Episode 277 - Susan Penzner

Discussing The Hamptons Art Community

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Transcript

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Welcome And Sponsor Thanks

Andrew Doud 0:08

Alright everyone, it's Thursday. I'm Andrew Dow. Time for the Happening in the Hamptons podcast, our weekly breakdown of the Hamptons market, new listings, and events on the East End. We are sponsored by New York Title Abstract, the Hamptons leading title insurance firm. Visit NewYorkTitle.com. Mr. Steve Glick, Dave Retiner, and today a legend in the real estate world is joining us. 55 years experience. Miss Susan Penzner, how are you?

SPEAKER_00 0:32

Good morning.

Andrew Doud 0:32

Good morning. It is a good morning. Look.

SPEAKER_00 0:34

It is a

Why September Light Draws Artists

SPEAKER_00 0:35

good morning.

Andrew Doud 0:35

Hey, we're into uh we're into September. Um beautiful time of year. I love it out here. Um and you know, we were going to talk a little bit about art because you're you're huge in the art world. And um an artist perspective, what is maybe your favorite time of the year out in the Hamptons? If you're painting or taking pictures, when do you find that artists are like, this is the time to be here?

SPEAKER_01 1:00

Well, the light, I mean, I'm not an artist, but for artists, and going back to the days of Jacooning and Pollock being out here, it's the flatness, it's the light. And you know, we all know September's the most beautiful month of the year out here, and it gets quieter after the craziness of the summer. So you can really enjoy it.

Andrew Doud 1:17

Yeah. It's funny, it feels like the traffic has. Well, it's weekend's Labor Day weekend. So it's all picking up.

Steve Glick 1:23

The weather has automatically changed once we went into September. Um, and we definitely feel that it's starting to quiet down a little bit with the traffic.

Susan’s Path Into Real Estate

Steve Glick 1:32

Um, but Susan, you've been in the business for 55 years. Now, where did you start selling real estate and how'd you get into it?

SPEAKER_01 1:38

I've got to hate to admit it. Um, I started looking for apartments I was in the fashion world for a while, and then I started looking for apartments when I was very young. And I had, you know, I I always loved architecture, and what really attracted me to the art world was the the vision. You know, I mean that's why I'm interested in art, that's why I'm interested in real estate, because I care about the real I care about the design, the architecture, the history of buildings, modern and new. Rather, I like a very modern house or I prefer an older shingle house with history. Um and so apartments were the same way. I liked the older apartments with fireplaces on pretty streets. And when I was looking for apartments, the person the broker said, the agent said to me, You should speak to the owner of my company, you know more than I do. So I went into real estate. Um and then not counting Sandra's, I've never really worked for anyone. I've always started my own firm. So I've now I'm in Soho and I do mostly commercial real estate, but I've always been coming out here since I was a child. And um, you know, I noticed I was doing referrals, people wanted me to find them houses. I have a lot of friends out here, my history a history out here. And then I started seeing these blue and brown signs everywhere, and I thought, you know, who is this person that would start a company in the middle of a re a downturn in the market, right? And then I saw some friends of mine who were at Saunders, and so I wanted to meet Andrew. And I remember coming in and having a meeting with him in the conference room and him saying, What do you want for what do you want? I said, I think I want to be here. And he said, Okay, what do you need? I said, nothing. He said, Do you want a desk? And I said, No. And he said, Okay, here's my cell phone number, here's the admins, here's our marketing department. Are you gonna cost me money? And I said, No. And that was okay, I'll order you business cards. And that was the beginning of a I can't believe I've been here almost 13 years. Wow. It's really been an incredible relationship. It has been a lot of support.

Steve Glick 3:37

And

Mentorship And Teaming Up With Maria

Steve Glick 3:38

you bring so much experience. I know, like you work with a lot of you know other agents as like a mentor. I know you work, you work alongside Maria, Maria Markovic. You know, she learned from the best, learning from you, and now she's a great successful real estate agent. And you have mentored a lot of agents, I'm sure, over your career. You know, they come to you for a lot of advice.

SPEAKER_01 3:57

I think my office now in New York is all about mentoring, and I feel the way I've had a lot of sort of partners out here, but I always chose somebody younger.

Steve Glick 4:04

Yeah.

SPEAKER_01 4:04

What especially because somebody who is more fluent in um tech, which is really helpful. Of course. But Maria and I clicked, you know, she was an administrative assistant here. Yes. And one day I came in and she wasn't here, and I'm like, wow, I she was so supportive to me. I called her and I said, you know, what would you would you like to partner? So we're still a team.

Steve Glick 4:27

Yeah, absolutely.

SPEAKER_01 4:28

We're very different, and we support each other.

Andrew Doud 4:31

That's great. Different can be good, without question.

SPEAKER_01 4:34

Different is very good because remember, you were like, Do you really want to say that?

Andrew Doud 4:38

It's it's good to have one person pick up where the, you know, the the the weaknesses of the other are the strengths of the team.

Artistic Listings And The Hamptons Scene

Steve Glick 4:45

Susan, the one thing I love about you is that you you always get these interesting listings, right? They're not they're not your standard, you know, cookie-cutter listing. They're all most of them all have an artist studio attached to it or some artistic flare. Yeah, artistic flair, artistic architecture to it. And you just attract those listings.

SPEAKER_01 5:05

And they're they're one of ones and they're all unique, and then they're I know because when I walk into marketing with photographs, they're going, oh, here comes the Susan listing. Yeah.

Steve Glick 5:13

But they all sell. I mean, you all you do a great job representing them, and you attract that buyer, and you're really in tune to the art community out here. And how big is that art community? Some people don't realize how big it is.

SPEAKER_01 5:25

Because the art community is not just the artists that live here or that were attracted to being here, but then you know, there are artists who have huge careers that have studios in Brooklyn and New York and show all over the world, have and they work their way up to more major homes here. Um there's that, the artist, and then there's the art gallery owner. The art uh they all have houses out here because it's tremendous um uh networking. You know, during COVID, like six or seven really important galleries opened in um East Hampton.

Steve Glick 6:00

Wow, really?

SPEAKER_01 6:01

It didn't hold up after COVID, but during COVID there was an incredible network going on, including Sotheby's who took a space at the auction house.

Steve Glick 6:10

Um and what about the museums? I know there's a lot of um art museums out here, right?

SPEAKER_01 6:16

And they've gotten better. Yeah, they've gotten better. So number one is the parish art museum, which is world-class.

Steve Glick 6:23

Huge, too.

SPEAKER_01 6:24

With really important shows. I mean and film and culture, and they also give back a lot to the community, which is really important. But the new building, which is not so new anymore, is really Herzlog and Des Moines, really an important building.

Steve Glick 6:38

Where's that one located?

SPEAKER_01 6:39

So that's in Wortemille. That's the parish that moved from Southampton originally. Um so I would say parish is number one. Guildhall is more of a intercultural because they have a lot of theater and um talks and dance, and but there's a lot of lectures too.

Steve Glick 6:55

You know, you were saying like every night if you want to go to a lecture, they're out there. They're over there.

SPEAKER_01 7:00

Every Saturday and Sunday, I found my this year they were really great. I mean, the Metropolitan Museum came out and gave a lecture, gave a talk at Guild Hall about a Jackson Pollock and Lee Krasner show that they're opening at the Met, which is incredible because it's they were both had studios here and they were like the history of of Long Island.

Andrew Doud 7:18

Wow I see a lot of these studios in in Sag Harbor, East Hamps and South Hampshire. I mean, there's a ton of art studios that are around. When people come out here, I I would think, I'm not as connected obviously to the art world as you, but like I would think that people come out here for the summer, their houses are already set. But are they coming out here going to these um art studios and and purchasing these major pieces of art that you would or was is that something that's more like reserved for the city?

SPEAKER_01 7:43

Well, major artists reserved for galleries. Because artists, yeah, artists don't get because they don't sell their work directly. But there are lots of art shows, you know. Parish art um Guild Hall has one, which is local artists, and um but institutions don't sell art.

Andrew Doud 7:58

See you learning something today about art. The art world, you know?

SPEAKER_01 8:01

Galleries do.

Andrew Doud 8:02

Okay, there you go. So um because it just seems like there's a lot of galleries that I've seen around. I mean, and they're all filled with these amazing pieces.

SPEAKER_01 8:09

In all different levels, it's great. All different levels.

Steve Glick 8:12

And these are great networking opportunities too. Like you go there, you're networking, you're meeting so many people in that in that community, and you're getting listings, real estate listings too, from that, right? They want you to be able to do that.

SPEAKER_01 8:21

Um,

Networking Stories That Create Deals

SPEAKER_01 8:22

you know, I went to an event, the church I didn't mention, which is really important in Sag Harbor, um, which we were involved in indirectly because um Eric Fisher was a client of mine in April in New York, and I've known them forever. And they wanted to buy the building that was a Methodist Church in Sag Harbor that they turned into an art foundation. But prior to that, there was a 25-acre subdivision behind their home in North Haven. And Eric called me up and he said, I don't want them to develop this. Um what can we do? And I found the owners who were one had passed away, and they had been out here, and I found their attorney, and we were able to purchase the property.

SPEAKER_04 9:04

Wow.

SPEAKER_01 9:04

I think Andrew and Teresa were help helpful there.

SPEAKER_04 9:07

Sure.

SPEAKER_01 9:08

Um and they purchased the property and then they sold it to, and I I want to be correct about this, it was either the town or probably a Peconic Land Trust. Anyhow, they sold it so it became a reserve.

Steve Glick 9:22

Oh wow.

SPEAKER_01 9:23

And that money, then they bought the building that was the church. And the church is um also very involved in the community. And uh so last night there was an event. There was um there was a golf tournament at PoxyGod, which was a fundraiser, a huge one, for a charity that had to do with children not becoming incarcerated, and a Jeff uh Josh Bear, an art advisor, organized it. But there was an incredible barbecue afterwards, and it was a benefit for the church. So this new restaurant that's opening, which is where the um stone pub was. Oh, right. Oh yeah. So it's gonna be Jean's restaurant, Jean, and he has two restaurants in New York, and it was amazing. It was farm to table, it was a huge barbecue, it was a donation. Uh, and I went and I knew everybody. And it was somebody came, I who was introduced to me, said, I'm getting tired of my house. If you found Alex, my friend, his house, I think you could find me a house. So I want you to come see my house. And I'm like, oh my God, that's how it works. Yeah, it is how it works for the case. That's how it works in our relationship. And that's how it works for me. And I think it's it's about I'm really sometimes I over-edit, I have to admit it's a mistake, and I could not show somebody something, and it turns out they bought it, not through me, because I fell in love with it, and I thought maybe it wasn't right for them. So I mean there are mistakes. I make mistakes. Sure.

Advice For New Real Estate Agents

Steve Glick 10:52

And give us one piece of advice, someone starting in real estate. Okay. If someone wants to start into real estate, coming from the legend, Susan Penzer, what what's some advice for a young agent starting into real estate?

SPEAKER_01 11:02

Oh, this I'm good at I mean, I get asked this people come to my office. Um you have to be tenacious, you have to be patient, and you have to know what you know, which is if you can't just go to a town, you have to be able to say to somebody, this is where the museum is, this is where uh the best farm stand is. You have to know the area, you have to educate yourself if you haven't grown up here. Because you are part of the life that they are going to buy into. So it's not just about showing houses, it's about showing the surrounding areas and why somebody wants to live here in the Hamptons, and each town is different. And I think it's really, really important to have that.

Steve Glick 11:49

It's great. Spoken like a true legend.

Andrew Doud 11:51

That's good. That's good advice uh for anybody just getting started.

Weekly Hamptons Market Numbers

Andrew Doud 11:54

All right, let's talk numbers. What do you got? See how they're looking in the market.

Steve Glick 11:56

Well, let's talk about some real estate data for this past week. 32 listings, one into contract from West Hampton to Montauk. Last year there were 42 listings, so it's a decrease of 24%, and two years ago with 38 listings, so a decrease there of 16%. The breakdown of the 32 transactions this week, two between 10 and 15 million, nine between five and ten million, two between three and five million, seven between two and three million, ten between one and two million, and two under a million. Dollar volume was $133 million. Last year was $181 million, decrease of 27%, and two years ago it was $110 million, so an increase there of 21%. 40 new listings came out of the market. So another week of seeing 40 plus listings coming on. That increased the overall inventory by eight listings, and the breakdown of those 40 new listings. There was one over 20 million, one between 15 and 20 million, two between 10 and 15, 7 between 5 and 10, 11 between 3 and 5, 6 between 2 and 3, 9 between 1 and 2, and 3 new properties under a million dollars came out of the market. Inventory is at 1,795 total listings, 1,394 active, and 401 in contract. So that's the data this week. As we continue to see um these renters moving out out of their um out of the house, the listings are coming out to the market. That's why we're seeing 40 new listings come on. So it's Labor Day weekend, so we're looking forward to the off season. You know, you got September and October, so much to do out here. Seasons are already changing, and it's great to see. There you go.

Weekend Picks For Arts And Shows

Steve Glick 13:32

Um what do you got this weekend, Dave?

Andrew Doud 13:35

I mean, it's a big weekend. Well, yeah, right.

Dave Rattiner 13:37

I mean, it's finally here the weather is a little cooler, it's really nice, but in uh spirit of Susan's love for art, I wanted to mention that at the Paris Art Museum this weekend on Sunday, they have jazz on the terrace at the Parish Art Museum. Have you ever done that before? It's beautiful, it's absolutely beautiful, huh? So I recommend that we do that. Um and then I'm gonna try and keep it mostly art, but combine music a little bit too. So music's art. Yeah, yeah, exactly. So um G.E. Smith is gonna be at Guild Hall. So you can look at the art at Guild Hall uh and also enjoy G.E. Smith, the world famous guitarist. He's gonna be there September 5th from 8 p.m. to 9 30 p.m. And then a very, very famous comedian uh is gonna be performing at the clubhouse uh September 5th at 8 p.m. And his name is John Mullaney, and he is very, very, very funny and very famous. So it's exciting that he's gonna be there. Um and then if you go out to Montauk, Carlita is going to be performing September 5th at 4 p.m. at the Surf Lodge. And

Favorite Hamptons Restaurants To Try

Dave Rattiner 14:51

we wanted to ask you what are your favorite restaurants you mentioned in the beginning. Go ahead and go ahead and let me know where you where you where you like to dine.

SPEAKER_01 15:00

Well, I love Ilbuco in um Amigans. They they also have one in New York.

Dave Rattiner 15:05

And is Ilbuco, you mentioned it's like an art-centric.

SPEAKER_01 15:10

I think it attracts a lot of people of common interest in the art world. Um, it's Ilbuco Dumari, so they don't have a lot of pasta except in the winter, so because they have a lot of fresh fish. But it's it's just an incredible relaxed atmosphere. My next favorite is a new restaurant, which is called The Lion's Nook. I haven't heard of that one.

SPEAKER_04 15:31

What is that?

SPEAKER_01 15:31

It's so great because um it used to be Rowdy Hall.

SPEAKER_04 15:34

Oh, okay.

SPEAKER_01 15:36

It's on that um they used all the space outside between the buildings. It's like a little plaza. And you can there's so much outdoor seating because you know there's not a lot of outdoor seating in as many restaurants as we have here. This is a huge space of outdoor seating, and and the food's really good, and it's they also own the Spring Tower. Oh, we gotta check it out.

Dave Rattiner 15:58

Oh, and we love the Springs Tavern. The Springs Tavern is the best. They really turn that place around. I remember when I was a kid, it was called Wolfie's.

SPEAKER_01 16:05

And this one has a great menu. Springs Tavern is great. It's a very then it's it's just a really comfort food menu. And uh that's my favorite kind. You have to go. Lion's head in. I mean Lion's Nook. I apologize. It's Lion's Nook.

Dave Rattiner 16:21

That's great.

SPEAKER_01 16:21

Lion's Nook. It sounds great. All right.

Dave Rattiner 16:23

I want to go there today. Cool. Sounds good. Um, all right, that's what's going on in the heads. That's it.

Andrew Doud 16:28

That's it.

Final Thanks And Sign Off

Andrew Doud 16:29

Susan, thanks for joining us. This was fun. This is fun, I know. Thank you. Yeah, enjoy uh enjoy the rest of the season. Hopefully, you have a great September and some great art shows coming up, and um, you know, we'll have you back on again.

SPEAKER_01 16:40

I would love it.

Andrew Doud 16:41

All right, thank you. Welcome on the podcast, everybody. Have a great Thursday. I'm Andrew Down and that is what's happening in the hammer.