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Something to Talk About

Something to Talk About

By
Bridget LeRoy

    A glance at the deed transfers that occurred in the real estate market in East Hampton during the end of October through mid-November tells an interesting story indeed.

    First, there is Shaun and Camilla Woodward’s house on Highway Behind the Pond. Mr. Woodward — a British member of Parliament and former shadow secretary to Northern Ireland — and Mrs. Woodward, who is a member of the wealthy Sainsbury family who own a supermarket chain in England, put the property on the market in March at an asking price of $18.5 million, but settled on Nov. 10 for $16.75 million for the six bedroom estate.

    Remember back in August when the village was up in arms about the possibility of Gilt City throwing illegal commercial parties at a house on Fithian Lane? That house has sold as well, going for $5.8 million on Nov. 14.

    Heading east toward Amagansett, records show that East Hampton Town Councilman Dominick Stanzione purchased a house on Leeton Road on Napeague, close to the hotly contested stretch of sand that has property owners in the area suing the Town of East Hampton.

    Also in Amagansett, the sale of a forlorn property at 115 Main Street — formerly owned by the proprietors of the Crystal Room on Pantigo Road — to 23 Windmill Lane L.L.C., also known as the Reform Club and owned by Randy Lerner — seems to anticipate the expansion of one of the area’s high-class inns.

    In Sag Harbor, the former Methodist Church on Madison Street has been on the market for quite a while, but on Nov. 14 it was purchased for $2.1 million by Bauhaus L.L.C., the company owned by Elizabeth Dow, a textile designer. Ms. Dow is the director of Amagansett Applied Arts on Indian Wells Highway, where she also operates a textile and wall coverings studio. She plans to convert the Sag Harbor church into a studio, an apartment, and a retail space, according to The Sag Harbor Express.

    As notable as the large sales — which also include a $3.3-million sale in Montauk and an $8-million sale on Beach Lane in Wainscott — is a small sale, just $30,000, for a vacant quarter-acre in Springs.

    Mid-market sales were also evident, but it was the turnover of the several high-end properties that will have tongues wagging in brokerage offices over the holidays.   

Keeping Account 11.03.11

Keeping Account 11.03.11

Organic Grapes

    Rex Farr, an organic farmer and proprietor of the Farrm in Calverton, has harvested the first batch of certified organic grapes on Long Island. The harvest yields between 10 and 12 tons of four reds: malbec, merlot, cabernet franc, and petit verdot.

    Mr. Farr has been looking at possible partnerships with several East End wineries “to appeal to a broader consumer base,” he said in a release. Although a few of the 45-plus wineries on Long Island employ selected organic farming methods, the Farrm is the only certified full-organic farm to harvest grapes.

    The Farrm has 60 acres planted with vegetables, hay, and now grapes, and has been certified organic since 1990, making it, with the Green Thumb in Water Mill, one of the first of its kind on the Island.

New Insurance Adviser

    George Yates, the president of the Dayton, Ritz, and Osborne insurance agency in East Hampton and Bridgehampton, has announced that Teresa M. Schurr, a personal lines representative at the firm, recently earned her “accredited adviser in insurance” designation. Ms. Schurr is a licensed New York State broker.

    In order to earn the new designation, which recognizes industry professionals in the areas of insurance production, multiple-lines production, agency operations, and sales management, Ms. Schurr successfully completed nine exams. She is also a member of the Springs School Board.

MonkMusic Studio

    Cynthia Daniels, an Emmy and Grammy-winning recording engineer, has opened a recording studio in the Northwest section of East Hampton. It features two “acoustically perfect” recording rooms.

    Designed by John Storyk, a well-known industry designer, and featuring “pristine construction” by Mike Davies, MonkMusic Studio also offers an extra-large control room with A.D.R., I.S.D.N., and Source Connect remote-recording services. There is 5.1 recording and mixing for postproduction.

    The studio has a large selection of microphones, from vintage favorites to the newest, along with guitar amps and instruments and a vast sound-effects library. Its Web site is monkmusicstudios.com.

Third Quarter: Up or Down?

Third Quarter: Up or Down?

By
Bridget LeRoy

    Prudential Douglas Elliman, Corcoran, and Brown Harris Stevens, three of the brokers on the East End, have released their third-quarter reports for real estate sales in the area.

    According to Prudential, the number of sales is up sharply over the same period last year, although prices slipped from last year’s results, as did listing inventory.

    Prudential’s results looked at all of Long Island, where the median luxury sales price fell 8.7 percent over the prior year’s quarter. Median sales prices on the South Shore of Suffolk County increased 1 percent, however, and the number of sales there jumped an impressive 39 percent from the same period last year.

    Brown Harris Stevens, which deals with high-end sales on the South Fork, reported that median sales prices rose 20 percent over last year’s numbers, with a median sales price of $905,000 and a residential sales price average of $1.8 million.

    A major factor was a 45-percent increase in sales of houses priced at $2.5 million or more in 2011. Cia Comnas, the executive managing director of Brown Harris Stevens, said in a release, “Our report reflects 250 reported single-family home sales in the third quarter, 6 percent more than a year ago.”

    The firm also reported activity falling at the lower end: Sales of properties under $1 million were down to 57 percent of all sales, compared to 67 percent last year.

    In Amagansett, the median price rose 24 percent, with sales of properties of $1 million or more accounting for 46 percent of the transactions.

    The median price for houses in Bridgehampton rose 81 percent over what the company calls “an abnormally low level a year ago.”

    East Hampton’s median price rose 31 percent to $850,000.

    In a statement, Corcoran said that “due to an increase of sales at the high end of the market, residential real estate in the Hamptons saw overall pricing increase from a year ago.”

    According to Corcoran’s numbers, the average price increased 12 percent to $1.6 million, while the median price increased 13 percent to $879,000. The number of marketwide transactions was down slightly, but in terms of dollars, sales volume was on par with last year’s, to the tune of $659 million.

    For Corcoran, the most noticeable change in activity occurred in Bridgehampton and Sagaponack, where the number of sales increased 57 percent and sales volume increased 122 percent from a year ago, to $144 million.

    On the other hand, George Simpson, president of Suffolk Research Service, which tracks the real estate market on the East End, released a statement on “discouraging results over previous quarters and over the previous year.”

    Mr. Simpson said third-quarter dollar sales and unit sales — two of the three real estate market indicators — were down compared to sales for the same period in 2010. The median price did not change.

    In East Hampton Town, the median was up compared to last year’s number, but dollar sales over all dropped 35 percent. The median price for single-family homes in Southampton Town was higher than in East Hampton — $790,000 compared to $750,000.

Recorded Deeds 11.10.11

Recorded Deeds 11.10.11

The prices below have been calculated from the county transfer tax. Unless otherwise noted, the parcels contain structures.

AMAGANSETT

H. Miller to Cherry Tree Holdings, 61 Indian Wells Highway, 1.11 acres, Sept. 28, $2,850,000.

F. Parsons and A. Lee to J. Reeves IV, 48 Hand Lane, .52 acre, Aug. 17, $1,500,000.

EAST HAMPTON

A. Pontick Jr. to 61 Buell Lane Extension, 61 Buell Lane Extension, Sept. 26, $1,037,500.

R. and C. Webby Jr. to A. Lee, 61 Whooping Hollow Road, .46 acre, Sept. 27, $685,000.

EAST HAMPTON VILLAGE

E. Blake by executors to 46 Huntting Lane L.L.C., 46 Huntting Lane, .6 acre, Sept. 23, $2,350,000.

E. Ratsep to J. DeFlorio, 18 Buell Lane, .85 acre, Sept. 23, $2,500,000.

WAINSCOTT

B. Bodei to M. and M. O’Neill, 53 Sayre’s Path, .46 acre, Sept. 16, $1,100,000.

____

Data provided by Suffolk Research Service of Southampton

Suffolk Misses Deadline

Suffolk Misses Deadline

By
Bridget LeRoy

    Two of the East End’s community banks, Bridgehampton National Bank and Suffolk National Bank, have posted their third quarter numbers, and both report strong earnings, but for Suffolk Bancorp, the good news comes in the midst of more troubling circumstances.

    Suffolk Bancorp has been under the gun as of late, with delayed filings that have forced the one-bank holding company out of compliance with Nasdaq. With a deadline of this past Monday to provide financial statements from 2010, the management was “disappointed with not meeting the deadline,” Frank D. Filipo, an executive vice president, told American Banker, an industry publication.

    The company has a week to respond to Nasdaq or face a possible delisting with the market. However, Suffolk Bancorp intends to request a hearing, which could delay any possible steps for another month, during which time the company plans finally to complete the filings.

    “The process of restating the third and fourth quarters of 2010 and moving forward to definitive statements for the first and second quarters of 2011 has taken far longer than any of the parties involved anticipated, and we continue to work diligently to make those filings as soon as possible,” said J. Gordon Huszagh, the president and chief executive officer of the bank, in a statement.

    However, the company determined profitability in the third quarter, exceeding ratios for a “well-capitalized” institution as of Sept. 30.

    “We are, therefore, and expect to continue to be, able to conduct our business,” Mr. Huszagh said.

    Suffolk also released preliminary and unaudited numbers for the third quarter. Earnings per share were $.32, and net income was over $3 million, with assets above $1.6 billion.

    There are no comparisons to last year’s third quarter due to the fact that the audit committee of the bank’s board of directors determined “non-reliance on the financial statements previously filed” in 2010, according to a statement on the Suffolk National Bank Web site.

    Bridge Bancorp, the parent company of Bridgehampton National Bank, announced net income and earnings per share of $2.8 million and $.41 per share on Sept. 30, which includes $76,000 of after-tax acquisition costs associated with the merger with Hamptons State Bank on May 27, 2011.

    The numbers show a 20-percent increase over the third quarter of 2010. Net interest income was $11.5 million, a 22-percent increase of 2010, with a net interest margin of 4.04 percent.

    The bank also reports deposits of $1.16 billion, which, according to a press release, shows “continuing strong growth trends.”

    The quarterly dividend was declared at $.23 per share.

Recorded Deeds 11.17.11

Recorded Deeds 11.17.11

The prices below have been calculated from the county transfer tax. Unless otherwise noted, the parcels contain structures.

EAST HAMPTON

P. Greenwald to M. Nelson, 30 Old Orchard Lane, 1.68 acres, Oct. 3, $1,375,000.

M. Duryea to E. Menkes and S. Davis, 35 Floyd Street, .4 acre, Sept. 23, $1,200,000.

EAST HAMPTON VILLAGE

H. and L. Drucker to J. Ende, 121 Pantigo Road, .45 acre, Sept. 29, $1,250,000.

MONTAUK

K. and E. Tikkanen to S. Dejesus, 49 Flamingo Avenue, .41 acre, Sept. 12, $709,500.

J. and D. McDonough to M. and M. Waskiewicz, 9 McKinley Road, .23 acre, Sept. 30, $1,300,000.

SAG HARBOR

P. Margonelli to J. Klatsky, 90 Harrison Street, .21 acre, Sept. 28, $960,000.

K. Keller to M. Girondo, 92 Crescent Street, .21 acre, Oct. 7, $715,000.

SPRINGS

M. and P. Kinney to N. Bernardini, 57 Sycamore Drive, .47 acre (vacant), Sept. 29, $250,000.

A. and L. Lippa to E. Nahum, 31 Harbor Hill Lane, 1.4 acres, Sept. 16, $1,160,000.

H. Dunphy by administrator to P. Schmuhl and A. Ring, 50 Gardiner’s Lane, .5 acre, March 17, $466,500.

S. and A. Segal to Fairway House L.L.C., 12 Fairway Drive, .97 acre, Oct. 6, $1,200,000.

WAINSCOTT

J. Dillon to T. and F. Kawaja, 81 Westwood Road, .46 acre, Sept. 9, $2,050,000.

___

Data provided by Suffolk Research Service of Southampton

Keeping Account 11.17.11

Keeping Account 11.17.11

More Awards for Ads

    Blumenfeld + Fleming, an advertising, marketing, and design firm based in Montauk, has won 17 media awards from MarCom, an international marketing and communications competition that received over 6,000 entries.

    The firm is owned by Lynn Blumenfeld and Jill Fleming. It received MarCom awards for Web banners and print advertising for Southampton Hospital and for a new logo, Jitney wrap, and “Jawsome” print ad for the Long Island Aquarium (formerly Atlantis Marine World) in Riverhead. Other nods were given for work the firm did for Main Beach Surf and Sport (a platinum for Web site design), Hampton Hills Country Club, Paddlers for Humanity, Suffolk County National Bank, Concerned Citizens of Montauk, Landscape Details, and Race Lane restaurant in East Hampton.

    The company’s Web site is blumenfeldandfleming.com.

Made Moves

    Made, Eleni Preston’s store filled with artisanal home items, has made the move from East Hampton to Sag Harbor. The shop has taken up residence, along with its original and reclaimed household and personal stock, at 3 Bay Street, next to Donna Karan’s Urban Zen.

    The store will open today, and will be open Thursdays through Saturdays from 10 a.m. to 5 p.m., and Sundays from noon to 4 p.m. Made’s Web site is www.made-on-earth.co (not .com).

Local Girls With Good Skin

    Donna McCue, an East Hampton resident and owner of Fat Ass Fudge, and Jeanne Cuddy-Perez, Ina Garten’s stylist, were selected for a national skin care infomercial that aired on Monday and Tuesday.

    The extra-long advertisement for geneME, a DNA-based skin care product, was broadcast nationwide on the Lifetime and Oxygen channels, and aired locally in New York City and Orlando.

Chamber Mixer

    The Southampton Chamber of Commerce is hosting a networking night tonight at the Southampton Inn. Admission for members is $15 and includes a 50-50 raffle, appetizers, and a cash bar.

    The event at 91 Hill Street is being sponsored by J. Lack Consulting, which will be on hand to answer technology questions.

    The mixer is being held from 5 to 7 p.m.

 

Marders Open House

    Marders on Snake Hollow Road in Bridgehampton will kick off the holiday season with an open house over the Thanksgiving weekend. Curious shoppers are invited to stop by for complimentary cookies, mulled cider, or a taste of a homemade cake.

    Marders, whose slogan is “For a world too full of sameness,” offers handmade wreaths, birdhouses, candles, stocking stuffers, ornaments, silk arrangements, a popular kids’ section, and more. The Silas Marder Gallery will also be open.

 

Working: ROBERT A. MORARU, M.D.

Working: ROBERT A. MORARU, M.D.

Dr. Robert A. Moraru said he was expecting to focus more on cosmetic treatments at his East Hampton dermatology practice, but has been surprised by the amount of skin cancer cases he has treated on the South Fork.
Dr. Robert A. Moraru said he was expecting to focus more on cosmetic treatments at his East Hampton dermatology practice, but has been surprised by the amount of skin cancer cases he has treated on the South Fork.
Janis Hewitt
By
Janis Hewitt

    Robert A. Moraru, M.D., of Lower Manhattan Medical Associates has opened a satellite office in East Hampton where he hopes eventually to practice dermatology full time. But for now he can be seen in the office, at 300 Pantigo Place, on alternate Fridays and Saturdays. He opened in June and has already built up a neighborhood practice. He accepts most insurance.

    Dr. Moraru bought a house in Northwest Woods, East Hampton, right after the devastation at the World Trade Center in 2001. His Manhattan office is a block away from the Twin Towers and he had to evacuate it immediately. Many of his patients worked in the towers, and he lost quite a few of them.

    One was a young man he successfully treated for acne before his wedding, planned for later that September. The man’s fiancée was so pleased with the results that on Sept. 10 she visited Dr. Moraru to thank him and give him a hug for clearing up her future husband’s skin before the big day. “The next day he was gone,” the doctor said, looking away.

    He was one of the first doctors on the scene to treat injured rescue workers and was put in charge. He worked out of a damaged deli for two weeks across the street from the carnage until the Disaster Medical Assistance Team showed up and told him he could leave. “I didn’t want to leave. I had no place to go, and I knew I was helping,” he said.

    Before the attack, Dr. Moraru had completed a renovation of his office, which he took over in 2000 from a friend who was retiring. He wasn’t sure what he would find when he was allowed to return. The space was covered in a heavy layer of dust that needed an industrial cleaning. Equipment and supplies were severely damaged and had to be replaced.

    On a recent visit in East Hampton he seemed thrilled that his patients in the waiting room knew one another and were having a chat fest. They included a veterinarian, a schoolteacher, and a high school student. “Everyone is so friendly,” he said, grinning.

    The demographic on the South Fork is not what he expected. He was surprised to find so much skin cancer. He said he thought he would be pumping Botox and other substances into the “ladies who lunch” but has found a huge need for medical dermatology.

    In East Hampton he has two examination rooms and a large reception area with a bank of computers. There is one medical assistant and a receptionist. “We’re small, but we’re hoping to get bigger,” he said.

    Reli Zahner, an aesthetician, performs European facials, warming peels, and other treatments in the office. “It’s relaxing and therapeutic. You come in for the cleanse and leave feeling really good,” Dr. Moraru said.

    At present, he practices in Manhattan Monday to Thursday and then drives out with his family. They gather up their belongings and head back to the city early Monday morning. But he is not bothered by the commute.

    “This is home to me. I want to offer good medical care out here. I even love the winters,” he said with a laugh.

Home, James! Is Closing After 25 Years

Home, James! Is Closing After 25 Years

Thanksgiving weekend may be the last for Home, James! David Cipperman, and his partner, Josef Schreick, are closing the store at 55 Main Street and reduced-price stock is selling fast.
Thanksgiving weekend may be the last for Home, James! David Cipperman, and his partner, Josef Schreick, are closing the store at 55 Main Street and reduced-price stock is selling fast.
Durell Godfrey
By
Bridget LeRoy

    Home, James!, nestled in a bright, goody-filled spot at 55 Main Street, is closing its doors after 25 years in business.

    “We’re going to focus our energy into our wholesale collection,” said David Cipperman, who owns the business with his partner, Josef Schreick. The shop features tableware, accessories, and linens, along with other personal items, such as Christmas ornaments, and has been a favored destination for shoppers since it first came on the scene in 1986.

    Dining collections like Two Mile Hollow — featuring sea creatures daintily set against a blue-and-white background — have given the shop its signature East Hampton feel. But now, according to Mr. Cipperman, even East Hampton Main Street is lacking an East Hampton feel.

    Mr. Cipperman blames poor planning for the preponderance of chain stores that now inhabit spaces in the village formerly occupied by mom-and-pop stores. “People are starting to really notice,” he said. “It’s time for people to decide what they really want this village to be. It’s shifting away from a viable community and going toward a strict summer destination.”

    The store’s print advertisement running in papers over the past few weeks points out “the drastic changes” East Hampton’s retail landscape has experienced in the last five years.

    “Multinational corporations have taken over the shopping district with little regard for our history or year-round community,” reads the ad. “When shops open in late-May and close in September, Main Street becomes a desolate destination for the remaining eight months.”

    The shop’s owners point to “extreme profit-seeking and lack of vision by our village officials” as the reason for the demise of locally-owned businesses. “It is very difficult to sustain a business with only three to four months of steady trade.”

    “It used to be all pretty much locally-owned businesses here,” Mr. Cipperman said. “Now that’s the exception rather than the rule.”

    Promises of half off the merchandise have kept a steady stream of shoppers coming to Home, James! since the closing was announced, both to purchase and pay respects. “I felt like I was in a receiving line at a funeral all weekend,” Mr. Cipperman said.

    “People are upset,” he continued. “It’s at a point where the community has to have a meeting of the minds. I hope it will become a more conscious, thought-out process on how the village will progress. It’s been passive so far, and rents have been set accordingly. And people coming out here now, as the generations change, may not want to be as involved.”

    The store, which is selling its stock and fixtures, was to stay open until Dec. 15, but with items being snapped up quickly, it may close earlier. “Thanksgiving weekend may be the last,” Mr. Cipperman said.

    Future plans include adding more retail to the Web site homejameseasthampton.com and keeping an office on Newtown Lane for the wholesale goods. Mr. Cipperman, who is an architect, looks forward to taking on more projects.

    This week, he remembered his regular customers with great fondness. “We have had 25 great years with the shop. We love our customers, we loved being here.”

    “We’re really grateful for the time we had,” he said.

Recorded Deeds 11.24.11

Recorded Deeds 11.24.11

The prices below have been calculated from the county transfer tax. Unless otherwise noted, the parcels contain structures.

EAST HAMPTON

J. and B. Ortigoza to H. and P. Marks, 52 Abraham’s Path, .41 acre, Oct. 3, $855,000.

J. and V. Eisner to J. and B. Jebbia, 3 Whale Rock Lane, .96 acre, Oct. 4, $1,495,000.

L. Driskell by executors to J. and E. Sautter, 2 Timberline Road, 1.79 acres, Sept. 8, $999,000.

S. Diamond to J. and H. Roth, 9 Hardscrabble Close, .92 acre, Sept. 22, $790,000.

D. Huemer and F. Kelly to J. Huminski, 460 Abraham’s Path, .25 acre, Oct. 13, $275,000.

MONTAUK

N. and M. Tcheyan to 225 Old Montauk L.L.C., 225 Old Montauk Highway, 1.03 acres (vacant), Sept. 22, $900,000.

Hill House Realty Co. to 221 Old Montauk L.L.C., 221 Old Montauk Highway, .95 acre, Sept. 14, $950,000.

NORTH HAVEN

P. Mooney to D. and J. Harris, 37 Thistle Patch Lane, .79 acre, Oct. 7, $660,000.

NOYAC

P. and W. and T. and G. Frank to M. Donnellan, 3808 Noyac Road, .29 acre, Oct. 3, $360,000.

SPRINGS

E. Malichesky to Channer and Benusis Channer, 37 Waterhole Road, .43 acre, Oct. 13, $470,000.

WAINSCOTT

F. Lambiase and P. Meyers to Rhino Properties 25 W.N.W., 25 Wainscott Northwest Road, 1.1 acres, Oct. 4, $2,200,000.

F.E.M. Building and Development to D. Goldberg Trust, 46 Wainscott Northwest Road, 1.22 acres, Oct. 7, $4,600,000.