Weekend Get-Aways of NYC Moguls
To get away from the sweltering heat of New York City, many of it’s elite residents head for nearby Long Island to take in some ocean breezes from their vacation homes in the one of the “Hamptons” villages including the Quoque or Sagaponack communities or Southampton Village, but others head for more faraway places.
One property developer spends his weekends in Sagaponack, New York. The Village of Sagaponack was listed in 2009 as the most expensive small town in the United States by Business Week Magazine. So what does it cost to keep a summer home in America’s luxury zip code (11962)? In July 2012, Zillow listed the median home price in Sagaponack at $4.25 million—less than a quarter million lower than it’s high in 2009 at $4,421,458.
Nearby Southampton Village offers a more affordable option with the median list price at $1,285,000 for July 2012. Quogue home prices center around $ 2.75 million, up nearly 20 percent over 2011 prices.
Confusing to outsiders, the Town of Southampton includes seven villages and multiple communities and other “Hampton’s” communities are part of East Hampton. In addition to Sagaponack and Quogue, Southampton’s other incorporated villages include East Quogue, Shinnecock Hills, North Sea, Water Mill, Bridgehampton, Hampton Bays, Westhampton, Westhampton Beach, Westhampton Dunes, Southampton Village and part of Sag Harbor.
East Hampton includes the other part of Sag Harbor, East Hampton Village, Amagansett, Montauk, Northwest Harbor, Springs and Wainescott.
While the official boundary of “the Hamptons” actually begins about ten miles to the west at Westhampton, But, the Shinnecock Canal that joins Hampton Bays to Great Peconic Bay, is the popular dividing line. Northampton, a hamlet further west in the Town of Southampton generally is not included in the references to “The Hamptons” and the Shinnecock Reservation of the Shinnecock Indian Nation is adjacent to Shiinecock HIlls and the Village of Southampton, set within the Town of Southampton’s borders but not included in the designation of “The Hamptons.”
For more tropical weekend getaways, some New Yorkers head for Palm Beach Island, Florida. Separated from the mainland by the Intercostal Waterway, Palm Beach Island’s resort status was established in the late 1800s on the 16-mile-long barrier island. While the city retains a year-round population, most are considered to be “affluent” and more than half are over retirement age. The median home price on the 10-square-mile island is just under one million at $960,000 for July 2012.
Maine Vacation Spot
While the Hamptons are convenient and Florida is a great tropical getaway, some of New York’s elite residents head north instead to Ogunquit, Maine. Named by Yankee Magazine as a “Best Beach Town” in New England, Ogunquit offers sand, water and sun in a windswept locale along Maine’s southernmost coast. Other communities nearby include York and Wells. There are three miles of white sandy beaches and a cliff walk known as the Marginal Way that follows the coast for a mile and a half. Downtown Ogunquit is a quaint seaside city filled with speciality shops. Known as an artists’ haven, the resort town is just 70 miles from Boston so is easily accessible. Seaside luxury rental homes range from $2,500 to $5,000 per month and luxury resorts can run upwards of $6,000 to $10,000 per month (depending on the season).