This as-told-to essay is based on a conversation with Jonathan Yarton, a 27-year-old real-estate agent from Rochester, New York. It’s been edited for length and clarity.
I’ve been a real-estate agent in New York City, Long Island, and the Hamptons for five years. I’m also on the second season of the HBO show “Selling the Hamptons,” and I’m the founder of Finding Space, a weekly newsletter of the trends I’m seeing in real estate.
Six months into my career, the COVID-19 pandemic hit. I started helping people find rentals in the Hamptons as a way to leave the city. I’m also familiar with the Hamptons from visiting with friends.
Two camps of people go to the Hamptons. Some go to retreat and get away from the world, and the other group goes to be around all the people. Both are valid reasons, but you should be informed before you visit, rent, or buy.
The rental market is on fire right now
Inventory for buyers is pretty low in the Hamptons. We’re seeing a lot of the market move over $5 million, and I’m seeing more cash deals for those properties.
This summer’s rental market is hotter than it’s been in the last few years. I’ve rented to clients who have paid $50,000 for a month and clients who have paid over $100,000 for a month. The ultra-premium market can cost $1 million a month.
On the lower end, you do see people renting for just weeks. Due to the 5% tax on rentals under 30 days, we see people renting longer just to avoid that.
Once the borders opened back up after the pandemic, a lot of people ran to Europe. Now, I’m seeing a renewed interest in the Hamptons, even from people not based in NYC, which has been cool. I’ve even gotten some calls from clients in the UK.
Reality TV is giving international exposure to the Hamptons lifestyle, making people more curious to visit, but certain areas are better for visitors than others.
Sagaponack is my favorite spot
Sagaponack is quiet, the houses are gorgeous, the lot sizes are the biggest, it’s the most low-key, and there isn’t everyday traffic like in Southampton or East Hampton. Jimmy Fallon has a house out there, which put it on my radar.
Some of America’s most private people live in Sagaponack. It’s the kind of place where, if you’re driving by, you’ll miss it. It’s not super lively, which is great for celebrities.
Sagaponack is my No. 1 recommendation if you want to be away from the crowds and remain exclusive while having access to the beach and East Hampton.
East Hampton has a bit more to do
People really gravitate toward East Hampton. There’s just a little more life there, with restaurants, designer stores, and things to do.
Sag Harbor has an old fisherman-architecture vibe and feels a little more like a small town, which I love. There’s something very charming about that, especially in the Hamptons, which can feel a little commercial. Every time I’m in Sag Harbor, I feel the local energy. The average house price depends but can range from $2 million to $25 million.
Amagansett is nice, too, but it’s a little far out. Many people are looking for access, and access from Amagansett is tough, especially when you get onto the main strip headed toward Montauk.
In 2024, you would expect cell service to be top-notch, but it’s not what you think it is. You really have to stick at your house out there. Some people love that.
If you’re looking to rent in Amagansett, you should rent at a resort, and if you’re looking to buy, you should buy something with a lot of amenities since you’re farther away from the main activities.
Southampton is the best for retirees
Southampton has the name power and the big restaurants. It also has communities with pools, and your lawn, landscaping, and house color are all taken care of. Keeping up with an estate is a lot of work. In these communities, life becomes the vacation that you always wanted it to be.
Southampton is also a good option to be closer to NYC. For celebrities looking to make it a little faster to the Hamptons, Southampton is where they go; if they’re looking for more activities but a little more off-the-beaten-path, East Hampton is where they end up.
These are the Hamptons hot spots for summer 2024
I always rave about this Mediterranean-inspired restaurant in East Hampton called SÃ SÃ. I love it. The food there is fresh, you get incredible sunsets, and then at night, it turns into a really fun party. It’s absolutely one of the best places to be.
Then there’s Gurney’s in Montauk. It’s well-known, and Sunday nights at Gurney’s will always be popular. People like Surf Lodge in Montauk, too, but it’s a hit or miss for me.
In Sag Harbor, the place to be is Le Bibloquet. People just eat that restaurant up. It’s a staple out there.
Topping Rose in Bridgehampton is very nice for something a little more low-key. There’s also this restaurant called Almond, with LGBTQ+ owners. As a gay man, when I was looking for a community out east, I found it at Almond, which was a very happy surprise.
Did you rent a house in the Hamptons this summer and want to share your story? Email Lauryn Haas at lhaas@businessinsider.com.
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