Douglas Elliman’s Yorgos Tsibiridis has made a name for himself as one of the most successful realtors on the East End. He tells THE DAILY SUMMER why now is one of the best times ever to buy, gives us the intel on the properties we should be checking out, and assures us that his industry is doing everything it can to make sure you feel safe looking at properties during the pandemic.
What’s your professional background?
I have an MBA from Columbia Business School, and worked in finance and strategy for several Fortune 500 companies. I also worked in real estate and hospitality development and traveled around the world.
How did you end up in the Hamptons?
I always used to vacation in Greece in the summer, but my wife has been coming out here since she was a child and we bought our first house in Bridgehampton about 15 years ago as a weekend home. We were living in the city at that time and moved back to Greece for a few years and when we came back to New York, we felt the Hamptons was the place we wanted to live and raise our family.
What do you love about the area?
It’s such a beautiful place, the sun, the light, the ocean, the bay. It’s such a magical place, whether you’re driving through Old Montauk Highway in Montauk and looking at the ocean or biking through the endless farmland in Sagaponack.
What’s unique about working with you?
When working with buyers, I bring a 360-degree perspective. A purchase out here is a major financial decision, so they need to feel confident they are making the right move. I have a strong analytical background, so I tend to constantly analyze the local real estate market and compare it with real estate markets in other regions within the U.S. or globally. I am a very hands-on person, and I get involved with all the details, from tax and accounting considerations to legal, building, and zoning, etc. When I represent a property for sale, I always use a fresh approach to showcase the property. I work closely with the creative team. I’m lucky that my wife, Alicia, who works with me, has 17 years of experience in advertising as a creative director and leads the marketing strategy and creative for every property we represent.
What areas are the hottest in the Hamptons right now?
Every area is pretty much hot right now! We have a strong market across all areas, from Westhampton to Montauk. The market is active in all price points.
What are buyers asking for?
There is a high demand for new construction and more turnkey properties. However, there are always good opportunities for houses that need more work. I always advise my customers to invest in the location and in unique properties. Waterfront properties have always been in demand and their value never goes down.
The financial markets have been all over the place this year.
They have been up and down several times this year! It’s been a roller coaster. Real estate is a real asset and even if markets soften, the volatility is much smaller than the stock market. In the end, it’s really a lifestyle choice for buyers, and our market has proven to be strong. It’s a good time to invest in a house out here.
What are some of your properties you are excited about?
6 Noelles in East Hampton is spectacular. It’s seven bedrooms and a new construction house. No detail was spared! 40 Wireless in East Hampton is an architectural gem and an amazing property for an art collector. 64 Atlantic is an Amagansett farmhouse two blocks from the ocean with the most beautiful back yard and pool.
Are there any properties with really unique characteristics?
Villa Galaxy is a property I represent in Mykonos, Greece. My wife and I first saw it 15 years ago, and we fell in love with place. We ended up having our wedding there and returning years later for our vacation. The owner asked me to represent it in the U.S. market. It’s a compound of three houses with a stunning pool area and lots of outdoor space in the Ftelia area of Mykonos.
What kind of impact did the lockdown have on your job?
Working from home while the kids are on Zoom calls with school has been a challenge. However, it has created a new perspective in life and formed a stronger bond with the family through all of this. When trying to reach our customers, we have to be a lot more creative in marketing the properties and find new ways through technology to showcase properties to our customers. It’s created a much higher workload.
What safety measures are in place so buyers and sellers
For a while, until we got to Phase 2, we weren’t doing any showings. Currently when we do showings, we have to take all precautions, wearing a mask, gloves, and booties when entering a property. Social distancing is key; everyone’s safety is a priority.
Will there still be open houses this summer?
Some people started doing them in Phase 2. I don’t feel it’s the right move, and I won’t be doing them. It’s hard to control the flow of people in an open house, and I think customers would also feel safer in viewing a property in private appointments with all safety measures in place.
What’s the best part about being in real estate in the Hamptons?
Working in the most beautiful place on earth!