Prospective buyers were invited to an open house inspection for a storm-damaged home on Dune Road in Hampton Bays on Monday. The home is among hundreds of distressed homes on Long Island that are being viewed over the next three weeks in preparation for an auction in May, and it’s the only one in the Hamptons.
Through its state-run, but federally funded NY Rising Community Reconstruction Program, New York acquired these properties after they sustained significant damage in storms, such as Hurricane Irene, Tropical Storm Lee, and Superstorm Sandy. The damage must have slashed more than 50 percent of the home’s pre-storm market value in order for the acquisition to occur.
These fixer-uppers, teardowns, and land will be sold at an auction in Hauppauge on May 19 and 20.
The waterfront ranch-style home at 51 Dune Road has 2 bedrooms, 1 bath, and a deck, and its 2015 taxes were approximately $9,000. The house’s pre-storm value was $675,000 and the minimum bid for it will be $250,000, according to Paramount Realty USA, which is managing the open houses and auction.
“The sale of these properties represents one important step in their rebuilding in a manner that is more resilient to future storms and other instances of extreme weather and we are excited to be playing a role,” Paramount states on its website, prusa.com.
There will be two open house inspections for each home over the next three weeks. The next viewing of 51 Dune Road will be held on Thursday, April 30, from 1:30 to 4:30 p.m.