Real estate in the Hamptons is getting too expensive: report

Affluent Hamptons are struggling to keep up with their new super-rich neighbors – who Manhattan Hightailed in the East End during the pa...


Affluent Hamptons are struggling to keep up with their new super-rich neighbors – who Manhattan Hightailed in the East End during the pandemic.

“There’s so much money now it’s sickening”, a longtime Amagansett owner said Vanity Fair. “I’m a 1 percent. But I don’t look anything like these people.

The unidentified woman told the outlet that she now had to “work at relaxing” in a city that is “a different place now”. This is the age of eligibility.

The local reportedly said she lived near a house owned by “one of these types of hedge funds” which had a “huge” new tree fully grown on the property day in and day out, and stopped to question landscapers on the cost of the project. .

“They said they were thinking between $ 50,000 and $ 75,000 a day,” she said, according to the article. “I suspect it’s closer to $ 100,000.”

“If I weren’t here already, I wouldn’t be coming now. Conspicuous consumption is just gross.

Another resident, Heidi Wald, who has spent the summer in the east since she was a child, told the magazine that cold hard currency is now literally littered across East Hampton’s main beach.

“I looked down because I’m always on the hunt for sea glass, and there was a neat $ 50 bill on the shore. I thought, only in the Hamptons, ”said Heidi Wald.

Kathryn Kellinger, another longtime resident, told the magazine that the beach community is no longer relaxed because of insane costs and a snobby “level of judgment”.

“It’s so expensive, there is no more habitability. It’s all about the table and the costumes, ”she said. “It’s a fever now. The number of people and the amount of fun they insist on having is more programmed than in New York.

A 25-year-old woman told the point of sale how she and 30 friends each raised $ 3,000 to rent a house in Montauk for a month, a cost that is paltry compared to the cost of the town’s entertainment.

“The tables are absurd,” she would have said. “I had friends who ended the night with $ 7,000 bar bills.”

The woman said she had already spent $ 60 on a one-mile Uber trip, while another told the magazine about $ 600 of trips between hamlets due to “tourist” demand.

Prices like these make the $ 88 Lobster Cobb Salad reported to Duryea in Montauk seem reasonable, but even light lunches that leave you hungry can cost triple digits at upscale restaurants in the area.

A Hamptons resident said Uber prices have increased due to requests for
A Hamptons resident said Uber prices have increased due to demands from “tourists” coming to the area.
Paul Bruinooge / Patrick McMullan

“The bill was $ 300 for four people and we had no alcohol,” said a woman who told Vanity Fair she thought prices were much higher at a Bridgehampton restaurant this year. “We had two iced teas, a curly salad, chicken Caesar salads and oysters.”

A local said he even drove an hour inland on Long Island for much more affordable rides, according to the report.

Even though some people in Suffolk County have a hard time keeping up with the new Jones, there are some newbies looking to put down roots in the seaside sanctuary.

“I would love to see people from Manhattan spending more time in the East to run for public office,” one said recently. post on a Hamptons moms Facebook group would have read.

“…Houses ranging from 5,000,000 to 150,000,000. We are the main source of money flowing through the system here and why shouldn’t more of us be public servants.

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Newsrust - US Top News: Real estate in the Hamptons is getting too expensive: report
Real estate in the Hamptons is getting too expensive: report
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