Long Island Cheat Sheet: Rents rise across LI as high-end supply trails demand … & more

Rents rise across LI as high-end supply trails demand Long Island’s newest and nicest apartments are being snapped up by young professionals and well-off people without children, thereby driving up the prices of the high-end rentals, Newsday reported. In Nassau County, the average rent for a units in multifamily buildings was $2,257 in the first[…]

Hamptons Cheat Sheet: Longtime staff take over Ben Krupinski’s construction firm after his tragic death … & more

Longtime staff assume leadership of Ben Krupinski’s Hamptons construction firm after his tragic death After developer Ben Krupinski’s June 2 death in a plane crash in the waters off Amagansett, two longtime employees of his luxury home building business have begun running the company, 27East reported. The two men, Stratton Schellinger and Ray Harden, assumed leadership at the[…]

Long Island Cheat Sheet: Berkshire Hathaway enters LI market with Laffey International deal … & more

Berkshire Hathaway lands on Long Island with Laffey International deal Laffey Fine Homes International, based in Greenvale, will join Berkshire Hathaway franchise network founded and run by Warren Buffett. The new Long Island franchise is the California-based Berkshire Hathaway’s first foray into the Long Island market, Long Island Business News reported. The local company, which[…]

Hamptons Cheat Sheet: Jury finds East Hampton responsible for erosion damage in homeowner suit … & more

Jury finds East Hampton Town responsible for erosion damage in homeowner suit A federal jury ruled that the town of East Hampton Town is responsible for the erosion damage to many private properties, in a case brought against the town by homeowners. Homeowners sued the town and other government agencies over jetties built in the[…]

Long Island Cheat Sheet: Foreclosure mail scam targets Nassau homeowners … & more

Foreclosure mail scam targets Nassau County homeowners In recent weeks, 2,700 scam letters have been sent to Nassau County residents claiming they “need to take immediate action to keep your home” or that “property taxes have not been paid” and could soon be foreclosed upon. The mailers apparently came from a private law firm, which CBS reported[…]

Hamptons Cheat Sheet: Chronic flooding threatens to sink the value of Hamptons homes … & more

Chronic flooding threatens to sink the value of Hamptons homes Hamptons homes are very likely to lose value given that they’ll face chronic flooding as climate changes and sea levels rise over the coming years, according to Bloomberg. Behind only Central California, the area has the second highest level of its property tax revenue at risk[…]

Long Island Cheat Sheet: Designer’s Oyster Bay home hits the market for $19.5M … & more

Designer Oleg Cassini’s home in Oyster Bay lists for $19.5M The onetime home of Oleg Cassini, who designed clothes for Jacqueline Onassis, has hit the market for $19.5 million, Newsday reported. The late designer’s widow recently landed in jail amid a protracted legal dispute over his fortune. The Italian Rennaissance style mansion, which was built[…]

Long Island Cheat Sheet: Suffolk’s May home prices were up 10% year-over-year … & more

May’s Suffolk home prices were 10 percent higher than the year before — the biggest increase in a decade Home prices across Long Island rose over the past year, according to the Multiple Listing Service of Long Island. Suffolk prices rose 10 percent — the county’s greatest year-over-year spike since 2005 — to a median price[…]

Hamptons Cheat Sheet: Vichinsky brothers reign supreme in ranking of East End’s top brokers … & more

Vichinsky brothers again rank first in TRD’s annual list of East End’s top brokers Zachary and Cody Vichinsky of Bespoke Realty secured the number one spot on TRD’s annual list of East End’s top brokers for the second year in a row, pulling in $247 million in sales between April 2017 and March 2018. The[…]