“Montauk’s Best Kept Secret” says the motto on the Montauk Shores Condominium Resort community website.” That ‘best kept secret’ statement is hardly accurate any more, as news headlines on both sides of the Atlantic Ocean are proclaiming the record sale of “A Trailer in the Hamptons Sells for $3.75 Million,” per Curbed. The New York Post proclaimed: “A trailer in a Hamptons billionaires’ bunker sells for a record $3.75M.” In the U.K., otherwise known as jolly old England, the Independent’s article’s banner blared: “People are divided after trailer in the Hamptons sells for $3.75m: ‘Only in America’.” While that price for that specific area may be a new record, the location, location, location and allure for the rich and famous that pulls billionaires to Montauk Shores has been known to longer term MHProNews and MHLivingNews readers for years. For instance, in 2017, the report below is one of several that have been previously published by our publications about that tony surfside locale. Unfortunately, as the graphic linked here reveals, the Manufactured Housing Institute (MHI) and their endorsed buddies at MHInsider each show “no results” on the date shown for this hotspot. Odd? Given that promoting such real-world examples could be used to elevate the image and understanding of manufactured homes to the curious or often paparazzi- and elite-impressed public.
Billionaire Hedge Fund Manager – Elite Couple’s Manufactured Home
ManufacturedHomeLivingNews.com has also published reports about Montauk Shores, and others that also mention its magnetic pull.
So, what’s the attraction?
According to the MontaukShoresResort.com website, “Approximately 900 feet of waterfront coastline provides access to world class surf fishing and surfing. Of course, if you just enjoy treasure hunting for sea shells or beach glass or just relaxing, you can do that too.” The still from the video posted further below reveals a swimming pool and other features, but then, there is a beach with the Atlantic Ocean just a short walk for any resident or guest of this popular community.
Curbed said, “A single, 800-square-foot beachfront mobile home in the Hamptons just sold for $3.75 million. This extremely expensive trailer beat the area’s previous record for an extremely expensive trailer, which sold last year for $1.85 million.”
Mary K. Jacob for the New York Post said, “An off-market listing for an 800-square-foot oceanfront Montauk trailer is in contract to sell for a record $3.75 million, which equates to a cool $5,000 per-square-foot, The Post has learned.
Located in Montauk Shores, the price point is several times the previous record in the area, where the last highest recorded sale was $1.85 million for a trailer that traded hands in 2022.
“It [Montauk Shores] is an oasis for surfers and beachgoers, and in the past several years has been subject to an extraordinary amount of growth and transformation,” [buyer’s real estate agent Will] Gold told The Post.
Custom-built by John Hummel, the two-bedroom, two-bathroom mobile home boasts high-end finishes with a modern beach vibe.
Features include 180-degree views of the ocean from the living room and back deck, a gas fireplace, a private deck, a grill and an outdoor shower. The primary suite has its own bathroom.”
Curbed said: “The trailer is part of Montauk Shores, a luxury community of mobile homes that now includes a number of billionaires. “The Ditch Plains area in general is very special,” the Douglas Elliman broker who represented the buyer told the Post, calling the spot “an oasis for surfers and beachgoers.” Yes, surfers and beachgoers like the co-founder of Vitaminwater, Darius Bikoff, and billionaire Dan Loeb of the hedge fund Third Point. Jimmy Buffet, sadly, lost a Ditch Plains trailer bidding war in 2005.”
Sure, the mainstream media’s terminology is ‘wrong’ to use the term ‘trailer.’ But if MHI, and/or their surrogates such as MHVillage’s MHInsider were seriously interested in raising the industry’s profile and image, wouldn’t part of that strategy logically include how updated mobile homes and HUD Code manufactured homes are appreciating, and in the right locations, attracting millionaires and billionaires? From there, you can further inform the public about proper terminology.
Said Jacob for the NYPost, “It’s a high price to pay for sure. When compared to New York City’s luxury market, roughly the same price per square foot — $4,998 — is getting a deep-pocketed buyer a 3,951-square-foot penthouse at the Robert A.M. Stern-designed 30 Park Place in Tribeca that’s now also in contract, according to StreetEasy. However, that Hamptons trailer’s price per square foot pales in comparison to that of a nearly 17,550-square-foot penthouse that listed at Central Park Tower in late 2022 for a colossal $250 million — $14,249 per square foot — which would set the record for the priciest home ever sold in the US if it trades hands for that royal sum.
Will Gold with The Atlantic Team at Douglas Elliman represented the unidentified buyer.”
Speaking of Gold. The U.K. Independent’s U.S. edition insight into the amazing $3.75 million U.S. dollar, nearly $5,000 per square foot deal has obtained additional insights from real estate broker Gold, as well as other sources.
After four to six months of back-and-forth negotiating, Gold said the owner agreed to sell the trailer for $3.75m.
Gold also clarified that, although the Montauk Shores complex is often referred to as the “trailer park,” the trailers are “not technically mobile homes”.
“That may have been how it started off, where people were just dropping off mobile trailers, but now it’s turned into people own the lots, and based on the size of the lot, you can pretty much put whatever size property you can fit,” he said, adding that all of the trailer homes are on slabs and do not have foundations.
The purchase price of the trailer marks a new high for the area, as the previous highest price for a trailer was $1.85m in 2022.
Gold said he expects the property values in the area will now increase as a result of the latest sale.
“Even without this sale, the property values have been increasing year over year, in Montauk as a whole, but especially in Ditch Plains,” he said.
On social media, the exorbitant purchase price for the trailer has people divided, with some questioning whether the home is really worth the amount.
“Real estate is the oldest ponzi of them all. Imagine paying $3.5m for a trailer?” one person tweeted, while another said: “Only in America. A buyer is plunking down $3.75m for a luxury mobile home in a trailer park in the Hamptons. Gives a whole new meaning to trailer trash.”
However, others suggested the location of the trailer makes it worthy of the price.
“Location, location, location,” one person wrote.
Gold says there is currently another trailer up for sale in the area for a more reasonable $2m.” ##
Part II Additional Information with More MHProNews Analysis and Commentary in Brief
Note: the real estate listing video below was not part of any of the reports shown above. It is an example of the types of updated mobile homes and manufactured homes found at this trendy location on Long Island, NY. It is in the Montauk Shores Condo resort, in the same community that had the reported $3.75 million dollar sale. Millionaires and billionaires live here.
Here is another video listing a multi-million dollar ask for that property.
Notice: the image collage below can be expanded to a larger size.
See instructions below graphic or click and follow the prompts.
This 12-year-old video gives clues as to what the attractions are for those with the money to afford such images.
Yes, the overheated real estate market in the post-COVID moves heated up for the better part of 2 years. That is a factor to consider in higher end sales prices like this one. But for years, the rich and famous at getaway spots deemed luxurious have attracted the rich and famous. Furthermore, be they pre-HUD Code mobile homes (MH), or post-HUD Code manufactured homes (MH), there are several reports – examples linked below – of high-end makeovers of existing MHs that for someone with deep pockets that is willing to pay for the ‘location, location, location,’ it can mean an extraordinary outcome for sellers and their buyers.
Part of the takeaway from reports like this one and those linked is that many of the dynamics that impact valuation in conventional housing apply to manufactured homes too. Is a home in good condition? Is it well maintained? Does it have curb appear? What about the location? Is there limited supply of ready-to-move in properties and excess demand?
What is “affordable housing” depends on the size of the wallet of those who are seeking the dwelling. For the lifestyles of the rich and famous, above, there are stories to tell. For the more down-to-earth budgets of everyday Americans, the ideas shared below can resonate too.
Millions of more Americans could and should be owning a manufactured home rather than renting an apartment or house. Millions could demonstrably buy a new manufactured home instead of an older property that will likely need more maintenance. Marketing? Food for thought.
Part III. Daily Business News on MHProNews Markets Segment
The modifications of our prior Daily Business News on MHProNews format of the recap of yesterday evening’s market report are provided below. It still includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines. The macro market moves graphics will provide context and comparisons for those invested in or tracking manufactured housing connected equities.
In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that are impacting manufactured housing connected investing.
Reminder: several of the graphics on MHProNews can be opened into a larger size. For instance: click the image and follow the prompts in your browser or device to OPEN In a New Window. Then, in several browsers/devices you can click the image and increase the size. Use the ‘x out’ (close window) escape or back key to return.
Headlines from left-of-center CNN Business – from the evening of 2.22.2023
- Cutting mortgage fees
- Biden administration plan could save 850,000 low- and middle-income homeowners hundreds of dollars in financing costs
- New from the Mercedes’ 2024 E-class: Angry Birds
- Takeaways from the Supreme Court’s hearing on Twitter’s liability for terrorist use of its platform
- Amazon closes $3.9 billion deal to acquire One Medical
- NPR to cut 10% of its staff in ‘a major loss’ for the public radio network, CEO says
- Vanderbilt University apologizes for using ChatGPT to write mass-shooting email
- Norfolk Southern is paying $6.5 million to derailment victims. Meanwhile, it’s shelling out $7.5 billion for shareholders
- JPMorgan restricts employee use of ChatGPT
- Why UK supermarkets are rationing fruit and vegetables
- Starbucks CEO says things have gone sour for young people
- Russia’s economy is hurting despite Putin’s bluster
- Starbucks’ new drinks have a spoonful of olive oil in every cup
- Big Retail’s cautious forecasts are spooking Wall Street
- Hong Kong’s financial secretary expects city’s economy to grow between 3.5% and 5.5%
- Department of Transportation watchdog to investigate flight cancellations and delays
- Microsoft enters 10-year agreement with Nvidia and Nintendo in fight to save Activision deal
- Takeaways from the Supreme Court’s hearing in blockbuster internet speech case
- Norfolk Southern CEO defends railroad’s response to Ohio derailment
- Bankman-Fried lawyers say they will pay for technical expert to aid judge on bail terms
- Mormon Church to pay fine to settle charges it hid an approximately $32 billion investment fund
- Dow drops by nearly 700 points as retail earnings disappoint
- Home sales sank in January for the 12th straight month
- Walmart warns it’s in for a tough year
- Home Depot to spend $1 billion more on hourly workers
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See instructions below graphic or click and follow the prompts.
Headlines from right-of-center Newsmax 2.22.2023
- Trump: East Palestine’s ‘Perseverance’ Was ‘Met With Indifference, Betrayal’
- Bill Johnson: I’ll Be ‘Front, Center’ for AT&T Hearing | video
- Burlison: DirecTV Made ‘Horrible Decision’ | video
- Bill Donohue: Newsmax Removal Un-American
- Wall Street Journal Hid Facts in DirecTV Censorship
- Devin Nunes: Left Threatens Conservative Media Ads | video
- Brian Andersson: Left Won’t Engage in Debate | video
- More Stories on AT&T DirecTV Censorship
- More DirecTV Censors Newsmax
- Newsmax TV
- Gordon Chang: Russia-China Dividing World in Two | video
- Pat Fallon: ‘Can’t Believe Anything’ Biden Says | video
- Father Murray: Lent a Time to Focus on Jesus, Sacrifice | video
- Blaine Holt: Russia Ready to ‘Turn Up the Jets’ on Ukraine | video
- Mark Morgan: Cartels Target Northern Border | video
- Wenstrup: Fentanyl Bill Could Reach Biden in ’23 | video
- Buck: Courts, Not Congress, Interpret Section 230 | video
- Ric Grenell: WH ‘Started the Fire’ of Europe Instability | video
- Blaine Holt: ‘Take Pause’ on Putin’s Next Ukraine Move | video
- More Newsmax TV
- Newsfront
- Pence: Social Security, Medicare Reforms Needed for Long Haul
- Former Vice President Mike Pence argued Wednesday that reforms are needed on Social Security and Medicare, even though GOP leaders such as House Speaker Kevin McCarthy, R-Calif., say they do not want cuts in the two federal programs… [Full Story]
- Tesla to Base Engineering Headquarters in California
- Electric-vehicle maker Tesla Inc. will make its global engineering [Full Story]
- Rolling Stones Recording With Paul McCartney: Report
- Paul McCartney will be teaming up with the Rolling Stones to record [Full Story]
- Russia Failed ‘Satan II’ ICBM Test While Biden Was in Ukraine
- Russia tested its SARMAT intercontinental ballistic missile, dubbed [Full Story]
- Related
- Putin Delivers a Nuclear Warning to the West Over Ukraine
- Blaine Holt to Newsmax: Russia Ready to ‘Turn Up the Jets’ on Ukraine |video
- Russia Will Not Fire Hypersonic Missile at South Africa Naval Exercise
- Russian Lawmakers Endorse Suspension of Nuclear Pact
- Putin Suspends Russia’s Involvement in Key Nuclear Arms Pact
- Biden to Meet Eastern NATO Allies in Wake of Putin’s Nuclear Warning
- Brian Mast to Newsmax: Russia Exiting START Treaty ‘Should Scare Everybody’ |video
- Global Impact: 5 Ways War Has Changed the World
- Trump: Ohio Train Derail Residents Betrayed
- Former President Donald Trump visited with the residents and local [Full Story] | video
- US War Against China Would Face Major Logistical Hurdles
- Any efforts by the U.S. military to defend Taiwan and nearby [Full Story] | Platinum Article
- Report: Purported Donations by Rep. Santos Never Distributed
- George Santos, R-N.Y., has said his campaign donated thousands [Full Story]
- Confusion Over Trio of ‘UFO’ Shootdowns Recalls Gulf of Tonkin
- The odd and continually changing story surrounding the unidentified [Full Story] | Platinum Article
- Neo-Nazis Hurl Antisemitic Curses Outside Broadway Musical
- Tony Award-winning actor Ben Platt, who stars in the Broadway revival [Full Story]
- Morning Consult Poll: Nikki Haley Rises, but Trails Trump, DeSantis
- Former Republican South Carolina Gov. Nikki Haley’s popularity has [Full Story]
- Mercedes-Benz, Google Partner on Branded Navigation
- Mercedes-Benz said Wednesday that it has partnered with Google to [Full Story]
- Supreme Court: Highly Paid Oil Rig Worker Merits Overtime
- An oil rig supervisor who earned more than $200,000 a year working [Full Story]
- Amazon Hates When You Do This But They Can’t Stop You
- Online Shopping Tools
- Republican-Led States Seek to Block Biden ESG Investing Rule
- A coalition of Republican-led states has asked a federal judge to [Full Story]
- Video Report: Ron DeSantis Spars With Media as 2024 Approaches
- On Wednesday’s “National Report,” Florida Gov. Ron DeSantis spars [Full Story] | video
- Dangerous Skin-Rotting Drug Spreading Across Country
- Xylazine, a drug used to sedate large animals, has been linked to an [Full Story]
- At Almost 101, He is the Oldest Living Star
- YourDIY
- Fed Minutes: Almost All Officials Backed Quarter-Point Hike
- Nearly all Federal Reserve policymakers agreed earlier this month to [Full Story]
- Trump in Ohio to Support Train Disaster Victims
- Former President Donald Trump is visiting East Palestine, Ohio, on [Full Story]
- Related
- Video Report: Trump to Visit East Palestine as Recovery Continues |video
- Supreme Court Rules for Arizona Inmate in Death Penalty Case
- The Supreme Court ruled Wednesday that a man on Arizona’s death row [Full Story]
- Related
- High Court Raises Doubts About Twitter Suit Over Istanbul Massacre
- GSK Study Shows Long-Acting HIV Shot as Effective as Daily Pill
- British drugmaker GSK’s HIV treatment division, ViiV Healthcare, [Full Story]
- California Budget Deficit $7B Worse Than Newsom Predicted
- California’s budget deficit in the upcoming fiscal year is $7 billion [Full Story]
- COVID-19 Equipment Auctioned in NYC at Huge Loss
- An investigation by The City has revealed that since last summer, the [Full Story]
- Gallup Survey: Rate of US Adults Identifying as LGBTQ Doubles in a Decade
- The Gallup organization revealed that the rate of American adults who [Full Story]
- Emily’s List Targets Over 20 House Republicans in 2024
- Emily’s List, an organization that acts to support female candidates [Full Story]
- Israel Considering Attack on Iran’s Nuclear Program
- Israeli Prime Minister Benjamin Netanyahu and top military officials [Full Story]
- Video Report: University Provides Shining Light for Evangelicals, Jewish Believers in Jesus
- On Wednesday’s “Wake Up America,” Asbury University is providing a [Full Story] | video
- Space Telescope Uncovers Massive Galaxies Near Cosmic Dawn
- Astronomers have discovered what appear to be massive galaxies dating [Full Story]
- Georgia Special Grand Jury Recommended Numerous Indictments: Forewoman
- A special grand jury that investigated 2020 election interference by [Full Story]
- Accused Colorado LGBTQ Club Shooter Back in Court for Preliminary Hearing
- The individual accused of fatally shooting five people inside a [Full Story]
- Wagner Group Head Accuses Russian Military Leaders of ‘Treason’
- The head of Russia’s mercenary Wagner Group has accused Moscow’s [Full Story]
- Parts of Northern US Shut Down, Part of Wild Day of Weather
- States in the northern plains are largely shutting down ahead of a [Full Story]
- Dem US Sen. Jon Tester to Run for Reelection in 2024
- S. Sen. Jon Tester, D-Mont., will run for reelection, he said on [Full Story]
- American Shoppers Should Think Twice Before Buying from These 2 Stores
- Romantic Partners’ Top 3 Lies About Money
- There is such a thing as financial infidelity, and it can cause fateful rifts in personal relationships and marriages…. [Full Story]
- Wall St Broadly Unchanged After Release of Fed Minutes
- Global Debt Sees First Annual Drop Since 2015
- China Urges State Firms to Drop Big Four Auditors
- Pence: Social Security, Medicare Reforms Needed for Long Haul
- More Finance
- Health
- Just One Conversation Daily Boosts Mental Health
- A new study suggests that having just one conversation with a friend daily can help your mental health. The study published in SAGE Journals shows the importance of human connection and how simple steps can help people preserve mental well-being. According to Healthline, the… [Full Story]
- Scientists in Israel Develop Groundbreaking Approach to Alzheimer’s Treatment
- Amazon Closes $3.9B Buyout of Health Company One Medical
- How a Four-Day Work Week Improves Health
- New Finding Links Obesity to 21 Alzheimer’s-Related Genes
Notice: the graphic below can be expanded to a larger size.
See instructions below graphic or click and follow the prompts.
2022 was a tough year for stocks. Unfortunately, that pattern held true for manufactured home industry (MHVille) connected stocks too. See the facts, linked below.
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Updated
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- NOTE 1: The 3rd chart above of manufactured housing connected equities includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry finance lender.
- NOTE 2: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- NOTE 3: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
- Note 4: some recent or related reports to the REITs, stocks, and other equities named above follow in the reports linked below.
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2023 …Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards and honors and also recognition in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position and may or may not reflect the views of sponsors or supporters.
