Corcoran broker Michael Schultz's formidable fashion background helps him find style-minded Hamptonites their new homes.
More relaxed and affable than the typical top-gun real estate broker, Corcoran Group licensed broker Michael Schultz began his first career in men’s fashion, traveling the world for Campus Sportswear. He was later a key member of the tiny cadre that created the business plan for Urban Outftters (and remains a shareholder), Free People, and, to a lesser degree, Anthropologie.
Later, Schultz was the global CEO of two British fashion lines, Lulu Guinness Ltd. and Cath Kidston Ltd., but after decamping to the Hamptons, he did an about-face in 2007 and began selling real estate. In 2012, Schultz, who lives in a rambling 1920s-style home in the bucolic Georgica Association, was named the number-two real estate agent in the Hamptons, and he has been listed nationally as one of the Wall Street Journal’s Top Real-Estate Professionals five years running.
Michael Schultz’s listings include this five-bedroom traditional-style home at 409 Bridge Lane in Sagaponack.
You bought your first house in the Hamptons in 1985. How did it go when you first started selling real estate in 2007?
I remember them telling me, “You’ll be lucky to sell just one house in the first year,” and I think I sold 11. Out of all the real estate companies in the Hamptons, I ended up being rookie of the year.
Why do you think your fashion sense and business acumen translated well to real estate?
Buyers tell me what they’re looking for, and I ask the right questions. I was good with fashion and accessories, and I can help them visualize changes.
Do you sell to fashionistas?
Lucy Sykes and her husband, Euan Rellie, the financier, were among my first customers. This summer I sold to a British fashion [gent] in Sagaponack; I invited myself to his house in Ibiza and spent all of August there. And I sold a house to someone senior in the men’s area at Macy’s a few years ago, and now he’s just starting to relaunch Bill Blass [apparel]. He and his wife, who worked with him at Bloomingdale’s, did a really cool job fixing up the house, and I now have it back on the market.
What’s one of your current listings you’re excited about?
It’s on half an acre at 43 Westwood Road in Wainscott. Frankly, it’s one of the least expensive houses you can get south of the highway. You’re a mile and a quarter to the ocean, with four small bedrooms, and the asking price is $2.75 million. From the rear elevation, it reads like a boxy modernist design.
Tell me about one of your current traditional-style listings.
I have a house on Bridge Lane, very near where it crosses the pond. This is a five-bedroom house on almost an acre; I believe it was moved there in the ’50s and then gradually expanded. This is $7.495 million, in mint condition [with] wide plank floors and a real cook’s kitchen.
Not only do you sell homes, you also restore them?
While other people play tennis and golf, I like looking at houses. I’m fixing up a Robert A.M. Stern house on the ocean in Montauk. It’s a Hamptons icon, but it was basically falling down. Anyone else would have ripped it down, but I decided to buy it and fix it up.
What are some of your favorite places to unwind in Montauk?
At The Crow’s Nest, the rib-eye steak is great. At Westlake Fish House, they have fresh sushi and sashimi that come right off the boat. And The Hideaway is a little Mexican place on West Lake Drive.
51 Main St., East Hampton, 899-0254