by Richard Lewin from Hamptons Real Estate Showcase.
Stemming the Tides of Change in Montauk
Anyone who has lived on the East End for any length of time has a real estate story about “the one that got away”. “I could have bought a cottage in Ditch Plains for $28,000”, “There was an acre on the ocean for $88,000”. Since Montauk has been “discovered”, there are more of such stories than ever. Every square foot of land at “The End” is accounted for, and experiences regular astronomical increases in market value. Many of Montauk’s original families are cashing out and moving to Florida, the Carolinas and to areas closer to their extended families around the United States. There is now even more pressure on land usage, caused by recent studies suggesting that Downtown and Oceanfront Montauk might have to retreat from rising sea levels.
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