An off-market listing for an 800-square-foot oceanfront Montauk trailer is in contract to sell for a record $3.75 million, which equates to a cool $5,000 per-square-foot, The New York Post has learned. Located in Montauk Shores, the price point is several times the previous record in the area, where the last highest recorded sale was $1.85 million for a trailer that traded hands in 2022. It’s a high price to pay for sure. When compared to New York City’s luxury market, roughly the same price per square foot — $4,998 — is getting a deep-pocketed buyer a 3,951-square-foot penthouse at the Robert A.M. Stern-designed 30 Park Place in Tribeca that’s now also in contract, according to StreetEasy. However, that Hamptons trailer’s price per square foot pales in comparison to that of a nearly 17,550-square-foot penthouse that listed at Central Park Tower in late 2022 for a colossal $250 million — $14,249 per square foot — which would set the record for the priciest home ever sold in the US if it trades hands for that royal sum. Will Gold with The Atlantic Team at Douglas Elliman represented the unidentified buyer.
“The Ditch Plains area in general is very special. It is an oasis for surfers and beachgoers, and in the past several years has been subject to an extraordinary amount of growth and transformation,” Gold told The Post.
The two-bedroom, two-bathroom mobile home was specially built by John Hummel and features upscale finishes with a contemporary beach vibe. The living room and back deck both have 180-degree views of the ocean. Other features include a gas fireplace, a private deck, a grill, and an outdoor shower. The main suite has a private bathroom.
“Especially since COVID, individuals and families have realized the value of oceanfront communities and are paying up for it,” Gold added. “This beachfront row of units in ‘Montauk Shores’ is the perfect exclusive opportunity to enjoy everything Ditch Plains has to offer.”
The transaction is expected to be completed early next month. The neighborhood, on the other hand, has a basketball court, a playground, a recreation center, and swimming pools. The region is known for drawing well-known and wealthy visitors like Jimmy Buffet, who once engaged in a bidding war for a mobile home on the beach. However, for the extremely wealthy, this neighborhood of trailer parks has come to represent an unusual status symbol. Three people have invested in a trailer in the neighborhood: movie producer Karen Lauder, hedge fund manager Dan Loeb, and co-founder of Vitaminwater Darius Bikoff. Apart from the previous record sale, at least 10 mobile homes there have sold in the past year for amounts ranging from $675,000 to $1.4 million. Additionally, the cost of trailers located nearer the beach is higher.
Article from the NY Post