Buy land, Mark Twain said. They're not making it anymore.
Pay $120,000 for a 1,885-square-foot oceanfront lot in East Hampton? Sounds pretty good.
The lot is a 1-foot-wide sliver that runs 600 yards from Montauk Highway to the sand? Sure, if you're one of the two Manhattan moguls who entered into a bidding war recently over the land, which runs past both of their properties.
Suffolk County owned the land and wanted to sell it to one of the six adjoining property owners. Responding were financiers Marc Helie and Kyle Cruz. Helie already had easy access to the beach, Cruz was landlocked right behind him. The starting price of $10 was upped to $1,500 before the auction, in which the two men battled face to face (as real men do).
Thirty-four bids and counter-bids later, Helie emerged victorious. Newsday reports: It's unclear whether the county land carried a beach-access easement, but based on word from staffers who ran the auction, county property manager Wayne Thompson said, "I gathered one guy really did not want the other one walking over his property to the water."