By Lieba Nesis
Much has been made of the cooling off of the Hamptons vacation market-but all indications point to a busier than ever weekend this July 4th. At the end of May The Real Deal and CNBC breathlessly reported about the 30% reduction in Hampton rental prices as Douglas Elliman’s Enzo Morabito exclaimed, “there is a tremendous amount of inventory and people are not renting it… from the very low to the very top of the market.” And yes Bloomberg said sales of $10 million homes have plummeted from 74 in 2019 to a paltry 32 this year-however, they acknowledged the sluggish market was largely due to lower supply. The market may have slowed compared to the two years of Covid where a gut wrenching pandemic left New Yorkers desperately scrambling to the Hamptons without the option of traveling to a closed off Europe; However, having vacationed in the Hamptons for the past ten years the trends I am seeing this summer are indicative of a full blown explosion of foreigners, locals and New Yorkers inhabiting the Hamptons in record numbers.
Firstly, the hotels which are normally vacant three or four weekends of the summer, are currently booked until mid-September to October. I casually walked into the 1708 House in Southampton and they said their next weekend availability was Columbus Day October 15th-ditto with the Southampton Inn which is full for the entirety of weekends from June-August. The rental vacancies can be explained by people’s aversion to paying for an entire month if they are heading to Europe for two weeks, however the hotel market is hotter than ever. Moreover, the dozens of weddings and parties taking place has left hotels such as the Southampton Village Motel, the East Hampton House, and the Southampton Inn completely booked.
The convenience of the Hamptons which is a mere two hours from New York makes it an irresistible choice for those seeking refuge from a muggy New York and these numbers have only increased as people conduct much of their business from their homes. The Jitney bus which costs $44 from New York to the Hamptons is similarly sold out for every time slot nearly every weekend and restaurant reservations at hotspots such as Bilboquet and Tutto Il Giorno have become a near impossibility to obtain.
The past three weekends the Southampton Social Club has endured lines down the block and has had to close its doors due to overcapacity-formerly unheard of during the month of June. If you are looking to book a last minute reservation to the Hamptons for July 4th weekend-good luck! Unless you are willing to stay on the highway, every decent hotel is occupied except for the Maidstone in East Hampton where one room is left at an exorbitant $7,000 for three nights.
The Hamptons is replete with dozens of billionaires-this past week alone we learned one of its wealthy inhabitants purchased the privately-owned Montauk airport to the chagrin of East Hampton inhabitants who are concerned over increased noise and environmental issues. I have never heard of a 3,200 landing strip with one small hangar and office being offered for $18 million but all bets are off in this wealthy enclave. The best part of the Hamptons is the off-the-chart parties and this weekend will be unparalleled. The festivities are starting earlier than ever with The American Heart Association hosting a sunset social reception at the Wolffer Estates in Sagaponack on June 29th with tickets for the general cocktail reception starting at $500. Friday night billionaire Andrew Farkas will be hosting his annual party at an undisclosed location as friends furtively discuss the upcoming shindig. My guess is it will take place at The Montauk Yacht Club-which he owns.
Saturday July 2nd will be the biggest night of the entire summer. Real Estate developers and Bridgehampton residents Maria and Ken Fishel will entertain hundreds at their black tie red-white-and-blue themed gala with party planner to the stars Preston Bailey quarterbacking the festivities.
Billionaire Fanatics mogul Michael Rubin will be hosting his annual white party at his $50 million Bridgehampton estate where Robert Kraft, DJ Khaled, The Chainsmokers, Meek Mill, Charlie D’Amelio, Alex Rodriguez, Jay-Z and Beyonce, Puff Daddy and dozens of other luminaries are expected. This invite is so coveted a black market has popped up for an impossible to get invitation. July 2nd wouldn’t be complete without Washington Post heiress Lally Weymouth’s party which is held at her estate in Southampton. There will undoubtedly be a smattering of politicians from every side of th aisle including Don Trump Jr., Chuck Schumer, Ray and Veronica Kelly, Carl Icahn, Kellyanne Conway, Chris Ruddy and possibly Republican gubernatorial candidate Lee Zeldin.
If Rudy Giuliani is in attendance let’s hope Eric Adams stays away and anyone else desirous of slapping the former mayor. I am nearly certain party hopper Eric Adams will make his way to the Hamptons this weekend to hobnob with the uber-wealthy. For those “plebeians” who are not invited to the hottest of hot parties July 4th Montauk will be hosting fireworks by Grucci at Umbrella Beach beginning at 9 PM and you can later head to Stephen Talkhouse in Amagansett to watch “The Revivalists”-and revive yourself with some libations after a long holiday weekend.
