REAL ESTATE

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New Price High
Those predicting "more realistic" prices this summer have not considered the $62.5 million being asked for the 8.9-acre oceanfront estate with 450 feet of beach in Southampton Village nestled between the Atlantic and Shinnecock Bay. Pedigreed with a Meadow Lane address and Francis Fleetwood eight-bedroom, 14-bath main house built in 1988, the property includes a professional putting green, detached office, staff apartment, security room, tennis court and heated gunite pool. Ray Smith of Prudential Douglas Elliman, who has the listing, attributes the aggressive asking price to the fact it's hard to find nine totally private oceanfront acres (two lots were merged) in this area. (Call Smith at 631-283-4343 ext. 285).

Tiny Bubbles
Like an aging bachelor ready to settle down, the Hamptons real estate market continues to embrace quality over quantity with total-package properties remaining in high demand.

In 2005, East Hampton saw a 17 percent increase in residential home sale prices, but an 11 percent drop in number of units sold, according to Suffolk Research Service, Inc. Southampton saw home sales prices increase by seven percent, with 12 percent fewer units sold. Vacant residential land fared better with dollar sales increasing 23 percent in Southampton Town and 36 percent in East Hampton Town in 2005.