HousingWire

Homebuyers flock to the Hamptons

August 28, 2013

Full of endless amenities and luxuries, the Hamptons braved the housing crisis mostly intact, experiencing only marginal drops in summer renting and car and boat sales. But even so, the town is picking up steam again as the landscapes become laden with building signs. Per The New York Times:

“We’re as busy as we’ve ever been,” said Joe Farrell, the president of Farrell Building, during a recent interview and tour of his $43 million, 17,000-square-foot home here. The estate, called the Sandcastle, features two bowling lanes, a skate ramp, onyx window frames and, just for fun, an A.T.M. regularly restocked with $20,000 in $10 bills.

With a customer base composed largely of Wall Street financiers, Mr. Farrell has more than 20 new homes under construction, or slated for construction, at a time, making him the biggest builder here by far. He has plans for more, many of them speculative homes built before they have buyers.