Real LI

If you haven’t heard, Montauk's oceanfront getaway — the Panoramic View Hotel & Residence — is in its final season. The resort is in the process of being converted into luxury villas by Distinctive Ventures of Great Neck.

The new complex -- Panoramic Luxury Villas -- will have about 60 or so waterview villas ranging in size from 2,200 square feet to 4,300 square feet, with prices starting at $2.825 million. Amenities include 24/7 concierge service, an on-site caretaker, a fitness center, a beach attendant, an inground pool and more. These "smart" units will notify the staff if something is amiss -- say, for instance, heat isn't working properly.

And if an owner requires a helicopter or needs to have his or her bills paid while away, that can be arranged too, says Valerie Stone of Prudential Douglas Elliman Real Estate in Brookville, who is handling sales with Barbara Brundige.

Currently the villas are being treated as "condops," meaning they are structured like a cooperative but have the rules and regulations of a condominium. However, in October they will begin the process to convert to condominiums. Rentals will also be available.

Interested in a seasonal rental this summer? A two-bedroom unit can be fetched for $100,000, while larger units are going for $145,000 and $165,000, Stone said.