Would-be second home owners who pooh pooh the idea of hiring a pool boy can snap up oceanfront property in Montauk for mere millions – $2.5 to $6.5 million to be exact – at the Panoramic View on Old Montauk Highway. Since the luxury development company Distinctive Ventures snapped up the property in 2007, a rapid transformation has turned cramped hotel rooms into spacious bi-level living spaces overlooking the Atlantic, and all the amenities are included.
So far 10 units have been sold, with 10 more on the block, and owners who have discovered the Panoramic way are reaping the benefits of full-service resort living without the hassle of maintenance.
Real estate broker Ed Bruhel, who has been busy selling off units like hotcakes as banks have relaxed into post-recession, second-home financing, implied that Panoramic neighbors like Robert DeNiro and Ralph Lauren have gotten the short end of the stick by purchasing homes they have to manage themselves.
“Bernie Madoff’s house was two over from here and that sold for $9.4 million. That’s 3,000 square feet and that’s a lot of work,” said Bruhel. At the Panoramic, “[owners] show up, we fill the fridge, we have housekeeping, we clean the car, we do the dry cleaning, we meet the plumber…everything’s easy.”
Nestled on 10 acres with 1,000 feet of beachfront, the residences boast some of the best views on the East Coast. While the beachfront is sparsely spotted with umbrellas (De Niro’s are yellow, a few hundred yards to the right), residents are entitled to “all the amenities of a resort – cabanas, chair services, towel services,” said Bruhel.
For those who would rather not get sand on their feet, a newly renovated pool shares the same striking view. There is also a fitness center, slated to undergo its own facelift as the Panoramic transformation continues and more quaint and cozy hotel rooms are turned into turn-key residences.
Viking appliances, Bosch dishwashers and Sub-Zero refrigerators, remote-controlled fireplaces, high-definition cable, and top-of-the-line sound systems are all part of the package, Bruhel explained. Each unit’s hot tub is situated on a private deck overlooking the Atlantic, attached to furnished-to-order bedrooms. The Distinctive team provides the ultimate in concierge service, and if owners are out of town, “we can rent if for them, for a month or longer.”
According the Bruhel, buyers are most captivated by the view. “The quality is shocking, but the beachfront is really unparalleled. There’s no 65-foot elevation anywhere [for sale in the Hamptons]. It really is dramatic, but the service is the touch where they can’t believe that it’s this good.”
Potential buyers who want to check out the residences can swing by the resort on Old Montauk Highway, where Bruhel can show them around. Not ready to part with your millions just yet? Resort rentals are soon to be renovated as well – check out www.distinctiveventures.com on the Web for details. [/expand]