Business & Tech
Report: Resort Developers Taking New Angles Marketing Dormant Plots
The Estates at Old Vine and Fields at Mattituck among two local developments trying something new, according to the New York Times.
Some developers are taking a new angle on selling resort plots originally marketed before the real estate bust.
According to a report by the New York Times, owners of the Estates at Old Vine on Reeves Avenue, with 22 of 75 lots remaining vacant after three years on the market, are offering buyers more "design control," according to the chief financial operator of the company, Bill Nolan of NF Development and Heinlein Capital Ventures.
In Mattituck, developers with the Fields at Mattituck are offering more "shovel-ready opportunities," the article states, after clearing out dormant lots and even putting up nearly two dozen mailboxes.
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