Fishing Report From Our Own Jennifer Linick

They're baaaaack! The schools of Striped Bass are swimming north, following the warming waters (52 degrees being their impetus) and the running schools of herring, squid, bunker, porgies, sand worms, clams. What a menu! They wintered over in the Chesepeake and in their migration to warmer waters they can head as far North as the Cape. I fished for them as they made their way south in November as one of the few women surfcasters in the Montauk Locals Annual Tournament....which I didn't win. But it's not the wining or losing. It's being THERE at sunrise, chatting it up with my old time fishing buddies, listening to the screeching birds, playing the blitz. And now for some early spring fishing. Slowly I repack my car with freshly cleaned and oiled gear, and WD40 my rod rack for my new rod with my very own name in gold: GEORGICA JENNY (named after my fishing spot of choice).

It is, after all, why we are here.

Fairway Restaurant at Poxabogue closed after 20 years

Sunday was the last day of business for the tiny cafe at the Poxabogue golf course and driving range, and after its nearly 20 years in residence, a legion of regular customers was there to pay respects.

“We raised all four of our grandchildren here, and we watched Danny’s kids grow up here,” nearly tearful patron Pam Levy said of owner Dan Murray as she paid her check and gave longtime Fairway chef Michael Grant a long hug. “It’s like an appendage. Everything in East Hampton has changed. Here, they kept it the way it used to be. Now it’s going to change too.”

The fate of the Fairway was sealed last Thursday when a personal appeal by members of the Southampton Town Board failed to convince Poxabogue’s manager, Ed Wankel, to adjust the terms of the restaurant’s lease. Mr. Murray has said the terms of the lease offered to him by Mr. Wankel, who was awarded a five-year management contract by the towns of Southampton and East Hampton in 2007, are unfairly restrictive of his business.

“It’s despicable what they’re doing to him,” longtime customer Sandy Keidan said on Sunday.

Southampton and East Hampton towns purchased the Poxabogue property in 2003, using money from the Community Preservation Fund to save the golf facility, the only public golf facility in Southampton Town, from residential development. After negotiating annual leases for the restaurant space with Mr. Murray for four years, in 2007 the towns agreed to include control over the restaurant lease in the management contract for the entire property.

“We made it very clear that we would prefer to see Dan stay,” said Southampton Town Councilman Chris Nuzzi, who spearheaded the efforts to convince Mr. Wankel to renew Mr. Murray’s lease in recent months. “I don’t fully understand the reasoning behind his decision. He keeps reiterating that his offer was refused, and that he had proceeded forward, looking elsewhere, and that’s the direction he wants to continue to go.”

To read the entire article, pick up the Mar 31 issue of The East Hampton Press or the Apr 1 issue of The Southampton Press.

East Hampton Village Beach Update

One of our top agents just returned from a trip down Main Street to East Hampton Village Hall with the terse report that only 160 parking stickers for Summer, 2010, remain. This means that if you are counting on going to one of the Village Beaches this Summer, you had better make tracks to Village Hall or you're going to be biking or walking to the beach. Forewarned is fore armed (or something like that).

A Decade Long Snapshot of The Hamptons Real Estate Market

Thanks to the Miller Samuel people and Prudential Real Estate, we have a very concise and graphic way to tell the story of Hamptons real estate since the turn of the millenium. Basically, as you can see from the graph, the number of sales as well as the average sales price marched upwards in a sustained and rather manageable fashion from 2000 to 2005. At that point the true pricing bubble (shall we call it "irrational exuberance") took hold and while the number of sales declined, the pricing skyrocketed for another two years or so, until the whole thing collapsed along  with the rest of the economy in '08. The last two years have seen very low levels of activity and declining prices which have combined to create a weak buyer's market in general, albeit with pockets of some strength. There are some indications that the market has hit bottom and is beginning to strengthen although it is a slow and tenuous rebuilding process, to be sure.

Nobu Popping Up In The Hamptons Summer 2010

It's 2007 all over again with the announcement that Nobu will be popping up in the Hamptons this summer. After landing at the Ross School three years ago, partner Richie Notar is searching for a new East Hampton location to serve up his seasonal sushi. But if you're thinking of getting a table, forget the phone unless you're a FON (Friend of Nobu). Notar says, "With all our regular customers, can you imagine trying to navigate reservations the normal way?" [GrubStreet]

The Hamptons Take The Bronze in Resort Locations.

With luxury home prices at an apparent bottom, Wall Streeters -- and others whose bonus packages have already rebounded -- are re-emerging as buyers with the chance to score bargains and return the second-home market to its former glory. For those lucky investors, Barron's has ranked the top 10 spots for vacation homes, taking into account how far prices have dropped from their peaks in each submarket. Perennial New York favorite the Hamptons came in third, with prices coming in at a median $1.5 million, 30 percent off their peak. The posh vacation spot ranked as less desirable than Maui, which took the top spot with prices down 27 percent, and Kiawah Island, S.C. (No. 2), where prices are down 21 percent. Florida favorite Palm Beach ranked seventh and Captiva/Sanibel Island ranked eighth. Palm Beach and Capitiva/Sanibel Island homes prices are down 11 and 40 percent, respectively, each to a median $3.5 million. Gasparilla Island, a favorite of actor Harrison Ford's off Florida's southwest coast, was 10th on the list. The median price is $1.8 million, down 18 percent form its peak. [Barron's via WSJ]

East Hampton Beach Parking Permits on Sale Now

by Nick Epstein

Remember, 2010 beach parking permits go on sale in early February.

This is info from the Village of East Hampton...

"Non-resident permits are limited in number and are issued on a first-come, first-serve basis. Violators may be towed and subject to a mandatory $125 fine."

"You must display a valid village parking permit on your vehicle from May15th through September 15th. Main Beach and Two Mile Hollow Beach are the only village beaches where you can pay by the day for parking - $20 per day, weekdays only, not available on weekends or holidays. Village parking permits are free to residents of the village and cost $300 per vehicle for non-village residents with a valid vehicle registration. Parking permits go on sale in early February."

To get more information on how to get a beach parking permit go to East Hampton Village - Beaches. The Hamptons Web Beaches Page has a listing of the beaches in each town and which permits are required.