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Hot off the presses are the brand new oceanfront residences at the Panoramic View in Montauk, which debuted last weekend. Your pied a mer ranges from two to four bedrooms starting at $2.825 million and reaching up to $4.2 million.

Owned by the same French family for 51 years, the famous hotel on ten acres on Old Montauk Highway was purchased in January of 2007 by the Distinctive Venture Group. The group worked with the town to coordinate a slow roll out of developing the different buildings into high-end, luxury units— technically “cond-ops” with a maintenance fee, but no board approval necessary.

One has to ask, is it the amazing view from the hilltop or something in the sea air at this once revered honeymoon spot? “We’ve heard so many stories of babies that were made here,” says sales director Ed Bruehl of Distinctive Ventures. He’s finding interest from second or third homeowners as well as existing Hamptons residents who view the oceanfront units with private beach, pool, and cabanas as a slopeside, or in this case surfside, adjunct to a larger existing home. Others just don’t want to be bothered with upkeep and want a “doorman building on the ocean,” explains Bruehl, with onsite management, concierge, and rental and sales agents.

Some units are available this summer for rent starting at $100,000. Of the current ten “Hilltop” units, one is sold and two are in contract, and the next phase “Salt Sea,” with another ten units, is in pre-construction sales (www.panoramicview.com). Apparently, recessions get blown off shore by ocean breezes. Many resort developers have followed the trend of the fractional ownership (very, very fancy time share) with an existing hotel, especially with a name brand such as Four Seasons or the Ritz Carlton. Yet, in the Hamptons, the high-end chains have stayed away due to the area’s seasonal nature. Many of the existing condos or co-ops on the ocean are on the lower end in resorts built years ago.

The Villas in Southampton, on Old Town Road, opened two years ago and also took advantage of the desire for high-end living in a favored area (right off Gin Lane and near the ocean), but in a smaller luxury unit where someone else worried about the gardener and pool. Sorry, Lady Chatterley. For those honeymooners, your last chance to stay at the Panoramic View as a hotel is this summer, unless of course you register for a unit as a wedding present. Courtesy of Plum Hamptons Online

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