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Added: April 11, 2008, 11:03 am

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State Of The Art Real Estate

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Amagansett must be proud of native son Harold McMahon (whose Mom, Iantha, is celebrated for her Math teaching skills in East Hampton High. Everyone had to and could learn and that was it!). McMahon, whose family owned plumbing, heating, and cesspool businesses has graced that hamlet since 1950, and built a state-of-the-art medical building and professional office complex on Gansett's easterly border.

Having survived what this writer remembers as a painful experience getting things done, McMahon, a stickler for detail, constructed down home and friendly looking office space which has amenities that are green and aesthetically pleasing. From the clapboard siding to the radiant heated flooring, to over 90 percent efficient heating, to thermostats in every unit for conservation, to soundproofed walls, to wainscoting throughout – even in the spotless, radiant floored basement space available for storage rentals. It is no wonder the offices are all filled with accountants, attorneys, land planners, doctors, therapists and more.

The complex has snowmelt sidewalks and snowmelt areas in the parking lots. There are service elevators in the two one-story buildings and a passenger elevator in the one two-story building.

Property listed with Town & Country Real Estate.


I was given the tour by foreman John Stafford, who knows his stuff and is a Sag Harbor firefighter to boot. Our volunteer first responders are all heroes to me. So, for any of you builders and users, too, it is worth taking a look at this exceptional complex.

A mystery: Why aren't more of you taking the opportunity to promote yourselves and your product? Is it because the space is free? Well, it seems perverse, but you can always pay for an ad. Honestly, realtors should take the time.

Like the enterprising Melinda Potosky, a Texas broker and Realty Takes fan who has the initiative to expand her market. Melinda writes: "I am sending real estate information from the Dallas area. The market is unsteady in this area. However, the high-end homes are still going up. Either the market isn't as bad as the media claims or there are a lot more people with a lot of money to spend on new construction."

And from Town & Country Real Estate, CEO Judi Desiderio - a 2007 sales report: "A better year for North Fork Real Estate than 2006 across the board. The eastern most hamlets of Southold - New Suffolk, Peconic, Orient (including East Marion and Greenport) posted gains in all price categories as well as in the three criteria monitored by Town & Country – number of sales, total sales volume, and median sales price. Southold and Orient realized 33 percent gains in the number of sales from 2006 to 2007. Southold total sales volume leaped 53 percent from $67 million to $103 million – helped by the 200 percent increase and 100 percent increase in the $1-$1.99 million and $2-3.499 million prices ranges, respectively.

"The weakest market was Jamesport (including Aquebogue and Baiting Hollow). Unlike others, the higher price categories suffered much of the loss with an 83 percent drop in the $1 million to $1.99 million category and 100 percent elimination of the $2 million to $3.499 million price range.

"In Mattituck (including Laurel and Cutchogue) the only significant change was a plunge in the $2 million to $3.499 million price category from ten in 2006 to four - a 60 percent decline. Although Mattituck saw volatility, the Median Home Sale Price rose nine percent to $519,500 from $477,500.

"All North Fork markets combined, showed modest gains in all three criteria with the number of sales up six percent, total sales volume up seven percent and median sales prices up five percent - better across the board, proving, in my opinion, the stability of North Fork real estate as a #1 hedge against inflation. The most notable increase in activity for all North Fork markets combined was the $1 million to $1.99 million price range with a 42 percent leap from 36 percent in 2006 to 51 percent in 2007."

Wow! This just in about 104 Gin Lane mentioned last week from Telemark Construction's Frank Dalene: "Lona, yes we did the gut renovation of the main house. We have been involved in this property since Marty Richards owned it. Sorry, we know but we can't tell, it is not Tiger."

Meanwhile, though East End real estate is a very strange business, we did okay in the World Poker Tour Ladies No-Limit Hold'em Tourney. At least we got that right.


For more information, click here.


Lona Rubenstein is an accomplished author residing in East Hampton. Her new book, "Getting Back in the Game: Finding the Fountain of Youth in Cyberspace" can be found at local booksellers and online at www.gettingbackinthegame.com. For more real estate news and views contact Lona at lonafirst@aol.com.




Comments

Guest (George Simpson) from Southampton says:
The data from JD on the market is late and incomplete. Does it cover all properties or just homes? What is her source - I guess Suffolk Profiles. The data does not present the picture of 2007, because in the middle of 2007, the market turned down.

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