Top Elliman Team Targets Hamptons: $15M Sales, 41% Listings Jump

Key Takeaway

• Noble Black & Partners expands to the Hamptons, adding local expertise with agents Averitt Buttry and William Schumann.
• The team's recent success includes a nearly $15 million Sag Harbor home sale and plans a $15.5 million listing in Sagaponack.
• This move adds to Douglas Elliman's strong presence in the Hamptons, amidst a post-pandemic influx of brokerages and an uptick in listings by 41%.

Expansion to the Hamptons: A Strategic Move by Noble Black & Partners

Noble Black & Partners, one of Douglas Elliman's top teams, is making a significant move by expanding its operations to the Hamptons, setting up shop in the firm's Sag Harbor office. This expansion is marked by the addition of two local agents, Averitt Buttry and William Schumann, both of whom bring over a decade of experience in the Hamptons real estate market. Noble Black's decision to expand into the Hamptons is a response to the natural crossover of clients between New York City and the Hamptons, highlighting the strategic importance of having a presence in both locations to better serve their clientele.

The Hamptons Market: A Beacon for Top Brokerages

The Hamptons real estate market has seen a flurry of activity from top brokerages, with Noble Black & Partners joining the ranks of firms like The Modlin Group, Serhant, Christie’s International Real Estate Group, and The Agency. This move comes at a time when the Hamptons market is showing signs of revival, with listings up 41 percent year-over-year as of April. The expansion by Noble Black & Partners is indicative of the market's potential for growth and the importance of local expertise in navigating the competitive landscape of luxury real estate in the Hamptons.

A Competitive Landscape: New York's Luxury Real Estate Market

The transition of sales at an Upper West Side luxury building from The Agency to SERHANT underscores the competitive nature of New York City's luxury real estate market. This shift in sales responsibility for the 15 West 96th Street building, which features residences ranging from $1.7 million to $18.5 million, marks a significant moment in the city's real estate scene. It highlights the ongoing competition among firms to establish and maintain a foothold in the lucrative New York market, where strategic moves and partnerships can significantly impact a firm's success.

The Broader Implications of Strategic Expansion

The strategic expansion of Noble Black & Partners into the Hamptons, coupled with the competitive shifts in New York City's luxury real estate market, reflects broader trends in the industry. These moves underscore the importance of strategic location, local expertise, and the ability to adapt to market dynamics as key factors in the success of real estate firms. For Noble Black & Partners, the expansion into the Hamptons represents an opportunity to tap into a lucrative market by leveraging their New York City clientele and the local expertise of their new team members. Similarly, SERHANT's takeover of sales at 15 West 96th Street demonstrates the firm's agility and ambition in capitalizing on opportunities within New York City's competitive luxury market.

Street Views

• Jonathan Miller (Neutral on the Hamptons' residential market):

  "Inventory itself is expanding, and that’s something that has been sorely missed in the last three years."

Management Quotes

• Noble Black:

  "I’ve long been asked to expand to the Hamptons, but have always hesitated. It’s a natural cross-over with our clients here in the city."