- The first phase of 338 units sold out in just three weeks on only an artist's rendering and blueprints.
- Product types include single-family homes and large villa condos aimed at move-down buyers, and smaller carriage home condos for first-time buyers and older empty-nesters.
- The amenities are included in the HOA fees, which range from $350 for the carriage houses up to $425 for the single-family homes.
- The temporary sales office was mobbed on the first day, and developers hired a security guard to hold back the throng. "I've never seen anything like it," says developer Eliot Monter.
Why it worked: It is the first new, large-scale residential development in the quaint North Shore Long Island town of Oyster Bay in years. The 55-acre parcel originally intended for a landfill has become a market phenomenon thanks to the incredible location and resort-like amenity package. On-site services include a concierge, laundry, housekeeping, maintenance, restaurant, nightclub, and European health spa.
Project: The Hamlet on Olde Oyster Bay, Oyster Bay, N.Y.; Sales started: June 2000; Sales through November 2001: 370; Units planned: 370; Price: $320,000 to $725,000; Unit size: 1,500 to 4,000 square feet; Builder/Developer: The Holiday Organization, Plainview, N.Y.; Architects: Charles A. DiGiovanna, Copiague, N.Y., Robert M. Swedroe Architects, Miami Beach, Fla.; Landscape architect: Fragala Landscape Co., Medford, N.Y.
Learn more about markets featured in this article: Miami, FL.