Rare Opportunity: Bids Accepted for Sea Spray Cottages Unit in East Hampton

For the first time since 2010, a lease on a unit at East Hampton’s Sea Spray Cottages on the ocean has come up for auction.

The minimum bid is $40,000 for a May 9 to September 14 stay at the one bedroom, one bath cottage.

Village Administrator Becky Molinaro explained that the winning bidder will have the option to renew annually with a 3 percent price increase.

“It’s a very, very special location and we think it’s a unique opportunity for anyone who wants to be in the village for the summer,” Molinaro said, also pointing out that the Sea Spray Cottages are adjacent to Main Beach, which Dr. Beach picked at the Best Beach in America in 2013.

Back in 2010, all 13 units were put out to bid when the village decided not to renew its existing contracts and aim for rental prices closer to the market rate.

The minimum bid for the same unit in 2010 was $35,000. It is known as Unit #14; the unlucky number 13 was skipped over when the units were assigned numbers. This particular unit lacks the ocean view that many others boast, but it is a standalone unit, so it has more privacy than some units that are attached.

It is a sealed bidding process. Bids must be received at village hall by 2 p.m. January 27. For an application, plus to schedule an appointment to view Unit #14, email June Lester at jlester@easthamptonvillage.org.

BACK TO Real Estate News

 

Please log in to vote


You need to log in to vote. If you already had an account, you may log in here


Alternatively, if you do not have an account yet you can create one here.