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July 15-31, 2006


REAL ESTATE

Deeds and Don'ts
By Scoop Drummond and Heather Buchanan

INSIDE STORIES BEHIND AREA REAL ESTATE DEALS

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Got the Point
Expect an announcement soon that East Hampton Point, above, has been sold. Price and details were not available at press time. When queried on the rumored sale, exclusive broker Judi Desiderio, president of newly opened Town & Country Realty, offered this: "My lips are sealed." However, we've been told closing is expected some time after Labor Day. When the property was listed early in the season at $55 million, skeptics expressed doubt that the waterfront restaurant/hotel/marina complex would bring anywhere near the asking price. Whatever the final number is, it's sure to be a record for a commercial offering of this nature.

Living Large
Pity the poor soul whose style quotient is so intense that anything less than a hail of precious gems just won't do. Recently I found myself thrust into being the local adviser to friends of mine who said they wanted a charming Hamptons house to rent for the month of August.

In so doing, they'd be leaving behind their vast waterfront summer estate in mid-coast Maine, a Fitzhugh Lane seascape that looks towards the shores of Portugal, which are practically visible on a clear day.

My friends thought a local rental would be nice for the children so they could spend some time near their chums from school.

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