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Tearful Reunions: Your Bonus And A Little Strip Of Long Island

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This morning we discussed the fact that after a torturous year of not being able to buy $300,000 cars because of how it would look, many of you are now feeling strong enough and confident enough to go for it without the fear of people calling you a tone deaf douchebag. Well that was just the tip of the iceberg, ladies. No longer having to worry about the "recession" or a lack of bonuses means the Mecca of the the DB, the Hamptons, is once again in style. Sure, it was there last year but it was a sad summer, what with having to dial down the enthusiasm and not not strip naked and roll around in a pile of hundos once you got out there Friday night. Now feel free to do just that, or light the money on fire just because you can, whatever you want, it's now okay.

"It's going to be a good summer," Megan Ruddy said. "Everyone is sick and tired of holding on to their money."

"After people got their bonuses, they said, 'OK, things are going to be normal again,' " Manhattan securities lawyer Daniel Scotti said while checking out a recent open house for an estate listed at $25.9 million in the Hamptons town of Sagaponack.Scotti, the securities lawyer, bought a property in the Hamptons in 2007, at the height of the market. When the stock market crashed, he said, he expected to wait a long time until he could sell without taking a loss. But this year, before even putting the house on the market, he was offered $2.8 million for it — several hundred thousand dollars more than he paid. And then, when Scotti went house-hunting in March, he ended up in a bidding war with four people on a property in East Hampton on the day it was listed.

The change this spring was all the talk among real estate agents at a recent event in Manhattan put on by Corcoran to promote its Hamptons inventory.Caterina Proner told of one couple who asked her to sell their home last year when the bonuses dried up. The house didn't sell, and when bonus season came around this year they went back to Proner. "All the sudden they are back and saying, 'I want to keep it,'" Proner said. "A bonus means a summer house."

You know what this calls for, right? A little celebration.

Hamptons Again Warmed By Wall Street's Glow [LA Times via DI]


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