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The SPARK Exchange: Is Hamptons Waterfront Property Still the Ultimate Investment?
The SPARK Exchange
Real Talk About the Hamptons Real Estate Market with the East End’s Top Brokers
Is Hamptons Waterfront Real Estate Still the Ultimate Investment?
What’s on the market now, where prices are headed, what buyers should know, and whether owning on the water remains one of the Hamptons’ strongest long-term investments.
Waterfront real estate has long been the crown jewel of the Hamptons market. But with record prices, rising insurance costs, climate concerns, and limited inventory, is buying on the water still a smart investment? We asked some of the East End’s most respected brokers to weigh in on today’s inventory, pricing, buyer demand, and what every waterfront buyer should know before making a move.
Enzo Morabito – The Enzo Morabito Team – Douglas Elliman
People who go to the waterfront—no matter who you are, rich or poor—it’s like a dream for them. In America, and all over the world, the dream is to be by the water.
I never really had the drive to go to the waterfront; it’s so confronting. I’ve always been lucky that I can be a guest on the waterfront at any time. It’s something else to be there.
On Long Island, you could go from $350,000 for a waterfront lot to $50 million or $100 million—it all depends on how much money you have to spend.
In the Hamptons, there’s very little inventory. That being said, with $1 million to $3 million, you could get something on the water. I can think of a few places in North Sea, East Quogue, and Westhampton Beach. Is it going to be wide-open, bayfront waterfront? No, but it’s still magnificent.
I tell everyone, “Do you have money to spend? Then yes, go buy waterfront property if you can afford it.” Cryptocurrency, gold, silver—whatever you’re betting on as an investment comes and goes, but waterfront property—if it is stable—it’s magic.
Anyone who comes to me and says, “I want to sell my waterfront property,” my first question is, “Do you have to? Because if you don’t have to, don’t.”
Keith Green – Ann Ciardullo & Keith Green Team – Sotheby’s International Realty
Waterfront property in the Hamptons is in a league of its own.
For the past few years, I’ve been part of a team that is reimagining a waterfront home for my family in Sagaponack that just appraised for close to $75 million. We’ve left no stone unturned. Why? Because people who can afford to even consider these rare lifestyle choices simply want it all … literally.
So why does it make sense? Waterfront properties (along with many of our great estate homes) no longer price by the “rules of real estate” — with calculations based on acreage, square footage, amenities, and room count. Instead, these homes trade more like the art market, where something is worth what someone is willing to pay.
The Hamptons will forever be the primary playground for the greatest city on Earth. If you believe that to be true (AND IT IS!), then you understand that this is the opposite of a risky investment. The next decade is going to push this market to extraordinary highs. Our friend Kyle Rosko has a wonderful home for sale on Dune Road in Bridgehampton for $45 million that is simply extraordinary.
Benjamin P. Dixon – Dixon Advisory Team, Douglas Elliman
Waterfront property remains one of the Hamptons’ most coveted and scarce assets.
While opportunities exist across a range of price points, from a few million dollars to well over $100 million, truly exceptional waterfront homes rarely come to market.
One of my clients searched for nearly three years before purchasing a waterfront estate on Shelter Island for nearly $13 million. One Pandion sold for $12.85 million, just $100,000 shy of the previous record set on Shelter Island by 2 Charlie’s at $12.95 million. That same market continues to demonstrate strong demand, with a smaller waterfront home on the island selling this year for nearly $16 million.
Waterfront can be an excellent long-term investment because the supply is finite, but buyers need to look beyond the view. Elevation, flood risk, insurance costs, shoreline protection, and the overall quality of the location all matter.
The best waterfront properties continue to command strong demand because they’re simply impossible to recreate.
John Frangeskos – Corcoran
Inventory remains tight throughout the Hamptons, but especially for waterfront properties. There is consistently strong demand for homes with private docks, open-water views, or the opportunity to build on the water.
While buyers should always consider factors like flood zones, elevation, and maintenance, the right waterfront property remains one of the most compelling long-term investments in the Hamptons.
A great example is my newest listing at 35 Gardners Lane in Hampton Bays, offered at $1.775 million. It provides a rare opportunity to own waterfront at an attractive price point, featuring three independent structures—two residences plus a detached two-car garage with a studio above—along with a private dock, 80 feet of waterfront, Resort Waterfront Business (RWB) zoning, and room for a pool on 0.44 acres. It’s a unique property that offers flexibility as a private compound, investment opportunity, or waterfront retreat, making it one of the more compelling waterfront values currently on the market.
Kieran Brew – The Kieran Brew Team – SERHANT.
Waterfront properties are the least risky in the Hamptons—at least from a financial standpoint. Waterfront, and especially oceanfront, keeps going up and up, faster and faster.
A home I sold on the ocean in Montauk for $7.5 million 10 years ago traded for $25 million last year. My listing at 21 Fairfield Pond in Sagaponack raised a lot of eyebrows when we listed it for $89 million—until the neighbor came on at $152.5 million.
Even small homes on the water in Noyac and North Sea can be in the $4 million range. So while some people may fear the effects of sea level rise, buyers just don’t seem to be worried about it.
