Wednesday, December 15, 2010

Have we really seen the bottom of the market? Plus it's like a bedroom farce with 20% gratuity.

Prudential Douglas Elliman released it's 3rd Quarter market overview for the Hamptons and the North Fork. In a nutshell a little bit of bad but better than expected with some very positive points. How so? Well, the inventory and price indicators were below the prior year and prior quarter. This is primarily due to the shift away from those high-end trophy properties. Meanwhile, the number of sales was up from the prior year! They're also selling faster than they did last year. If you want to read the complete report you can go to Prudential Douglas Elliman's website; So, finally I got the scoop on what's going on at Nichols in East Hampton but it's not a simple answer. Don't worry folks the haunt which boasts such celebrity clientele as Sir Paul McCartney will feature those same deep fried breadsticks. Apparently the former owner of Ziggy's in Bridgehampton is the new proprietor of Nichol's. I have to say Ziggy's was a great little place with good food and friendly staff, let's hope they can keep it going in East Hampton. Meanwhile, the former staff of Nichols is rumored to trying to do it on their own. After the last owner sold some of the employees said they want to try it for themselves. Yep, they're going to open their own restaurant and are currently shopping for a location. Almond in Bridgehampton shut it's doors last weekend after a long and extremely successful run. I heard they're also shopping for a new location, no word yet on where they're going. The rumors I've heard floated is owner Eric Lemonides is going to Sag Harbor in the former JLX Bistro. Also heard that Michael Gluckman of Boathouse fame just sealed a deal for the old Prime 103/Peconic Coast site. Meanwhile, some restaurants currently on the market for sale include Bamboo and to many folks surprise Della Famina! Apparently Jerry is selling more than his house. I guess this isn't exactly news since he said to the Wall Street Journal back in September "basically, everything I own is up for sale," Mr. Della Femina said, including his restaurant and newspaper. Della Famina went on to express his cynicism about the direction of the economy. Finally, some warm holiday wishes from the agents of Prudential Douglas Elliman in the Hamptons.

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