The housing mania in the Hamptons continues ahead of the spring market as an 800-square-foot oceanfront trailer is under contract for a mindboggling $3.75 million, the New York Post first reported.
Suppose the deal goes through next month. In that case, it will easily surpass another trailer located at Montauk Shores Condominium, the Hamptons’ finest trailer park, which sold for a record $1.85 million in 2022.
Basic math reveals the trailer has a similar price per square foot cost as a luxury condo in New York City (of around $5,000).
Real estate agent Will Gold with The Atlantic Team at Douglas Elliman represented the anonymous buyer. He told Business Insider:
“My client came to me asking if I knew of any properties on the ocean that were for sale, and at the time there wasn’t anything available.
“After digging around, this one struck their eyes.”
Gold said the transaction is off-market and has taken seven months of negotiating.
“It’s beautiful, and it’s very high-end,” the real estate agent said, adding if Douglas Elliman listed the trailer today, it would fetch around $2.5 million.
And this isn’t your average trailer park on the beach. NYPost said hedge-fund manager Dan Loeb and Vitamin Water co-founder Darius Bikoff own trailers in the community.
“I know quite a few billionaires here.
“The most appealing aspect is the park’s quality of life. It’s a classic throwback to a summer community — relaxed and low-key in a funky way, like what Southern California must have been like in the 1950s, and it’s safe for kids,” Fred Stelle, resident and architect in Montauk, said.
It’s not surprising the Hamptons have trailer park millionaires.
Tyler Durden
Fri, 02/24/2023 – 20:40
