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10/21/14 7:00am
10/21/2014 7:00 AM

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The words enchanting, romantic and serene only begin to describe this $3.7 million Cutchogue dream home. Located in the exclusive Nassau Point neighborhood and boasting a beachfront view, this 1920s-era home is unrivaled in charm and tranquility. Private beach rights put the cherry on top of this retreat.

View the full listing on northforker.com

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10/20/14 10:00am
10/20/2014 10:00 AM
Real estate agents say that while Community Preservation Fund revenues indicate the market has slowed on Shelter Island in 2014, they believe a number of pending transactions will show an improved market in the fourth quarter. (Credit: Grant Parpan)

Real estate agents say that while Community Preservation Fund revenues indicate the market has slowed on Shelter Island in 2014, they believe a number of pending transactions will show an improved market in the fourth quarter. (Credit: Grant Parpan)

Real estate sales continue to lag despite the appearance of market recoveries on both the North and South forks, but Shelter Island may still be the hidden jewel in the East End’s crown for some house hunters.

There are, however, finally signs that this year’s property sales could, by the end of 2014, surpass last year’s numbers on the island. Community Preservation Funds — a 2 percent fee buyers pay to acquire property on Shelter Island — still lag behind 2013 revenue. But there has been significant movement in the past two months.  (more…)

10/08/14 2:00pm
10/08/2014 2:00 PM
Michael Butler, managing partner with Woolworth Revitalization, LLC, said Riverhead has "all the components."

Michael Butler, managing partner with Woolworth Revitalization, LLC, said Riverhead has “all the components.” (Credit: Barbaraellen Koch)

Michael Butler and his wife launched an environmentally sustainable eco-lodge in the Costa Rican rainforest 13 years ago, so opening 19 units of affordable housing on East Main Street in Riverhead doesn’t seem quite as daunting.

“That’s why this doesn’t seem as crazy, right?” he said

The Sag Harbor resident and co-founder of Playa Nicuesa in Central America is about to open up applications for apartments at downtown’s former Woolworth building, which was purchased a year and a half ago by Woolworth Revitalization LLC for over $2 million.

Mr. Butler, managing partner of Woolworth Revitalization LLC, hopes the units will be ready for occupancy by the end of the year.

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The apartments, for which a lottery will be held, are the second large investment in recent years in Riverhead’s downtown stock of housing, in particular work force housing. Peconic Avenue’s 52-unit Summerwind Square is 95 percent full at this point, according to its developer, Ray Dickhoff.

“It’s got all the components,” said Mr. Butler, pointing to downtown. “The river is great. Even if you look at the time since we’ve been here, the bike shop has opened up. This nice place across the street, Vines and Hops, has opened up. You can see things happening.”R1009_Woolworth2_BE_C.jpg

After its interior was gutted, new drainage tanks were installed and a new roof put in place, the former Woolworth building welcomed its first tenant, Maximus Health & Fitness, in May. Goldberg’s Famous Bagels followed in mid-August. Mr. Butler said 2,000 square feet of commercial space fronting Main Street are still available for rent there.

Expected to cost about $7.5 million in total, the project received $800,000 in federal and county grants, as well as tax abatements granted by the Riverhead Industrial Development Agency.

Mr. Butler explained Tuesday that those subsidies — which will keep rents affordable and stable for tenants — make the up-front capital costs worth it.

“That’s why these programs exist,” he said. “If you’re doing a project like this, and doing it right, these programs make it worthwhile. The new roof alone cost $250,000.”

The project isn’t the only new housing in the works for downtown. On Monday, the developers of Blue River Estates, a 48-unit apartment complex planned for West Main Street, informed the IDA that it would proceed as an affordable housing project instead of the market-rate units originally proposed.

Applications for the Woolworth building units will be processed through the Long Island Housing Partnership, which will verify applicants’ income statements and conduct the lottery, as well as market the property. Eligible applicants’ annual earnings must between 50 and 80 percent of Long Island’s median household income.

The nonprofit housing partnership is playing a similar role for Avalon Court in Melville, New Village in Patchogue and other developments.

Jennifer Appel, the organization’s general counsel and program advisor, said it has received two applications since starting to market the Woolworth property last week. The deadline for lottery applications is Oct. 30. Applications for any apartments still available after the lottery is held will be considered on a first-come, first-served basis.

Visit woolworthapartments.com for application information.

Caption: The retail spaces on the first floor of the Woolworth building. (Credit: Barbaraellen Koch)

10/07/14 10:00am
10/07/2014 10:00 AM
(Credit: Douglas Elliman Courtesy Photo)

(Credit: Douglas Elliman Courtesy Photo)

It’s among the tiniest of vineyards on the North Fork, and it could be yours: The Hidden Vineyard in Calverton.

The 15-acre property has just seven acres of vines, but also a 4,500-square-foot custom colonial home and tasting room. The vineyard estate was built by the late Peter DiBernardi, the vineyard’s original owner and winemaker, who died in March.

Read more on northforker.com

10/05/14 10:00am
10/05/2014 10:00 AM
The Town of Brookhaven recently used $232,000 in grants to renovate the exterior of the Woodhull House in Shoreham. It hopes to receive additional funding to restore the structure's interior. (Credit: Rachel Young)

The Town of Brookhaven recently used $232,000 in grants to renovate the exterior of the Woodhull House in Shoreham. It hopes to receive additional funding to restore the structure’s interior. (Credit: Rachel Young)

From the early 1990s until 2006, the historic 18th-century Woodhull House on North Country Road in Shoreham, which recently received a long overdue $232,000 exterior makeover from the Town of Brookhaven, languished.  (more…)