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Paul Brennan

Paul Brennan
Licensed Associate Real Estate Broker

2488 Main Street
Bridgehampton, NY 11932
Office: 631.537.4144
Mobile: 631.235.9611

2987 Montauk Highway
Sagaponack, NY 11962
Office: 631.537.4144
Mobile: 631.381.2887
Fax: 631.537.9104

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In the News

It's a looker, but is it also a seller?

Oh, how to sell a $25 million-plus house? Especially one designed by Christie Brinkley's likely soon-to-be ex-husband, architect Peter Cook.

That's the real ticket for the 18,000-square-foot new mansion in Bridgehampton that's hosting this year's Hampton Designer Showhouse, a fundraiser for Southampton Hospital that opened Sunday.

At least some agents asserted that the recent real estate market softening on Long Island won't derail the sale of this and other uber-luxury homes on the market out east, although others said some properties are vulnerable.

Peter Brennan, regional manager for Prudential Douglas Elliman Real Estate in Bridgehampton, said prime oceanfront property and classic homes in the traditional estate sections come on the market rarely and when they do, they usually sell at their asking price. With the market slowing, other properties may not sell as quickly, he said.

Prices haven't come down yet, but not many people are buying, he said. At least eight to 10 large homes, built on speculation like the Southampton-based Burns Development showhouse, are now on the market in the $15-million to $20-million range. "They were started in the midst of the frenzy, and now the frenzy has stopped," Brennan said.

Still, said Joe Kazickas, principal broker in the East Hampton office of Brown Harris Stevens, big houses in good locations continue to attract buyers.

Will Cook's house sell?

"It probably will," he said. "At what price is the real question."

Maryanne Robinson, who sells such high-end homes for Prudential Douglas Elliman Real Estate in Southampton, said East End buyers in this market want quality. That means houses finished with upscale fixtures and the finest hardwood, windows and doors available.

And there's another non-negotiable: "The land," she said.

The showhouse is on 4 acres.

As for whether any serious potential buyers have been wooed for 141 Highland Terr., showhouse organizers could not be reached last night.

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