Real Estate News

Goodbye To Pelé

Pele, who has kept a house in East Hampton for years, sold his Springs waterfront recently. Independent/Courtesy Corcoran

Goodbye To Pelé

It seems like only yesterday Pelé was holding court at Mellow Mouth, scores of adoring fans of all ages gathered around him as he regaled them with tales from the four corners of the world.

Pelé was more than just a soccer player. The Brazilian was and remains an icon, one of the most famous people in the world. His teams won three World Cups. When he came to New York to play soccer late in his career, he almost single-handedly put professional soccer on the map here.

Pelé is regarded by many including football writers, players, and fans, as the greatest footballer of all time. In 1999, he was voted World Player of the Century by the International Federation of Football History & Statistics, and was one of the two joint winners of the FIFA Player of the Century award. That same year, Pelé was elected Athlete of the Century by the International Olympic Committee.

He was quite the man about town as well. Pelé found his way to the Hamptons in the late 1970s, when he signed on to play with the New York Cosmos. He enjoyed the disco scene and the beaches and decided to buy a vacation home here. He plunked down $156,000 for a waterfront ranch at 156 Waterhole Road and turned it into a 3400-squar- foot ultra-sleek modern, perfect for midnight pool parties.

But the Great One, approaching his 78th birthday, doesn’t get around much anymore. Recently it was revealed the seven-bedroom home sold for $2.85 million. It had been on the market for $3.25 million. It’s situated on a landscaped acre next to Clearwater Beach and marina. The property comes with deeded beach rights.

Long Island Market Report

The Long Island housing market continued to be characterized by rising prices and low inventory, as the pace of sales growth eased, according to first quarter results released by Douglas Elliman.

While the number of sales was the second highest for a first quarter in 15 years, year over year sales declined for the first time in more than three years. There were 5682 sales (private homes and condos), down 1.3 percent from the prior year quarter. Listing inventory levels rose 2.1 percent to 11,022 from the prior year quarter but were the second lowest supply total for a first quarter in 14 years.

With the modest rise in supply and slight decline in sales, the pace of the market eased but remained historically brisk.

The absorption rate, the number of months to sell all inventory at the current rate of sales, was 5.8 months, 3.6 percent slower than the prior year quarter but the second fastest moving first quarter since at least 2004. Marketing time was faster, and negotiability tightened.

Days on market, the average number of days from the original listing date to the contract