If there was any confusion where New York's uberwealthy were scrambling to dump their money in December ahead of the now official tax hike on the wealthiest, we now know: some two hours north on the Long Island Expressway, or the Hamptons to be precise. Bloomberg reports: "Home prices in New York’s Hamptons, the resort towns on the Long Island coast, rose to the highest on record as deals at the upper end of the market surged before expected tax increases for sellers. The average price of homes that sold in the fourth quarter jumped 35 percent from a year earlier to $2.13 million, the highest since Miller Samuel Inc. begin tracking Hamptons sales in 1999, the appraiser said today in a report with brokerage Douglas Elliman Real Estate. It was only the second three-month period that the average purchase price topped $2 million, said Jonathan Miller, the New York-based firm’s president."
Notable new Hamptons resident: Goldman Sachs CEO Lloyd Blankfein just bought this 32.5 million dollar 8k square foot, 7.3 acre home.