Real Estate

The Peconic Bay Community Preservation Fund reported $45.43 million in revenues through May of this year, the highest five-month total in the fund's 22-year history. The money comes from a 2-percent transfer tax on real estate sales and provides money for land preservation, water quality improvement, and the protection of maritime heritage.

At the onset of the pandemic in early spring, a mad dash of New York City residents seeking an East End refuge led to a surge in rentals, which depleted inventory of all but the most expensive properties. Given what landlords were asking per month, people began to think, "For that money I could carry this house for a year. . . . When we hit that tipping point, the flood gates opened."

Using Airbnb is out, enlisting a savvy broker is in. Short-term bookings are out, long-term stays are in. Standard leases are out, customized ones with Covid-19 riders are in.

The Springs General Store, the historical market and gathering place on Old Stone Highway, is for sale for $2.9 million.