When a region is known for its oceans, landscape, and especially its real estate market, there are going to be brokers that are considered superstars. They have sold in down and up markets in the billions – with a “B.” Something else starts with a “B” and that’s Breitenbach — Susan Breitenbach, to be specific. Her husband, Stephen Breitenbach, is a prominent local builder, while her son, Matthew Breitenbach, also went on to become a rockstar real estate broker.
She pushed through the five-year Hamptons real estate slump that ended when the global pandemic brought New Yorkers and many others to the East End for the long-haul. Slumps don’t affect Breitenbach, she understands how to work them with aplomb. She hit the $5 billion sold bracket and is officially a legend.
For The Corcoran Group, Breitenbach has been the #1 Hamptons associate broker, accumulating countless awards and is ranked #1 in the Hamptons by sales volume and the only Hamptons broker ranked in the top five nationwide for multiple years by The Wall Street Journal. Her numbers are mind-blowing. She sold a record-breaking $663 million in 24 months, with over $340 million in sales and $20 million in rentals in 2020 alone, along with the highest price land transaction on the ocean in Southampton in 2020. Wow.
It was a harrowing and intense time for Hamptons real estate since the pandemic upended so much out here. How are you doing personally?
It has been an absolutely crazy and busy year with a lot of ups and downs, uncertainty and challenges. Personally, as I believe with most people, it has been an adjustment, to say the least. Especially not being able to see family and friends for most of the year and no down time from work. I feel very blessed and grateful to be alive and healthy, along with my family. I will never take for granted anything after this!
Although it has been difficult to find a balance, so thankful I love what I do and feel very happy that I was able to help so many people find homes in times of need. I found that exercise helped me to relax and recharge. I took up paddle tennis outside just to get out and to see friendly faces, did some hiking and walking and found meditation was helpful too!
Your experience in Hamptons real estate is legendary, starting in 1987 working for another legend, Allen Schneider. Then Corcoran, when NRT (the parent company) bought the company in 2006. You’re also considered the top agent in the region. What is your secret?
Yes, I have been a top selling agent in real estate for a very long time and the only Hamptons broker that has been ranked by the Wall Street Journal in the top five brokers nationwide multiple times. I don’t think there is a secret but do think you have to have a passion for real estate, enjoy working with people and have to know how to get a deal done. Integrity, knowledge, and experience are very important and being totally straightforward and upfront with your clients. Real estate is great business but you have to work extremely hard, and be accessible 24/7, really caring about the people you work for and delivering the results your clients expect and deserve given the huge amount of faith they place in me — and NEVER GIVE UP!
How has the Covid-19 crisis affected your business?
The Covid-19 crisis has been unbelievable and so terrible, so many people dying and so many struggling to put food on the table, and hold on to their jobs and businesses. I feel in my heart for all, so it’s hard to admit that Covid has been great for real estate in the Hamptons. I never would have thought that at the beginning of this. But all I can say, is I felt more like a nurse than a broker, as people were in such a panic and I felt I was doing a very important job being there for them, helping them when they were desperate to get out the city with their families.
You’ve hit $5 billion in sales in the region. Wow. Why do you think celebrities and high-end buyers and investors trust you so much with transactions of this magnitude?
Yes, I have done over $5 billion in sales. I think very smart, successful people, whether celebrities or heads of industries, want the very best, most knowledgeable and experienced broker that will always keep their best interest as the #1 priority. Someone that has a track record of getting the most difficult deals done for them. Confidentiality is a given with my clients.
How were your sales during this period? Do you have numbers to share with us?
It’s been an amazing year for Hamptons real estate. I was the #1 Hamptons broker again in 2020 with over $340 million in sales volume and $20 million in rentals. This year has started off incredibly busy with both rentals and sales. I have sold and or put in contract over $100 million in the last few months. Market is still going strong!
What advice would you give sellers right now?
Advice to sellers is now is the time to sell! There is hardly any inventory left and a big pool of buyers!
Are you personally seeing a permanent migration to the East End from city folks?
Yes, people have definitely changed the way they think about the Hamptons as it is no longer just a summer and weekend community! So many people have realized it is amazing all year, they can work from here, have moved here, even put their children in local schools. I don’t think that is going to change. New York will always be New York and people are going back but almost all will keep a Hamptons residence.
Are there any homes that you’ve sold that you’re particularly proud of in 2020/2021?
The two top deals that come to mind in 2020 are one I started in January, closing an off-market deal which was the highest price land transaction on the ocean for just under $40 million. Another tear-down on the ocean that sold for over asking price at $20 million is memorable. Recently this week, I just put my exclusive into contract on Mecox Bay for $25 million which was full price. Another exclusive in Sagaponack asking $18.4 million, and another one in Bridgehampton for full price at $17.995 million where construction was just started!
The market is moving quickly! If priced right, it is selling!
You’re married to Stephen Breitenbach, one of the most revered builders in the region. Based on the amazing work they do and what you’ve learned from your buyers, what are some trends you are seeing in home building that are now important but wasn’t prior to the Covid-19 outbreak?
Trends we are seeing that are now more important than ever since Covid are, as you could imagine, elaborate home gyms and multiple home/professional offices, integrated interior/exterior spaces for entertaining with outdoor fire pits/fireplaces, covered porches with exterior TVs, pool houses with nano doors, and compounds with multiple houses, large pools, jacuzzis, and tennis.
A great example is an amazing house my husband built. It’s an incredibly designed house by Bates + Masi on Mecox Bay. Facing the water are a wall of sliding glass of which when all opened up, they disappear. It’s stunning. It has two 30 foot trees growing through the center, a giant outside master bath like an Aman resort with another huge tree, shower, and bath.
There is also an incredibly large covered porch overlooking the pool with an outdoor shower, large built-in kitchen, elevator, and generator to run the entire house. It has a beautiful gym and even an outside yoga deck and tennis court. I just sold it, mentioned above — it was one of the best deals in the Hamptons.
We hear inventory has shrunk after all the sales. How are you finding inventory, I mean, is that an active conversation with investors or do they come to you with the house?
Yes, first time in all the thirty years I have been doing this have I ever seen inventory so low! Have been starting to get some calls, people are really starting to get that it is a good time to sell! And yes, I have been making some calls. I think a lot of people are worried about the estate tax and 1031 exchanges. We’re hoping we will be getting some more inventory soon.
How are rentals going?
Rentals have always been so hard to find here. In this incredibly busy time, it’s even more so and more expensive than ever! Somehow I’m still doing a lot of them! I have done quite a few in the $1 million range and just rented a home for $1.5 million sight unseen for less than full season — not even a Facetime tour or video!
Are there any up-and-coming neighborhoods we should know about?
A new busy area in the Hamptons along with the usual towns and villages south of the highway is Shinnecock. Noyack in Sag Harbor, of course, continues to thrive!
Can you give us a glimpse of who and what your team consists of? How has Corcoran pivoted during the pandemic? Nothing seems to have interrupted your incredible work with your buyers and renters.
I think in this business, and especially in challenging times, you have to rethink and always try to improve, be willing to change things up, and go with flow. Like in 2008 when the market totally crashed, I thought it was going to be a terrible year and I ended up doing a tremendous amount of business working with investors who were taking advantage of the drop. I ended up being ranked by WSJ that year #2 in the country! I have never done so many rentals in my life as in this pandemic! Sales have been crazy busy too, and we’re doing whatever is needed.
I am a single broker, but do, of course, have all the support of a team. I have Cutter, who is an excellent broker. He helps with all of my clients and customers and does just as well with a wealthy, young hedge fund owners or a retiree. He is knowledgeable, experienced and genuine — everyone can’t help but love him! He is also a great son-in-law!
Then I have Sharon, who is not only one of my best friends, but such a big part of my business! She is a very smart, seasoned broker. She is most organized and handles everything from showings, meeting photographers, clients, and much more.
Then there is Dan, Corcoran’s head admin, who is amazing. He knows everything and is always willing to assist, while going above and beyond. He’s smart and does all the paperwork while being one of the nicest and available people at any hour of the day or night!
Although I run my business as more of a boutique firm, with my own website, support team, social media specialist and PR, I also have a great manager and CEO, and the structure of Corcoran is the largest and most successful brokerage. With all this support, website, network, outreach, marketing and PR, we all work 24/7 and love what we do. It translates to success and I couldn’t do it without all of them.
With the lockdowns, how have you adjusted to living in the East End? How have you enjoyed your down time during this period?
With the lockdown everyone’s lives have changed this past year but I also believe that people have changed the way they live forever. I have never spent so much time here with no traveling hardly at all this past year, but managed through the winter, not much down time at all, just work, work, work! Thank god I love what I do and my husband is an excellent cook! I did find a little time, met some new friends and, again, I took up paddle tennis which saved me!
Can you share some of your favorite current listings?
Some of my favorite listings are Stongheart Manor in Sag Harbor, which is one of the most amazing waterfront compounds, at $44.995 million. 347 Jobs Lane, a Bates + Masi stunning modern waterfront, with trees in its center, walls of glass, water views from every room. It was built by Breitenbach builders and is closing soon. Also 57 Jared Lane in Sagaponack. It’s a stunning traditional in Sagaponack with incredible modern interiors by Tony Ingrau, which is closing soon, too! Also just listed, another beautiful traditional in the Southampton Estate section on two acres less than a block to ocean and Gin Lane. I am sure it will be the next to sell!
