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East End Business Book: Polo Pitched at EPCAL; Hamptons Homes Hit High

Also this week, a North Fork restaurant sees a new operator, once again, while a cupcake business is opening up a new storefront.

WESTHAMPTON-HAMPTON BAYS

New Storefront For Healthy Cupcake Business

Just in time for Valentine's Day, Cynthia Sachs, of Westhampton, says she will officially open a new storefront for her 9-month-old healthy cupcake business, Hamptons Cupcake Lounge.

SOUTHAMPTON

Hamptons Home Prices Hit New High

Record average home sales prices in the Hamptons set during the fourth quarter of 2012 are being attributed to a year-end sell-off of multimillion dollar properties — so the owners could get sales on the books before higher taxes were imposed Jan. 1, 2013.

Douglas Elliman's quarterly report places the average sales price in the Hamptons market at $2,130,788, the highest level since the firm began tracking the data seven years ago. Brown Harris Steven's quarterly report states that the average was even higher, $2,171,928, though the report considered 345 South Fork single-family home sales, while the Douglas Elliman report looked at 529 property sales.

"Facing higher capital gains taxes and a new 3.8 percent Medicare surtax on investment income, many high-end sellers rushed to close on the sale of their Hamptons home in the fourth quarter of 2012," wrote Gregory Heym, the chief economist of Brown Harris Stevens, in the firm's report.

EAST HAMPTON

Springs Woman Named to LIBN 40 Under 40 List

Nicole Starr Castillo, a partner and executive vice president of Wordhampton Public Relations, which is based in Springs, was honored by Long Island Business News as one of the future leaders of Long Island.

Castillo, 37, celebrated with her husband, Mauricio, and the WordHampton team at an induction ceremony at the Crest Hollow Country Club in Woodbury on Thursday night. 

Since 1998, Long Island Business News has taken nominations for outstanding members of the business community on Long Island who are under the age of 40. 

NORTH FORK

Former Elbow Room Chef to Take Over Restaurant at The Blue Inn

The restaurant at the Blue Inn in East Marion has changed hands once again. Mark Gray, the former chef of the Elbow Room in Jamesport, has partnered with Eugene Gluck to reopen the restaurant, which was under scrutiny by Southold Town last fall for not conforming to code.

The new place, which is set for a soft opening on May 16, is called Gray’s at the Blue and will feature Irish pub fare that Gray is known for — he’s from Ireland.

“We’ll also try to do some quiet music at the Tiki bar outside,” Gluck said. “We don’t intend to do anything loud.”

RIVERHEAD

Polo Pony Plan For EPCAL Pitched By Councilman

Polo fields might be the perfect future plan for Enterprise Park at Calverton, Councilman Jim Wooten said.

"I would like board to consider this, and to take a good, hard look at a polo project and an equestrian village at EPCAL," Wooten said.

The councilman said polo is a growing sport, with teens traveling upstate and to Long Island to engage in competition.

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