If you’ve ever thought about purchasing a summer place or investment property in the Hamptons and its environs but couldn’t swing the steep price tag, there just might be a way to live the dream—you can buy into a hotel condo or co-op, which are numerous in this area and can be a fraction of the cost of a single-family house.

That’s important to know because home prices in this stretch of paradise are still at an all-time high—in the first quarter, the median sales price exceeded $2 million for the first time, up 13 percent since last year, according to the latest edition of the Elliman Report. And the median price for condos on the East End in particular has skyrocketed over 200 percent since last year, hitting $1.96 million.

Being able to come up with enough money is not the only consideration, however. A vacation investment property can require a lot of work: You need to find renters and maintain the property, not always an easy feat when you don’t live nearby. 

But with a hotel condo or co-op, you own the apartment, and you (or anyone who rents your place) can enjoy the hotel’s amenities as well as housekeeping and other hotel services. A management company will rent the property on your behalf so you can be as hands-off as possible.

[Editor’s note: A previous version of the article ran in May 2023. We are presenting it again here with updated information for April 2025.]

In this week’s Buy Curious, Florence Costello of Martha Greene Real Estate and Justin Agnello, Hara Kang, and James Keogh, known as the Atlantic Team of Douglas Elliman, tell you everything you need to know about purchasing a place in a condo/co-op hotel in the Hamptons area, including where to find them, how much you’ll be shelling out each month, and if you can expect to see a return on your investment.

The question:

I’ve heard that a condo or co-op hotel in the Hamptons might be a good option for a low-key investment property. Does that ring true? If so, can you tell me more? 

The reality:

If you want to own an investment property in the Hamptons area but don’t want to do any of the work typically involved in property ownership, a condo or co-op hotel could definitely work for you.

The advantages are numerous: Someone else will take care of finding renters, allowing you to earn money on your property when it’s not in use. You don’t need to clean the unit or change the bedding after you or your renters leave. And you’ll be able to sit back, relax, and watch it all unfold from afar.

“I can’t think of any cons to doing this,” Costello said.

What are the sought-after condo/co-op hotels?

Montauk Manor (which Costello represents) is a highly desirable destination in Montauk, according to the Atlantic Team. The views are phenomenal, the staff and management are world-class, and the overall ambiance is delightful, they said. Amenities include indoor and outdoor pools, a day spa, an exercise room, tennis courts, an Italian restaurant, a driving range, a putting green, outdoor yoga classes, and electric vehicle charging stations. 

Also in Montauk is The Surf Club, which offers rare one- and two-bedroom duplexes with ocean views. The club has a heated outdoor pool, fitness center, direct beach access, free parking, outdoor movie nights, yoga and Pilates classes, and concierge services.

The Beach Plum Resort, another Montauk locale, offers direct beach access, a heated pool, complimentary wifi, and outdoor grills. There are even play areas for kids, making it an excellent option for families.

Direct beach address, a heated pool, sauna, fitness room, and tennis courts are on deck at The Beachcomber Resort at Montauk, a seasonal community that is open from April 25 through the end of October (exact dates subject to change).

Dune Resorts owns several co-op properties in the Hamptons, with three in Montauk. The Atlantic Bluffs Club is a co-op community within walking distance of the beach and town. Ocean Colony, a beachfront resort, offers two tennis courts, a large private beach, and a clubhouse with ping pong and board games. Soundview Montauk, located on Block Island Sound, is a seasonal resort with an outdoor pool, playground, private sun deck, and a picnic area with barbecues. 

Other Dune Resort properties include Windward Shores, a year-round resort consisting of 45 townhouse-style apartments situated along the Napeague Stretch between Amagansett and Montauk; it has two tennis courts and cabana service on the private beach with lounge chairs, sun umbrellas, and towels; East Hampton House, situated on five acres of manicured lawns within walking distance of the village, offers a heated outdoor pool, fitness center, two tennis courts, and barbecue grills; and The Hermitage, a seven-acre resort with studios and one- and two-bedroom condos plus seasonal features counting two tennis courts, cabana service on the private beach, and on-site parking. All Dune Resorts’ properties have heated pools and high-speed wifi. Be sure to check its portfolio of investment opportunities, which is updated frequently. 

Another popular spot in Amagansett is The Ocean Dunes, an oceanfront co-op resort with a heated outdoor pool and private beach access.

How do you rent out a hotel condo/co-op?

“The building takes care of it all,” Costello said. In most cases, either an in-house or outsourced management company handles the entire rental process, meaning your work is complete once you’ve purchased the property and added it to the rental pool.

You may have the option to do the turnover and sourcing yourself, but that process can be burdensome, according to the Atlantic Team.

Costello added that in her experience with Montauk Manor, most people keep their properties in the rental pool for the summer season—which typically runs from early May to November—to maximize profits. In the off-season, the owners enjoy their spaces.

What can you expect to pay in maintenance?

Fees will vary from unit to unit and complex to complex. Many Hamptons-area resorts close for the winter months and therefore have lower maintenance fees.

If you buy in a complex that stays open year-round, you will have to factor in winter maintenance, which can be steeper thanks to the weather, according to the Atlantic Team.

A rough estimate would be total fees that range from $800 a month on the low end to over $2,000 a month on the high end.

How big do these properties tend to be?

Most of the units at these condo/co-op hotels are studios and one bedrooms, ranging from 400 to 500 square feet.

Some larger, two-plus-bedroom units can also be found at most resorts; they are significantly more expensive and come to market less frequently.

Can buyers expect to see a return on their investment?

Once the maintenance fees and all other associated costs are factored in, an owner can still end up in the green, according to members of the Atlantic Team.

Costello added that while purchasing one of these types of properties isn’t as foolproof as putting money into a CD, “it will eventually pay for itself.”

Do owners mingle with hotel guests? 

In most cases, the answer is yes—especially at amenity spaces like the pool and fitness center as well as common areas.

Some resorts separate private residences from rentable hotel rooms, while others don’t. If this is important to you, be sure to ask. 

Is it hard to get a mortgage for a unit in a condo/co-op hotel?

Unfortunately, yes, said our experts. As such, most people will need to pay cash for these types of properties.

And according to at least one loan officer, the reason for this is simpler than you might think. “We’re not in the business to lend to hotels,” she said. “We do residential lending.”

However, if the condo/co-op component of the property maintains its financials separately from the hotel portion, some banks may consider it. In these cases, you should have enough liquid assets to cover at least six months’ worth of mortgage payments, a strong credit score and history, and a debt-to-income ratio of no more than 45 percent. 

Check out these condo/co-op hotels in the Hamptons/Montauk area:

6 Soundview Drive, North Deck, Montauk

Part of Dune Resorts’ Soundview Montauk seasonal community, this upper-level one-bedroom co-op is listed for $699,000 and has monthly fees of $1,450. The corner unit features double exposures and a wrap-around sun deck and shares an outdoor pool and other resort amenities.   

727 Old Montauk Hwy., #401, Montauk

Asking $539,000, this recently renovated corner studio co-op has double exposures, an oceanview balcony, open efficiency kitchen, and a private storage room in the full basement. The monthly fees are $973. Amenities at The Beachcomber Resort include a heated pool, tennis courts, direct ocean access, and a gym with a sauna.

236 Edgemere St., #406, Montauk

This renovated 580-square-foot one bedroom, listed for $485,000, has one full bath, an open kitchen with granite island, vaulted ceilings, built-in daybeds, an eco-friendly fireplace, and views to Fort Pond Bay, Gardiner’s Island, Orient Point, and Plum Island. It’s located at Montauk Manor, which offers an on-site restaurant, indoor/outdoor pools, tennis courts, an exercise room, and a grand lawn. Monthly maintenance is $2,184; annual taxes are $1,616. 

236 Edgemere St., #101, Montauk

Also at Montauk Manor, this updated 476-square-foot condo has a loft bedroom and bath, an open kitchen, and a 97-square-foot private patio with direct access to the outdoor pool and courtyard. It is listed for $465,000, with a monthly maintenance fee of $1,416 and annual taxes of $1,033. 

226 Pantigo Road, #310, East Hampton

This listing, priced at $509,000 and with $988 in monthly fees, is part of Dune Resorts’ East Hampton House and shares access to a brand-new outdoor heated pool, tennis courts, a fitness room, and a guest laundry facility. The upper-level deluxe studio features a full bath, living room, and an “amenity station” equipped with a mini-fridge, microwave, and coffee maker. A semi-private sun deck overlooks the manicured grounds. 

2062 Montauk Hwy., #28 Amagansett 

A lower-level studio co-op, located at Dune Resorts’ Windward Shores, is on the market for $549,000 and has monthly fees of $1,184. The 369-square-foot unit features a full kitchen and bath, as well as an outdoor patio. Amenities include an outdoor heated pool, tennis courts, and a private beach with cabana service during the summer. 

There is not a single property across Australia – or even a room in a shared house – that’s affordable for someone on youth allowance, according to a new report from support organisation Anglicare Australia.

And just three properties were deemed affordable for those on a JobSeeker allowance.

The 2025 Rental Affordability Snapshot, released this week, surveyed 51,238 rental listings across Australia on March 15, with the result painting a bleak picture.

Of the rental listings surveyed across all states and territories, only 352 homes (0.7 per cent) were affordable for a person earning a full-time minimum wage, while just 165 rentals (0.3 per cent) were affordable for a person on the Age Pension.

The situation got even more dire for a person on the Disability Support Pension, with just 28 rentals (0.1 per cent) deemed affordable.

A person on JobSeeker, meanwhile, had the choice of just three rentals, while not a single rental was affordable for a person on Youth Allowance.

Banks, Bennelong, Bradfield and Cook in New South Wales topped the list of Australia’s least affordable suburbs, according to the data with Goldstein in Victoria round out the top five.

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Source: Anglicare Australia

With the 2025 Federal Election only days away, Anglicare Australia Executive Director Kasy Chambers said all parties and candidates needed to act on housing affordability.

“Australia’s housing crisis is the worst it has ever been,” she said.

“We keep hearing that this election is about living costs, but housing is the biggest cost facing Australians.

“The housing crisis is climbing the income ladder, and people on lowest incomes don’t stand a chance.”

Ms Chambers said less than 1 per cent of rentals were currently affordable for a full-time worker on the minimum wage.

According to PropTrack, the national median rental price for a house now sits at $650 a week and at $640 for a unit.

By comparison, the maximum fortnightly Youth Allowance for a person over 18 without kids is $663.30 and $836.60 for a person with children.

MORE NEWS: The 43 Aussie suburbs where you can buy a home for under $400k

Source: Anglicare Australia

“Across the country, there are 74 electorates without a single affordable rental for someone on the minimum wage,” Ms Chambers said.

“Voters are desperate for action. Instead, parties are promising more of the same. At best they are overlooking those who need the most help, and at worst, they are making promises that could overheat the market and push costs up.”

Ms Chambers said that the Government must step up instead of leaving housing to the private sector.

“The Government spends eight times as much propping up private investors as it does on building homes for people who need them. This approach is wrong, and it’s supercharging rents and house prices.

“These results show that housing cannot be left to the private sector. We’re calling on the next parliament to ensure that rentals are affordable by building rentals people can afford, and by fixing Australia’s unfair tax system.

“If the next parliament fails to take action, this crisis will only get worse.”

Source: Anglicare Australia

The post ‘Just three properties’: Report paints bleak picture of Aus rental market appeared first on realestate.com.au.

A $1.95 trillion asset cap that’s limited the bank’s growth could be lifted in Q2 with CFPB and other regulators having closed 12 of 14 consent orders aimed at remedying past business practices.

Home-price growth cooled slightly as the spring purchase season enters May.

The S&P CoreLogic Case-Shiller Home Price Index for February rose 3.9% year over year, a slight decrease from the 4.1% annual gain in January. Over the winter, the market benefited from declining interest rates and rising inventory, allowing some buyers to enter the market.

But this occurred before President Donald Trump’s tariff policies kicked into high gear, which pushed mortgage rates back up to 7% and cast doubt on the economy.

“Waning consumer confidence, heightened economic uncertainties and the future of household budgets are impacting the consumer housing market,” Zillow chief economist Skylar Olsen said in a statement. “Unlike its normal countercyclical behavior, these early signs of an economic downturn have not brought lower mortgage rates along with it.”

The rise in the Case-Shiller Index is largely driven by the 10 largest cities in the country. The 10-City Composite increased by 5.2% annually in February, higher than the 4.5% growth for the 20-City Composite. But each of these gains were slightly lower than the prior month.

The city driving these increases is no surprise. New York City’s year-over-year gain was 7.7%, by far the largest for February. Chicago (+6.6%), Cleveland (+6.6%) and Boston (+5.9%) also posted substantial annual increases.

Other parts of the country, meanwhile, are experiencing sagging home prices. Tampa (-1.46%) is the only city in the 20-City Composite with an annualized decline. It also saw home prices drop by 0.34% compared to January.

While 11 of the 20 cities saw prices fall between December and January, only two fell between January and February. The other one is also in Florida, as Miami‘s prices dropped by 0.27% on a monthly basis.

The outlook for the rest of the spring is murky, due in part to tariffs. Despite Trump pausing the dramatic global tariff regime he announced on April 2, markets and households responded negatively, and an astronomical 145% tariff on China remains in effect.

The future of Trump’s tariffs is also cloudy, as he and members of the administration have signaled different paths forward that are often contradictory. Public opinion has soured on tariffs, and any expectation of higher inflation could temper demand for housing.

“High housing costs and widespread economic uncertainty have curbed buyer enthusiasm,” Hannah Jones, senior economic research analyst for Realtor.com, said in a statement. “Recent data shows that concerns about job security have increased, which could make both buyers and sellers more hesitant to enter the housing market until the outlook for the economy and job market becomes clearer.”