A brokerage firm specializing in the ultra-luxury Hamptons market debuted at the absolute best time four years ago. Founders Gary Cooper and Preston Kaye launched Hedgerow Exclusive Properties at the height of the COVID-19 pandemic. The real estate mavens started the firm as wealthy New Yorkers fled the city, searching for open-air homes tucked into forested landscapes where they could isolate without worry in spacious luxury.
Capitalizing on the Pandemic
During the first year of the pandemic, it wasn’t unusual for luxury homes to sell over FaceTime for millions over the list price. At the height of the panic, the first frantic buyers were paying double, even triple, the asking prices for Hamptons homes.
The already-lucrative market heated up as the pandemic progressed, and Hedgerow Exclusive Properties capitalized on the growing demand for exclusive properties. Due to the founders’ long careers and decades of experience dealing with high-end clientele, they understand what the ultra-wealthy buyer desires.
Additionally, they had the trust of the buyers searching for homes in the Hamptons.
Cooper, in particular, has been a masterclass in silent power, operating independently in the Hamptons for over twenty years. Discretion and innovation have defined his career. Cooper pioneered off-market transactions before they became an industry standard. Upon becoming an agent, he grasped the importance of how people viewed brokers and the impact of their reputations. Among Cooper’s history of transactions are historic ones that are legendary in the Hamptons real estate industry.
In 2007, Cooper sold an oceanfront estate in East Hampton to mutual fund manager Ron Baron for $100 million, a deal at that price tag in the nation. He remains elusive even though he has been very successful and has had multiple landmark deals. Cooper’s image and even his name are difficult to find online, a deliberate move that ties into his ethos of confidentiality.
Connection and Synergy
After nearly five years, Kaye entered the high-end real estate world at a leading luxury brokerage. He was strategic in his transition, bringing a fresh, modern viewpoint to the industry.
Upon meeting, Kaye and Cooper found synergy between their two points of view: Cooper’s traditional touch mired in discretion and exclusivity and Cooper’s modern, tech-focused approach. They were like-minded when it came to building a firm with roots deep in the heritage and luxury of the Hamptons but without the two men in the forefront. They identified a niche in the market for the ultra-private seeking to move to the Hamptons who craved discretion when purchasing a home.
To make Kaye and Cooper’s model work, Hedgerow works through contacts and connections and has less than 20 licensed agents on staff.
As for how the two men settled on a name for their brokerage firm, in an interview with Forbes, Kaye said, “A well-known book by Steven Gaines titled “Philistines at the Hedgerow” talks about this underworld of society in the Hamptons, referencing generational wealth and those who lives behind the hedges, so to speak. As people who specialize in off-market deals and operating our business discreetly, the name Hedgerow was immediately a perfect fit.”
Understanding the Fine Balance in the Hamptons
Hedgerow Exclusive Properties reflects the firm’s approach to selling hand-selected properties and unusual, non-traditional selling strategies. It doesn’t have listings and ads. Instead, it specializes in off-market listings and holds active listings and other brokerages. Like the book Kaye references, Cooper and Kaye know the delicate balance between the old guard and new money.
“We handhold each product,” Cooper explained to Forbes. “We don’t take on hundreds of listings. We take on what we feel fits the brand and the profile with no set monetary amount and will represent everything from $100,000 to $100 million. However, having our off-market inventory certainly separates us. We also facilitate every aspect of the business in-house, including marketing, operations, and administrative support. It’s about full control to ensure the Hedgerow brand is never diluted.”
