11/11/16 6:03am
Abandoned vineyard

117 acres of open space in Mattituck and Cutchogue, now the site of an abandoned vineyards, has been sold for $8.5 million. (Credit: Vera Chinese)

Nearly 120 acres of Mattituck and Cutchogue farmland has changed hands in a multi-million dollar deal that will surely be one of the North Fork’s largest real estate transactions this year.

The development rights of the property, located along Route 48, Elijah’s Lane and Oregon Road, are intact.

The parcels, which include an abandoned vineyard and a handful of buildings, sold for $8.5 million, according to Joseph DiVello of Albertson Realty, who negotiated the deal.

He declined to identify the buyer. (more…)

03/23/15 10:00am
This two-bedroom bungalow on Park Creek is renting for $32,000 for the summer season. (Credit: Courtesy of Sheri winter Clarry, The Corcoran Group)

This two-bedroom bungalow on Park Creek is renting for $32,000 for the summer season. (Credit: Courtesy of Sheri winter Clarry, The Corcoran Group)

The median home price in Southold Town crept up to $490,000 in 2014, the highest its been since Lehman Brothers declared bankruptcy in 2008 and more than $50,000 above than the 10-year low of $440,000 in 2010 and 2011, according to figures from Suffolk Research Service Inc. By comparison, though, median home prices in Riverhead Town have been sluggish, falling to $322,000 in 2014, down from $345,000 in 2013.

Those strong sales in Southold correlate with a hot rental market — and now is the time when those with disposable income are deciding where to spend their summer holidays, according to local agents. (more…)