Finance

Drew Barrymore just bought a $6 million farmhouse in the most expensive ZIP code on the East Coast. Here’s what it’s like living in Sagaponack, a tiny Hamptons village of 322 people.

The Hamptons, a series of beach towns dotting eastern Long Island, New York, are known for being a summer retreat for the wealthy and famous of New York.

Within the Hamptons’ many affluent towns, a tiny village of 322 people stands out as the priciest ZIP code on the East Coast and the second-most expensive in the country, according to a November 2019 report by Property Shark.

Sagaponack, a village in the town of Southampton in the 11962, has been called home by CEOs, musicians, famous authors, and celebrities. In December 2019, Drew Barrymore purchased a $6 million farmhouse in the Hamptons village, the New York Post’s Jennifer Gould Keil reported. The median sale price for a home in the village is $4.3 million, and to live there comfortably, you’ll need to make at least $853,738 a year, according to a GoBankingRates study.

But the Hamptons real-estate market as a whole has been suffering. Home sales in the ritzy seaside communities have slumped to their lowest level in 7 years, and there are the most luxury homes sitting on the market since at least 2011, Bloomberg reported. In Sagaponack, the median sale price dropped by about $1.2 million in the past year, according to PropertyShark.

Here’s a look inside the exclusive Hamptons community of Sagaponack, the priciest ZIP code on the East Coast.

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