore, Hong Kong, and the Middle East being ‘parked’ in real estate in California as a holding place for wealth,” said Paul Lester of The Agency Beverly Hills in the firm’s annual Red Paper Wealth Report.

      “Instability in various South American countries continues to make Miami real estate very attractive,” noted Daniel Tzinker of The Agency Miami. “In the past three years, we’ve seen 100+ businesses like Citadel, Amazon, and Tesla move to Miami, taking advantage of the favorable tax environment…world-class restaurants, private clubs, and art galleries have followed.” 

      Authors

      Abby Montanez

      Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, dining, travel and topics…

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      in Vacation Homes

      Mid-Tier Hamptons Homes Are Seeing Massive Price Cuts. Here’s Why.

      by

      After a pandemic-era boom, home prices in the Hamptons are starting to plunge.

      Last month, the interest rate on a 30-year fixed mortgage hit a whopping 8 percent for the first time since 2000. Back in 2020, the average rate clocked in at around 3 percent, and it’ll likely be a long time before rates dip that low again.

      As a result, a slew of properties in the $2 million to $5 million range—the middle range for luxury homes in the notoriously expensive string of Long Island communities that comprise the Hamptons—are seeing major price cuts, the New York Post reported. In recent months, seven-figure homes in the affluent enclaves of Sag Harbor and Amagansett have seen asking price reductions of up to 20 percent as rising interest rates continue to spook buyers.  

      The asking prices of homes listed in the $2 million to $5 million range are being slashed across the Hamptons.

      Susan Wood/Getty Images

      In addition, New Yorkers who fled to the Hamptons during the pandemic are now facing a return-to-office push that’s putting an end to the work-from-home era. “Now that people are back at the office, they don’t need all that space for a ‘Zoom room’,” a source told The Post. “I know a lot of people turning their remote offices in the Hamptons back into bedrooms and putting them on the market.”

      According to a report by Douglas Elliman, the median sales price for a Hamptons home was $1.4 million, an 11.4 percent drop from a year ago, while the average price for a luxury property was just shy of $6.2 million, a 3.2 percent decrease. Conversely, sales at the top end of the market are booming. Deals in the East End spiked 11.6 percent from the second to the third quarter, while trophy home sales were up 11.5 percent. In fact, it was the second time in almost 20 years that there were more transactions between July and September than between April and June. 

      “There’s a ton of wealth, and people will always want to be in the Hamptons,” David Mazujian, a realtor with the Corcoran Group, told The Post. “There’s a ton of demand.”  More

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      in Luxury

      Miranda Priestly’s Manhattan Townhouse From ‘The Devil Wears Prada’ Goes for $26.5 Million

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      The stylish Upper East Side townhouse that Meryl Streep’s character Miranda Priestly called home in the 2006 film The Devil Wears Prada has just sold to an as-yet-unidentified buyer for $26.5 million.

      That’s exactly one million dollars less than hedge-fund mogul Craig Effron and his wife Caryn originally listed the place for in May. But it’s still lots more than the $8.8 million the couple doled out for the limestone and marble townhouse 20 years ago, before subsequently engaging designer Anthony Baratta to customize the premises to their personal tastes in 2005.

      Coming in at 22 feet wide, the Neo-Italian Renaissance structure was built in the early 1900s and crafted by architect Henry Allan Jacobs, and features seven bedrooms and 10 baths sprawled across 12,000 square feet of living space on five levels, all accessible via an elevator or a stunning spiral staircase. There’s also a full basement with a recreation room, plus a roof terrace sporting a hot tub.

      A formal gallery greets visitors with a marble fireplace and Murano chandelier.

      Krisztina Crane/Evan Joseph Photography

      Among the highlights: a formal gallery displaying a marble fireplace and glam Murano chandelier, an inviting den laced with Anigre wood paneling, and a living room boasting two fireplaces, a wall of custom bookshelves and three sets of arched French doors.

      A fireside dining room is spotlighted by a cerulean blue chandelier and doors spilling out to a terrace, while the gourmet kitchen comes complete with a gingham-patterned floor, Carrara marble and stainless countertops, industrial lighting from the 1930s, top-tier Viking and Sub-Zero appliances, and an accompanying breakfast room.

      A charming living room is outfitted with dual fireplaces, bespoke bookshelves and arched French doors.

      Krisztina Crane/Evan Joseph Photography

      Also standing out is a sumptuous master retreat, which flaunts a Juliette balcony, fireplace, spacious walk-in-closet, and luxe bath equipped with dual vanities, a dressing area and soaking tub resting beneath a 5-foot-tall oculus window; and elsewhere is another bedroom that’s been converted into a mirrored gym and fireside library, as well as a bespoke basketball court.

      Did we mention that it’s also right across the street from Gloria Steinem‘s home?

      Per The Wall Street Journal, which reported on the sale, Dougas Elliman’s Corey Shuster, who worked with the buyer alongside fellow agents Arthur Maglio and Ibrahim Guldiken, declined to identify his client but said the purchaser had been actively looking for a townhouse in the neighborhood for about 18 months. When this one came on the market, “it fit like a glove,” he said.

      The listing was held by Adam Modlin of Modlin Group.

      Click here for more photos of Miranda Priestly’s Manhattan Townhouse.

      Krisztina Crane/Evan Joseph Photography More

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      in Vacation Homes

      Exclusive: Aman New York Is Opening Its Private Residences for Overnight Stays. Here’s a Look Inside. 

      by

      The hyper-luxury vacation rental market now meets a five-star hotel at the corner of New York’s Fifth Avenue and 57th Street. At Aman New York, two of its ultra-swanky private residences are now available for short-term and extended stays, and Robb Report got an exclusive peek inside.

      Aman New York, which made its debut last summer inside Manhattan’s historic Crown Building, is offering the opportunity to reserve either a one- or three-bedroom apartment from its collection, and the kicker is that you can stay as long as you like. In addition to its 83 hotel suites, the Midtown property contains 22 fully-serviced Aman Residences, all designed by Belgian architect-designer Jean-Michel Gathy. Only two of the private residences are currently available to reserve, but additional apartments are slated to be released in 2024.  

      Aman New York is welcoming guests to reserve its private residences for short-term and extended stays.

      Courtesy of Aman New York

      “The introduction of Homes at Aman New York is the next phase of the evolution of our flagship destination in the West,” Vlad Doronin, chairman and CEO of Aman, tells Robb Report. “By offering our guests a new accommodation type, which are from within our 22 private branded residences, we have elevated the experience to another level for those traveling in larger groups, staying with us for longer, or who are seeking the utmost privacy. Aman New York Homes represent the most complete experience of the Aman lifestyle in the heart of Manhattan.” 

      The way it works is pretty simple. Owners of the 22 private residences can enter their residence into Aman New York’s rental program, and guests can book the property for however long they need. The private residences on offer are located between floors 15 and 30, above the hotel suites, and are accessed via dedicated elevators.  

      Guests can reserve either a one-bedroom apartment or a three-bedroom residence.

      Courtesy of Aman New York

      Those who opt for the 1,150-square-foot, one-bedroom apartment will find floor-to-ceiling windows with cityscape views. And for those who need more room to roam, the three-bedroom spread clocks in at 3,710 square feet and overlooks Central Park. Both residences have open-plan living and dining areas accompanied by fully equipped kitchens, laundry facilities, and working fireplaces. They’re also decked out with blackened steel accents, tons of bespoke millwork, and sumptuous swaths of neutral-colored fabrics that align with Aman’s serene, contemporary aesthetic. 

      Of course, guests will be getting way more out of their stay than just a cashmere-blanketed nest to rest their heads in the heart of Midtown Manhattan. Perks include a personal butler and a complimentary house car for chauffeured drop-offs, plus access to the three-floor Aman Spa and the hotel’s two signature restaurants.

      Of course, all this at one of the world’s most exclusive hotel and residence developments does not come cheap: the three-bedroom residence starts at $30,000 per night. 

      Clickhere to see all the photos of the Aman New York Homes

      Courtesy of Aman New York More

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      in Luxury

      Showbiz Couple Joshua Leonard and Alison Pill List Their Revamped New York Home for $4.2 Million

      by

      Back in 2021, Joshua Leonard and Alison Pill fell in love with a home in New York’s Hudson Valley that immediately struck them as a “weird, rundown, hodgepodge of styles and eras.”

      The married actors—he probably most known for The Blair Witch Project, and she The Newsroom—wound up purchasing the 200-year-old property for a mere $718,900, and subsequently renovated and updated the place to suit “a new generation of tastes”; now, two years later, the couple is putting their fully transformed compound up for sale, asking just over $4.2 million.

      “When I first laid eyes on Breezy Hill, none of it really made sense,” says Leonard, who recently retired from a 25-year stint in the film industry to pursue his passion for building. “From the early 19th-century stone house, built with bluestone excavated on site, to the civil war-era post-and-beam barn…to the two 1950s-era boarding houses. It was magical and derelict, but even in its rawest state, I could feel the generations of hands and hearts that had gone into building it.

      “It spoke to me—like when you meet a lover who’s weirdest, most hidden parts are what you actually find the most appealing,” he adds. “I knew how epic the property could be with the right stewardship, and believed (for better or worse), that I was the one to do it.”

      Much of the stone used in the renovation was excavated on the property. 

      Morten Smidt

      During the construction process, Leonard says protecting the marks of craftsmanship that came before him was just as important as updating the property with his own twist, which included the challenging task of bringing all of the infrastructure and creature comforts up to modern-day standards. Per The Wall Street Journal, which first reported on the sale, the multi-seven-figure project encompassed raising the ceilings and exterior stone walls, adding a cupola, reconfiguring the floor plan and building an 1,800-square-foot addition onto the main house.

      The result is a stunningly reimagined property sited on a 20-acre parcel of heavily wooded land in the rural community of Accord, about 90 miles north of Manhattan. Included is a 19th-century stone house, plus two newly rebuilt guesthouses—for a total of six bedrooms and an equal number of baths in around 5,000 square feet of living space spotlighted by stone excavated from the property. There also is the aforementioned barn and a detached one-car garage.

      Especially standing out in the three-story main house is a sitting room featuring reclaimed wood and the original stone, which opens to a spacious kitchen outfitted with white oak floors, custom cabinetry, an under-lit marble island, a built-in butcher block and top-tier stainless appliances, as well as a window-lined breakfast nook and French doors spilling out to a veranda.

      Other highlights include a newly enlarged 1,000-square-foot primary bedroom suite resting behind a sliding wood bar door, and holding French doors leading to a private balcony, a walk-in closet, and spa-inspired bath equipped with radiant-heated floors, dual vanities, a soaking tub and large glass-encased shower.

      Perhaps the most special part of the property, though, are the secluded and picturesque grounds, which are laced with rolling hills, a spring-fed pond and streams with seasonal waterfalls. Then there’s the beautifully restored barn, which flaunts the stained-glass windows, along with a hand-chiseled chestnut staircase and massive wrought-iron chandelier salvaged from a circa-1860s hotel in Manhattan.

      The teal-hued kitchen sports white oak floors, custom cabinetry, an eat-in island and top-tier stainless appliances.

      Morten Smidt

      What’s next for Leonard now that he’s completed his first professional renovation? “I’m excited to spend this next chapter of my life building in the Hudson Valley,” he says. “I just contracted myself out to a client for the first time to design and build a house that I think will be very special. I also want to keep building/rebuilding/imagining/reimagining my own projects. I don’t have a specific agenda, but am very excited for all the possibilities that this area and its community have to offer.”

      One of the most expensive homes currently on the market in Ulster County, the home is listed by Robert Airhart with the Clement, Brooks & Safier Team of Berkshire Hathaway HomeServices Hudson Valley Properties.

      Click here for more images of Joshua Leonard and Alison Pill’s Breezy Hill compound.

      Morten Smidt More

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      in Luxury

      Movin’ Out: Billy Joel’s Sprawling New York Estate Just Hit the Market for $49 Million

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      Billy Joel has long been known as Long Island’s golden boy, but the musician is saying buh-bye to his home base out east.

      The Piano Man has listed his Oyster Bay mansion for a cool $49 million, The Wall Street Journal reported on Friday. The 26-acre property, known as Middlesea, sits along the North Shore waterfront and includes a 20,000-square-foot main house, along with a beach house, a guest apartment, a gate house, and more.

      One of the bedrooms

      Tyler Sands

      Currently, the central home is undergoing renovations, but it includes five bedrooms and eight bathrooms, along with covered porches, brick columns and archways, and a two-story foyer with black-and-white marble floors. Plus, the home comes with a suite of amenities suited to a rock star: There’s a spa and hair salon, a bowling alley, and a wine cellar. At one point, the home sported an indoor pool—along with the two outdoors—but Joel had it covered up to make a music room, the listing agent Bonnie Williamson with Daniel Gale Sotheby’s International Realty told the WSJ.

      Joel decided to list the house while renovations were still occurring because “whoever buys will want to do their own selections of how to paint and decorate and perhaps style the kitchen,” Williamson said. It should be completed by the late summer or early fall.

      A living area

      Tyler Sands

      Over the years, Joel acquired bits of property to amass his enormous estate: He paid $22.5 million for the first 14 acres in 2002, then snapped up the surrounding land. He’s decided to give it all up now because he and his wife spend most of their time in Florida, where he bought a $22 million home in 2015.

      The Grammy winner’s decision to forgo his Long Island abode will be another family’s gain, however. Along with all of the various indoor spaces, the property features a floating dock, boat ramp, and helipad, allowing you to skip the New York City traffic and arrive in style. And the various other homes on the acreage give you at least another 10 bedrooms for guests to enjoy.

      So although Joel may no longer be living in a New York state of mind, you sure can be.

      Click here to see all the images of Middlesea. More