REAL ESTATE

INSIDE STORIES BEHIND AREA REAL ESTATE DEALS

Hail, Victoria
Great history still has its place as the Hannibal French House on Main Street in Sag Harbor, an impeccable 1800s Victorian Italianate beauty, keeps Sag Harbor residential prices aloft. Arguably the most beautiful home in the nicest part of town, this prize of a house allegedly went to contract for just under $7 million. The 6,500-square-foot gem with original ornate detail on Captain's Row, known on walking tours as the "most lavish mansion in Sag Harbor," even has a full ballroom and heated pool, which is rare for town houses in this section. Current owners Maureen and Marshall Cogan are expected to remain in residence through September.

Manifest Destiny?
With south-of-the-highway parcels becoming increasingly rare (and pricey), the choice for prospective buyers new to the Hamptons is to go north—or pay the hefty south-of-the-highway asking prices. A solution for creative brokers? Paint a glamorous picture of lands north of Rte. 27 and give it a trendy acronym, like NOH (pronounced, "N-O-H"). Corcoran is doing just that with full-page ads in local newspapers promoting NOH glamour. The prejudices against residing on the north side are similar to ones that existed (and still exist) in Palm Beach. For years, many Palm Beachers considered it declasse for the well-to-do to live anywhere other than on Palm Beach Island (which is separated from West Palm Beach by the Intracoastal Waterway).