Home Away from Homes

“So many were looking at it as a second home to their homes in the Hamptons.”

Seemingly undeterred by record real-estate prices on the eastern tip of Long Island, the ultra-wealthy are complementing their second homes with … more homes

By Andrew Zucker

Every summer, the .1 percent packs their cars—or their helicopters—and ventures to the eastern tip of Long Island. For many, that means opening up their second home. For some, it means deciding which one.

Collecting multiple properties out east isn’t a new phenomenon, but as the price of entry reaches dizzying heights, it’s become an even more exclusive status symbol for the ultra-wealthy to own more than one multi-million-dollar pad. (Netflix star and broker Ryan Serhant dubs such a home the “Fun House.”)

Joe Farrell, a onetime Wall Streeter turned property developer who specializes in shingle-style spec houses, is READ ON