According an article in The New York Times Real Estate section http://http//www.nytimes.com/2014/02/09/realestate/hamptons-house-make-mine-new.html?_r=0 new construction is at such a premium that razing older properties to make way the new for is no longer simply an aesthetic decision but financially pragmatic.
Two village houses recently disappeared without a trace. In January, a house on Cove Hollow Road was razed to make way for new construction; this week 71 Toilsome Lane disappeared under the efficient and expedient oversight of Terry Excavators in a matter of just a few days. And, rumor has it the tiny bungalow at 75 Toilsome—once built to house the tennis pro for the Maidstone Club--will be next.
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