Owning a big apartment in New York City is great, but having a mansion in the Hamptons is a privilege only the 1% of the 1% can enjoy.

Last year, then-Forbes reporter Morgan Brennan broke down the who's who of one of the most exclusive streets in the Hamptons — Southampton's Meadow Lane.

Not only does it have access to a long stretch of private beach, but the median sale price of a home here was just under $18 million in 2012, according to PropertyShark, making it the most expensive street on the East End.

The five-mile road even has a helipad to whisk its famous residents off to Manhattan.

Meadow Lane is one of the most expensive addresses in the country, and no wonder — it runs along a coveted beachfront strip in one of the most exclusive towns in the Hamptons.

Source: Forbes

The famous millionaires and billionaires who live there all reside within throwing distance on the same stretch of road.

Source: Forbes

Daniel Och, CEO of Och-Zipp Capital Management Group, has a 4-acre estate valued at $20.4 million with a 7,000-square-foot mansion.

Source: Forbes

East Hampton may be known for its over-the-top real estate, but the homes of today don't hold a candle to the estates of last century.

The Library of Congress recently released hundreds of lantern slides (hand-colored glass transparencies) of old gardens, including some images of gardens in East Hampton 100 years in the past.

We combed through the pictures and, where possible, figured out what happened to the properties.

THEN: This is the Greycroft Estate on Huntting Lane in East Hampton. It was built in 1894 by capitalist Lorenzo Guernsey Woodhouse and his wife, Emma.

Source: 27East

These photos of the estate, also known as the Stephen Swete Cummins house, were taken in 1913.

NOW: The Huntting Lane estate belongs to Alan Patricof, a venture capitalist. He even named one of his funds Greycroft, after his home.

Source: Blockshopper, CNN

If you're headed up to the Hamptons this summer, it might be a good idea to hire your own driver.

According to The Southampton Press, police departments across Suffolk County have announced a concentrated crack down on drunk driving and boating. This is the third summer of the East End DWI Task Force, which has seen 364 DWI arrests and several for boating while intoxicated.

Related businesses are looking to cash in on the problem, to the annoyance of some Hamptons police. The designated-driver service Main Street Drivers has partnered with a local defense attorney Eddie Burke Jr., who specializes in DWI arrests, Page Six reported.

The promotion used signs sporting “Hire a Sober Driver Tonight, not a Good Criminal Defense Attorney Tomorrow,” and similar slogans around the Hamptons. Although it was approved by local officials, some cops still objected that it violated town codes.

It's a pretty clever campaign, because it's likely you'll end up needing either one or the other. Hopefully Burke doesn't get too many calls, but if bad decisions are made, at least you have some back ups.

Stay safe, everyone.

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A Hamptons home that's belonged to the same family for more than 30 years has just gone on the market, according to The Wall Street Journal.

Dating back to 1904, this Water Mill mansion currently belongs to the Nash family. The late Jack Nash was the co-founder of the hedge fund and private-equity firm Odyssey Partners.

Nash passed in 2008, and his wife, Helen, has put the house on the market with Corcoran.

The home sits on Mecox Bay and includes amazing panoramic water views, gardens, and even a livable water tower.

This is the expansive, waterfront Hamptons property of the Nash family. It has been with the prominent family for more than 30 years.

The compound sits on six acres and 500 feet of water frontage on Mecox Bay. The property is said to have stunning Linden maple and dogwood trees.

The home itself is approximately 8,000-square-feet with 6 bedrooms and 8 bathrooms.

I’m not a typical “Hamptons Guy”, per se, but I’ve definitely spent my fair share of time out there, being both a native Long Islander and a career Wall Streeter for as long as I have – it’s been fairly unavoidable. This weekend I’ll be visiting my dad at his house in Quogue and then hitting a big-time clambake at a beachfront manse in East Hampton. I’m excited for both, I must confess.

Nicholas Colas, chief strategist at ConvergEx in New York, has an entertaining note out this morning using the Hamptons as a barometer for Wall Street confidence…

The Hamptons are, in fact, the most perfect litmus test of New York/Wall Street financial confidence available.  This has been true since the Long Island Rail Road built the Montauk branch in the 1870s.  That development – along with electrification of the line in the 1920s – made the 90 mile trip possible for affluent-but-not-crazy-rich New York families, allowing them to enjoy the longest sand beach on the eastern seaboard just like the Vanderbilts and DuPonts. The Long Island Expressway didn’t make its way to Exit 70/71 until the 1960s; it was a very long drive indeed before that.  Add a few golf courses over the years (Maidstone, Shinnecock and National), one gorgeous lawn tennis club (Meadow), and a posh social registry (the Blue Book) and you have a summer recipe for wealthy New Yorkers that remains unchanged from the 1920s.

On the surface, the upcoming July 4^th weekend in the Hamptons has all the earmarks of a very confident New York/Wall Street community and we trot into the back half of 2014. Just a few data points here:

• The newest and nicest hotel in the Hamptons at the moment is the Topping Rose House, refurbished in 2012 after a long period of disrepair and also substantially expanded. Rooms here during the summer go for $2,000/night and often have a 2-3 night minimum. They are sold out this weekend.

• Nick & Toni’s may not be the fanciest place in East Hampton, but it has a serious celebrity following.  And this July 4^th weekend, you’ll need that status to get a table. They are fully committed from Friday to Sunday during dinner hours.

• Pierre’s in Bridgehampton has had its ups and downs in terms of service quality over the past few years, but the food has always been like a quick trip to Antibes or Cannes.  They ship their own special rose wine over from France for the summer season – it’s usually all gone by early August.  They have availability for dinner at 5:45 or 6:00 pm, which for many French restaurants is almost lunch hours. So book early, book often, order the blue bottle of rose and wait for the rest of the world to shuffle in at 8pm…

• If you are young and lively, the Capri Hotel in Southampton is your scene.  Last summer the guest restaurant on the property was Nobu.  This year it is BLT Steak.  There is a serious singles scene by the pool. And yes, they are sold out this weekend.  And next weekend.  Mid-August is available for $462.33/night…  Until it isn’t.

So, you get the idea – the transient community has a few bucks to throw around. 

Josh here – My advice to for the young money: Get your Gatsby on, kids. For next summer may not be as carefree and cheery as this one is.

Source:

“Nicholas Colas, chief market strategist at ConvergEx Group, a global brokerage company based in New York.”

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Rich people. They're doing well these days!

For proof, look no further than the Hamptons, the fancy collection of towns on the Eastern tip of Long Island, where the region's elite spend their summer weekends. Josh Brown points us to a note from Nick Colas of Convergex which lays out a few facts about how well things are going in the area.

Here's a few bullets from Nick:

· The newest and nicest hotel in the Hamptons at the moment is the Topping Rose House, refurbished in 2012 after a long period of disrepair and also substantially expanded. Rooms here during the summer go for $2,000/night and often have a 2-3 night minimum. They are sold out this weekend.

· The most popular aspirational real estate site in New York is www.hreo.com – the common listing service for the Hamptons. A few clicks and you’ll find that there are +2500 entries for houses that will cost you over $1 million. Yes, there are a few dupes, so let’s cut that number in half. That still makes for 1200 houses out there at $1 million and up. Want to live like an old school Wall Street mogul? The original Merrill house (yes, that Merrill) is on the market for $98 million. Bad news – the property abuts a public beach parking lot. For $100 million…. And yes, the place is rock star amazing.

· Pierre’s in Bridgehampton has had its ups and downs in terms of service quality over the past few years, but the food has always been like a quick trip to Antibes or Cannes. They ship their own special rose wine over from France for the summer season – it’s usually all gone by early August. They have availability for dinner at 5:45 or 6:00 pm, which for many French restaurants is almost lunch hours. So book early, book often, order the blue bottle of rose and wait for the rest of the world to shuffle in at 8pm…

· There are a total of 16 houses and apartments available from the Shinnecock Canal to the Montauk town line for less than $325,000 – the average price of a home in America. One is a mobile home. The others are condos or small cottages of 700 square feet or so. There are 3,400 listing over this price point on hreo.com.

Good times!

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Another incredible Hamptons estate is up for grabs.

Known as "Angel View," the 15,000-square-foot estate in North Haven is selling for an astronomical $65 million through Harald Grant of Sotheby's.

Although the identity of the owners is private, Grant told The Wall Street Journal that they are looking to downsize now that their children are grown up.

The home sits on 6.5 acres and has 500 feet of waterfront on Noyack Bay. Amenities include a "grotto" room with an indoor pool, two outdoor infinity pools, and a tennis court.

Welcome to the "Angel View" estate in North Haven, near Sag Harbor.

The Tudor-style home has had the same owners for the past 18 years.

The six-bedroom, eight-bathroom mansion is designed with wood accents.

NEW YORK — If you're planning to take the Long Island Rail Road back from the Hamptons on Sunday, you might want to start thinking about a Plan B.

Weekend beach-goers have been scrambling to book alternative options to get back to Manhattan — from rental cars to seaplanes — to prevent being stranded if a strike by LIRR workers shuts down train service as early as 12:01 a.m. on Sunday.

Many services are already sold out, with wait lists, organizers said.

“We are getting a lot of inquiries about reservations for Sunday — people asking us how much it would cost to rent a car here and drive it back to the city,” said Dillon, an employee at Enterprise Rent-A-Car in Southampton, who declined to give his last name.

Some vacationers are already thinking about cutting their trips short.

"I've already booked a 9 p.m bus ticket to return to the city on Sunday but I might change it to an earlier time if there's a strike," said Dayanara Fromenta, 39, who was hopping on a bus from the Upper East Side to East Hampton on Wednesday morning.

"Sunday traffic is always bad in the Hamptons, but if there's a strike everyone is going to take the bus and it's going to be even worse," she added.

The MTA has announced some contingency plans for a strike, including shuttle buses from Long Island to subway stations in Queens, but the buses won't start running until Monday morning and will be extremely limited.

“This shuttle bus service should be considered only as a last resort,” the MTA said on its website.

If you don't want to cancel your Hamptons trip, here's how to get back to the city on Sunday without using the Long Island Rail Road:(YOU CAN ALSO CLICK HERE FOR THE FULL LIST OF CITYWIDE TRANSIT ALTERNATIVES)

Buy a Bus Ticket

Hampton Jitney has several buses leaving from the Hamptons on Sunday and is working on a strike-related contingency plan set to be released soon, a spokesman said. 

Andrew Lynch, Hampton Jitney's vice president, told 27east.com that the company was working with other companies to add more buses to its routes on Sunday. 

A one-way ticket from the Hamptons to Manhattan costs $28 if you book online, and there were still seats available for Sunday as of Wednesday afternoon.

Hampton Luxury Liner, another bus company serving the Hamptons, also has several departures on Sunday, with the last bus leaving East Hampton at 3:50 p.m. It’s $40 for a one-way trip and you can book your ticket online.

Rent a Car

Several car rental outlets allow you to rent a car in the Hamptons and return it in the city. Some companies apply an extra fee (up to about $100) for that service.

“People tend to book their car very last minute on Sunday and usually when they call I don’t have any cars left, so the sooner you book the better,” said Pamy Ericson, who manages car rentals for Budget Southampton NY Rent-A-Car and the Southampton Avis location.

For $12 to $14.50 per hour, Zipcar members can take out a car in Manhattan and drive it both to and from the Hamptons. Zipcar does not offer one-way trips, so you’ll need to return the car to its reserved parking spot.

Take a Taxi

Several taxi companies operating in The Hamptons can bring you back to the city. Fares from West Hampton to the Upper East Side are about $220 to $250 for a car of four people, depending on the company. Add approximately $50 if you are leaving from East Hampton.

“The sooner you book your taxi the safer because it’s going to be a busy weekend,” said Matt Crouthamel, head of Matt’s Car Service and Uneedaride? Car Service. Crouthamel’s companies have a fleet of five vehicles including two 14-passenger vans.

Fly Home

If you can’t stand the idea of being stuck in gridlock — and if you’re willing to spend a little more — hopping in one of Sound Aircraft Service's planes might be a solution.

On Sunday, the company has two flights leaving at 4:30 p.m. and at 6:30 p.m. from East Hampton Airport. It will take 45 minutes to fly to Skyport Marina on East 23rd Street, and a one-way ticket costs $550. There is already a waiting list for Sunday, but the company said it is trying to add more flights.

Booking a charter is also one of your options. For about $3,600, you can be back on Manhattan in less than 50 minutes. Companies such as New York Helicopter or HeliNY provide charters that can accommodate up to 6 people. They have several pickup locations in the Hamptons and can either land at the Downtown Manhattan Heliport or on West 30th Street and 12th Avenue, depending on your arrival time. On Wednesday, both companies said they still had availability for Sunday.

If your group is smaller than six and don’t want to share your flight with strangers, Awesome Flight provides the same service for a maximum of three passengers. The price tag for a charter coming back from the Hamptons on Sunday is approximately $1,590. As of Wednesday, the company was still talking reservations for Sunday.

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Hedge fund tycoon Scott Bommer has flipped his Southampton estate for more than $80 million just a year after buying it for $75 million, reports The Wall Street Journal's Candace Taylor.

Bommer, founder of SAB capital initially listed the expansive property on Lake Agawam for $98 million in March.

The historic estate, called Wooldon Manor, previously belonged to shoe tycoon Vince Camuto. It sold as two separate parcels: the 10,000-square-foot home and 2 acres, which were bought by a "New York family" for $50 million, and a 12-acre plot, which went to a developer.

The estate — which has a gorgeous pool, pool house, formal gardens, a romantic greenhouse, and tennis court — had been owned by both the Woolworth family and Edmund Lynch, a founding partner of Merrill Lynch.

Wooldon Manor sits on the iconic oceanfront drive, Gin Lane.

Source: Sotheby's International Realty

The property sits on 14 acres of land; it was sold as two separate parcels.

Source: Sotheby's International Realty

Inside, the vaulted ceilings have exposed beams and skylights.

Source: Sotheby's International Realty

Goldman Sachs Managing Director Nicholas Valtz was found dead at 2 p.m. on Sunday off the coast in Long Island, The Southampton Press reported. After Valtz went kiteboarding and failed to return, Valtz' family went looking for him and found his body in Napeague Harbor.

Valtz, 39, worked in cross-asset sales and was promoted to managing director in 2010, according to Bloomberg. He joined Goldman Sachs in 2000. His wife Sashi Valtz is also a Goldman Sachs employee.

Napeague Harbor is a popular kite surfing location for both beginners and more advanced surfers. Bloomberg cited a police statement, saying that Valtz was still secured to his kite when he was found. Additional kitesurfing gear was found in a grassy area nearby.

"We're deeply saddened by this tragedy and our thoughts are with Nick's family," Goldman Sachs spokesperson Michael DuVally told Bloomberg in an emailed statement.

East Hampton police are still investigating Valtz' death.

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The sale of the country’s most expensive residential property has resulted in a multimillion dollar lawsuit.

Barry Rosenstein, founder of hedge fund Jana Partners, bought the mansion in East Hampton in May for $147 million.

Now, brokerage Corcoran claims that it is owed $8.82 million in commission and damages after the firm was allegedly cut out of the deal. Corcoran maintains that it was hired as the broker to sell the property.

Rosenstein bought the 18-acre, beachfront estate from its former owners Christopher Brown and Andrew Gordon.

The lawsuit was filed on Wednesday in Suffolk County.

According to the suit, Corcoran President Pam Liebman and broker, Tim Davis, met with the trustees of the estate in January. The suit alleges that they had exclusively been picked to market the property for $150 million. Rosenstein reportedly thought the price was too high and brokered a deal with the estate’s representatives.

“This dispute is between the sellers of the property and a broker claiming to represent them. Mr. Rosenstein, as the buyer, should not be a party to the complaint and we are confident the court will see it that way as well,” according to a spokesperson for Rosenstein. [NYP] – Claire Moses

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After bouncing on and off the market for at least 5 years, Billy Joel has finally sold his Hamptons home for around $19.95 million, reports Newsday.

The Piano Man had relisted the Sagaponack mansion for $23.5 million earlier this year.

Curbed speculates that the home had a tough time finding a buyer because it didn't have a pool, which practically a requirement for Hamptons homes.

The mystery buyer's new digs include a beachfront view, piano room, and recording studio situated in the fifth most expensive zip code in the country.

This is the view as you enter through the wooden gate.

You can gaze off the patio and look at your 145 feet of oceanfront property.

The home has classic Hamptons shingles.

Everyone knows that hotels are expensive in Manhattan, but Montauk?

A small oceanfront hamlet at the very tip of Long Island's south fork, Montauk is now officially the most expensive place to stay in New York State this summer, according to NewYorkHotels.org.

Montauk used to be a quiet, laid-back town filled with immigrants and fishermen, but recently it has become a Hamptons hotspot that has hip restaurants and pricey hotels that cost an average of $342 per night—almost $200 more than the average hotel room in Manhattan.

NewYorkHotels.org ranked the most expensive destinations in New York State by the average cost of a hotel room this summer. The hotel booking site looked at hotel rates during the month of August, and only considered hotels and bed and breakfasts that are rated at least 3 stars and are well situated near the beach or city center. 

Besides Montauk, several other Hamptons towns took top spots on this list, with East Hampton coming in second at $332 per night and Southampton coming in fourth at an average cost of $295 per night. Surprisingly, New York City came in at number 8, with rooms costing a mere $153 per night. 

The full list is below: 

1. Montauk $342 

2. East Hampton $332 

3. Saratoga Springs $312 

4. Southampton $295 

5. Greenport $264 

6. Cooperstown $184 

7. Niagara Falls $163 

8. New York City $153 

9. Geneva $143 

10. Ithaca $142 

11. Lake George $141 

12. Buffalo $137 

13. Oneonta $136 

14. Rochester $134 

15. Syracuse $128 

16. Alexandria Bay $127 

17. Long Island City $116 

18. Oswega $103 

19. Lake Placid $102 

20. Watertown $92 

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The flight from New York City to East Hampton takes about 45 minutes. The same trip by car—or the storied Hamptons Jitney—on a busy summer weekend can take hours.

So, for a certain breed of Hamptons resident willing to pay the price to avoid spending a significant part of the weekend sitting in traffic, a flight to the East End can make all the difference. 

That’s precisely why Jeff Smith, executive director of the Eastern Regional Helicopter Council, is working with a group called Friends of the East Hampton Airport. Their aim is to keep the airport—which could lose its rights to operate as it does now later this year—running smoothly.

Here, at the height of the Hamptons summer season, Smith explains why air traffic is a small price to pay for the economic health of the South Fork.  

Why is the East Hampton Airport in trouble?

This has been going on for quite a few years, but this is what I call the magic year. At the end of this year, because of a third-party legal settlement, the FAA has agreed not to enforce three grant assurances that come along with taking taxpayer money. The airport took taxpayer money 13 years ago and with that came 20 years of assurances that said anybody who wants to can fly in or out of East Hampton airport, but this legal settlement says they have to give back those rights seven years early—meaning December of this year.

What does that mean for people who commute to the Hamptons on helicopters or planes?

What the town plans on doing is putting restrictions on times for seaplanes, helicopters and jets, which make up 56 percent of the revenue that comes into the airport. The airport needs severe maintenance, and the town is saying they will pay for those improvements by farming that out to the local taxpayers. But if you take away 56 percent of the revenue, how can you pay for anything?

How are the opponents of the way the airport currently operates able to justify that kind of loss?

The answer is that they think they can still afford it. They’re also putting bans and restrictions on some of the area’s biggest property owners. Are they going to be told to drive? That’s not going to happen. What will happen is people will start selling their homes and nobody will want to go out there because of limited access. That will put a huge burden on the town. We did a study last year saying the indirect spending by those people who fly in is, at minimum, $49 million each year. That means jobs in hotels, restaurants and in private homes. Those are jobs that these people are paying for.

Surely driving isn’t the only option.

People can fly into Westhampton, which means it will only be a few years to drive to East Hampton. The heaviest traffic out there starts at the merge into East Hampton, and then you have to drive on a two-lane highway. You could be looking at a two-hour drive after you land.

Still, plenty of people mange to visit the Hamptons without flying. Sure it’s convenient, but is it really a necessity?

There’s a study we did with NYU that gives a lot of background information on this. If you look at the people who go out there, more drive than fly, but out of the people who fly there is a much larger population of people who are spending money. There is a direct correlation between being able to fly out there on a helicopter and spending money in the area.

The complaints about the airport seem to be mostly about noise.  

They’re claiming that it’s an issue of noise and quality of life, that the noise is wrecking people’s weekends. The thing is, it’s a very small group of people in the large scheme of things, but they’re very vocal.

So what’s standing between this small group of people and what you’re asserting is common sense? 

Most of the people in this group are property owners and developers. East Hampton airport has 600 acres of property; one of these people owns 40 acres on the north side of the airport and another is a luxury homebuilder. I believe there is an underlying motive that has nothing to do with noise. If the FAA did a study, I believe it would have inconclusive findings regarding a noise problem, and that’s why the town is funding their own study and hiring their own experts.

Do you really believe that people could abandon the Hamptons? 

In the old days, people went out to the Catskills. That used to be the ultimate summer destination for New Yorkers. Until, of course, air traffic became more affordable and it bankrupted the whole area. People just walked away from it, and the same thing can happen to East Hampton. Opponents of the airport say people will just take the Jitney; they think these billionaires will get on a bus to come out here. That’s not going to happen.  

More From DuJour:

Private Jettiquette 101: The Eight Golden Rules
The Jet Set’s Spectacular Crash
Why Private Planes are the Ultimate Accessory 

SEE ALSO: Here's Where To Eat And Drink In The Hamptons

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Richard Gere is having difficulty unloading his North Haven mansion: The actor recently dropped the price on the Hamptons property to $47.5 million, according to Curbed Hamptons.

Gere first listed the 6.3-acre estate in July 2013 for $65 million. The price was later lowered to $56 million.

It's now listed with Douglas Elliman.

The property, known as Strongheart Manor, was built in 1902 and comes with two guest houses, an outdoor fireplace pavilion, and a dock that looks out onto the water. It's been renovated and expanded to include 12 bedrooms and over 12,000 square feet of space.

Welcome to Richard Gere's $56 million Strongheart Manor.

It sits on over six acres of land and has covetable views of the bay.

Inside, the home has over 12,000 square feet of space with six fireplaces.

The CEO of J.Crew, Mickey Drexler, is selling his Hamptons home for a whopping $26.5 million. 

Douglas Elliman listed the 3,500-square-foot Wainscott home, which includes 315 feet of ocean frontage on one side and views of Wainscott Pond on the other.

Drexler bought the three-bedroom house in 2008 for $17 million. 

But don't worry, Drexler is not leaving the Hamptons anytime soon. He also owns two properties in Montauk, including a $30 million compound that belonged to Andy Warhol and an $11.4 million ranch. 

Welcome to Mickey Drexler's Hamptons home in Wainscott, New York.

The 3,500-square-foot house is nestled on 2.3 acres right in between Wainscott Pond and the ocean.

Taking a peek inside, it's no surprise that the CEO of J.Crew has good taste.

Sen. Rand Paul (R-Kentucky) is taking some heat after he was spotted at a party hosted by liberal actor Alec Baldwin in the Hamptons in New York at about the same time of a Christian event in Iowa that he had said he would be unable to attend because of a "family commitment."

According to a Tuesday report in the Des Moines Register, Paul's appearance at the Baldwin event raised eyebrows in Iowa. It also resulted in some thinly veiled criticism from the head of the Family Leader, the conservative Christian group that organized the event Paul missed.

"If you want to be at a fundraiser in the Hamptons with the rich and famous, you probably ought to tell people you want to be at a fundraiser in the Hamptons with the rich and famous," Bob Vander Plaats, the organization's president, said.

Several other conservative pols looking to run for president, including Sen. Ted Cruz (R-Texas) and Texas Gov. Rick Perry (R), made sure to appear at the Family Leader event on Saturday. Paul, a libertarian-oriented Republican is also contemplating a White House bid. However, he isn't necessarily a favorite of the evangelical Christian crowd.

The East Hampton Library fundraiser Paul attended was cosponsored by Baldwin, the New York Post's Page Six reported Monday. Because of Baldwin's well-known liberal leanings, the paper said it was the "biggest surprise" that Paul, former New York Gov. George Pataki (R), and Fox News host Bill O'Reilly to all show up.

According to Page Six, Paul reportedly spent the event "schmoozing for free and getting tips on where to go in Montauk for a lobster roll." Paul's office told the Des Moines Register that the senator really did have a family commitment in New York and the Baldwin event was simply an additional event he attended while in the area.
 

"Fancy Hamptons fundraiser" and "family commitment" aren't necessarily mutually exclusive. He's w/ his wife after all pic.twitter.com/k6HJMT3mBo

— McKay Coppins (@mckaycoppins) August 13, 2014

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The estate of late cable and telecommunications entrepreneur Richard Treibick has listed his Hamptons home for $34.99 million, according to the Wall Street Journal. The home is located on 31 acres of beachfront property in Sagaponack, in the Hamptons. 

Treibick, the former chairman of Cable Holdings and Cellular Information Systems, died earlier this year. The Sagaponack property was his summer home, with his primary residence in Greenwich, Conn.

The estate is made up of two parcels: a 6,000-square foot house and 23 acres of adjacent farmland. Treibick leased part of the land to local farmers, using the rest to grow vegetables and berries. A barn, greenhouse, and shed sit on the property.With seven bedrooms and multiple decks, the house itself is gorgeous.

The pool deck is a great place to relax with family and friends.

And there are plenty of options for dining outside when the weather permits.

You're never too far from the beach on this property. A private boardwalk leads down to the sand.

And there are plenty of ways to enjoy the view.

SEE ALSO: The 10 Biggest Tech Billionaire Yachts On The High Seas

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Time to hit the panic button: There's apparently a shortage of rosé wine in the Hamptons, which is bad news for anyone headed out east this weekend for a final summer hurrah.

According to The New York Post, the rosé supply at several hot Hamptons restaurants and East End wineries has already run dry.

Restaurants including Red Stix in Water Mill and Surf Lodge and Navy Beach in Montauk have reportedly run out of certain popular labels, and a representative from Wölffer Estate in Sagaponack told the Post that the vineyard had already sold out of two of its more popular rosé wines.

The general manager at Lieb Cellars on the North Fork told Business Insider that they had temporarily run out of rosé in their East Hampton tasting room, but planned to restock before the the weekend. Its 2013 Bridge Lane Rosé is still available in its two other tasting rooms and online.

And Channing Daughters, a winery in Bridgehampton, was nearly sold out of all seven rosé varieties it had made this year. A representative for the winery told us they do have a few magnums of their Rosato do Merlot available, hopefully enough to last through the weekend.

At least one restaurant promises to be well-stocked. Pierre Weber, owner of Pierre's in Bridgehampton, assured us that they had plenty of magnums of Nationale 7 Rosé and Whispering Angel on hand for a "big and very festive weekend." He did warn, however, that the swank seafood spot would probably run out of some top-selling labels post-Labor Day.

And the CEO of Bedell Cellars on the North Fork in Cutchogue said the winery's tasting room was amply stocked with Taste Rosé, and that he had "dispatched our sales team to the Hamptons today to help stem the shortage"— phew!

It's not the first time the Hamptons have found themselves high and dry before the close of summer. The Post reported on a similar panic back in 2012.

Rosé wines have become increasingly popular as a summer quaff over the past few years. Vogue declared it "the drink of summer" in May, and the co-founders of Instagram feed @yeswayrose explained to the magazine: "We think rosé got a bad rap for a while because of the misconception that it was the same as the sweet white zinfandel your grandmother used to drink, but wine lovers seem to have become more knowledgeable and are accepting rosé for the sophisticated and versatile wine that it is."

SEE ALSO: Where To Eat And Drink In The Hamptons This Summer

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A family from the midwest dropped an eye-popping $300,000 to rent a mansion in Bridgehampton for a single week this summer, The New York Post reports.

That's a new Hamptons rental record, according to the post.

The home, dubbed the "Sandcastle" in Bridgehampton, has made headlines before. Jay-Z and Beyoncé reportedly spent $400,000 to rent it for a month in August 2012.

The Sandcastle was built by well-known Hamptons homebuilder Joe Farrell, and has a movie theater, bowling alley, walk-in refrigerator, wine room, climbing wall, basketball court, private gym, and spa.

Still, $300,000 is a ton of money for a week's vacation. Corcoran has the rental listing.

Callie Bost contributed to this story.

The Sandcastle sits on 11.5-acres on swanky Halsey Lane in Bridgehampton.

It has about 31,000 square feet of living space.

Here's the formal living room — complete with an intricate ceiling design and fluffy pillows.