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Thank you. I appreciate you recognizing that the market may be stronger than what you initially thought. I’m sure you are correct that there certainly are variations in the strength of the Long Island real estate…neighborhood to neighborhood, block to block, etc. You may well be right about the pre-COVID real estate market in the Hamptons….I have no information that would contradict what you shared above, and have no reason to doubt it.
You are a smart guy, well read, and have significant knowledge about financial planning issues. You have been very generous with sharing that knowledge here. But you can come across as dismissive of others’ opinions, and can be very stubborn in acknowledging facts that are contrary to your point of view. Sharing two links about the 2021 Hamptons’ Real Estate market, one from 2015 and one that actually addressed real estate issues in Virginia, and siting that data as support for your arguments is a good example of your stubborn nature. You are going to be right more often than you are wrong about the stuff you share here. Maybe be a bit less certain in your own opinions and be more open to what others think. I can certainly think of instances where I would benefit from taking my own advice. Peace.
It did look funny …although out in montaulk we saw a lot of homes like that ..nothing I would want that is for sure but quite a few what I will call lower end homes not on the beach.
I found East Hampton definitely more upscale then montauk …
Funny story
One year my wife and I decided to go to east Hampton for thanksgiving so she booked us for dinner at a place in east Hampton .. I think it was MICHAELS Maidstone bar and restaurant…they had a very reasonable dinner offer ….under 50 bucks a person .
So we go to dinner and I put the place in my gps ..
We pull up and the place is beautiful and it is filled with esoteric cars ..
We go in and the staff is wearing tuxedos ….we tell them we have a reservation and they show us to a table .
We get the menu and it is all these gourmet things on the menu ….
Then I notice the price is 120 a person plus drinks ,tax and tip .
I am telling my wife she messed up and must have looked at the price wrong when she booked it .
Well it turns out she was right .
I put the Maidstone country club , not The Maidstone bar and restaurant in my gps . The Maidstone is one of the swankiest country clubs in the hamptons.
Dinner was hundreds of dollars but it was sooo good …..she never lets me live that mistake down
I just read the part you added about dinner.
The original name for East Hampton was Maidstone, so it is actually a common name you see out there. Unless you pulled off a seriously major coup, I would suggest that you probably ended up at the Maidstone Inn, not the Maidstone Club. Either can be mistaken by GPS for Michaels Maidstone Bar, and it is just as common to see exotic cars in the parking lot of The Maidstone Inn.
There are country clubs there where all you need is a million (plus) dollars for the membership fee and you are in. That's not The Maidstone Club. The Maidstone Club only cares about pedigree. Not money. Not fame. Just lineage. In fact, it is rumored that the membership fee is only $150k, but it is so exclusive that you cant get in unless you were born to the right kind of family. There are people that would gladly pay $5M to join, because very wealthy people REALLY want anything you tell them they cannot have, but they are "not the right fit", so they get denied.
I have a great story about The Maidstone Club. A wealthy NYC builder and philanthropist named Evan Frankel was commissioned by the government to build radar towers out in East Hampton during WWII. He ended up loving it out there and he made it his permanent residence. It was a small town back then, where everybody knew everybody. All of his East Hampton friends belonged to The Maidstone Club, and he decided to apply. He knew that they did not take Jews at the club, but he figured since he was close with so many members that surely they would make an exception and let him in.
...They didn't.
So he decided to get even with them. He bought a piece of land right at the entrance to town. Then he donated the land to The Jewish Center of The Hamptons, hired a world famous architect, and built a beautiful synagogue on the land for all to see every time they entered the town.
Great story ..interesting about the name Maidstone ….I didn’t realize that about the name Maidstone ..I picked what came up on the go’s thinking that was it …looking at the photos , yes it is the Maidstone restaurant so I am guessing it is at the inn ?
Great story ..interesting about the name Maidstone ….I didn’t realize that about the name Maidstone ..I picked what came up on the go’s thinking that was it …looking at the photos , yes it is the Maidstone restaurant so I am guessing it is at the inn ?
Yes. The Maidstone Inn has a very good restaurant.
The Maidstone Club does too, but like I said, for you to eat there and have nobody recognize that you are not a member, would be a major coup. LOL. I would be envious.
Yes. The Maidstone Inn has a very good restaurant.
The Maidstone Club does too, but like I said, for you to eat there and have nobody recognize that you are not a member, would be a major coup. LOL. I would be envious.
And that guy, Frankel? Ended up spending all his money buying up large pieces of land, not to build, but to preserve. He donated most of the land to the town to keep it from being developed. And sold to farmers, who, under contract could never build on the land or sell for development.
His name can be seen on plaques and buildings around town.
Yes. The Maidstone Inn has a very good restaurant.
The Maidstone Club does too, but like I said, for you to eat there and have nobody recognize that you are not a member, would be a major coup. LOL. I would be envious.
I wouldn’t want to belong to any club that would have me as a member. Lol
Is what insured? The house? Yes, of course. But the premium is exorbitant. One of the reasons I am seriously considering the sale.
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