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A rendering of 12 Eileen’s Path, East Hampton (Corcoran)
When it comes to trophy homes, Hamptonites tend not to trust anyone’s taste but their own. There is always a market for spec homes, custom builds and extensive renovations. In addition, New Yorkers have been fleeing the pandemic, and lockdown-weary residents are eager to enhance their abodes with home gyms and wine cellars. As a result, there’s a booming market for the new.
“New construction is selling at a 25 percent premium to 18 months ago,” said Corcoran agent James Peyton, who represents many new builds and spec homes in the area. “These properties are making deals pre-construction or very shortly into the construction phase.”