Larchmont or the Hamptons?

If you had around $2 million to invest in real estate, where would you spend it? Larchmont Gazette looked at relative property values in Larchmont and the Hamptons, that fabled playground of the rich, famous and infamous.

People in the suburbs are heading out to places like the Hamptons to park their left-over cash, according to Dawn Brennan, one of Sotheby's top brokers in the Hamptons. "We are seeing more and more Westchesterites coming to look at investing in the Hamptons. It's a wonderful place to buy; it's still developing," she said. "It's like buying on the Côte d' Azur in the early fifties. It will never be a dying market."

Sandy Constabile, of Larchmont's Coldwell Banker McMillan Severin, reports real estate selling well in our area. "There's the usual slow-down now because so many people are away on summer vacations," she says.

What does your money buy you there or here?

As in Sound Shore communities like Larchmont, real estate prices in the Hamptons rise as you approach the shoreline. Take a look at the two houses below, one in Larchmont Manor and one near the Atlantic in Southampton. Which one would you buy?

Home for sale in Bridgehampton

Listing price: $1,900,000
Taxes: $10,000
Bedrooms: 6
Baths: 6
Property: 1 acre, waterway views

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