Three significant commercial buildings in East Hampton and Sag Harbor Village have recently changed hands, including a well-known restaurants, according to a recent announcement from the Hamptons Commercial Real Estate Team at Compass, led by Hal Zwick and Jeffrey Sztorc.
“These three closings demonstrate the depth of demand for high-quality, income-producing commercial properties across the Hamptons,” says Zwick. “Whether it’s iconic restaurant properties, fully stabilized retail, or mixed-use opportunities, investors continue to see long-term value in the East End.”
The transactions include 36 Newtown Lane, home for more than four decades to the beloved Sam’s Pizza with its iconic neon sign, leaving many to wonder what’s ahead. The restaurant reportedly has two years left on the lease.
Zwick and Sztorc represented both the seller and buyer in the $6,450,000 deal, which closed on September 25.
The building includes The Little East, a retail storefront, and two apartments. “All existing tenants will remain in place, ensuring stability for the new ownership,” a statement from the real estate team says.
Also in September, 32 Park Place sold for $3.25 million. The fully leased, single-story multi-tenant retail building off the Reutershan parking lot, offers prime frontage to the village’s main parking lot. Zwick and Sztorc partnered with James Petrie of Compass to represent both the seller and the buyer in the trade, which closed September 5.
In Sag Harbor Village, an iconic mixed-use property sold for $5.9 million, which the team says further highlights investor demand in Sag Harbor’s business district. The building at 117 Main Street includes multiple retail tenants and upper-level residential apartments, enhanced by private outdoor amenities rare for Main Street. Zwick and Sztorc represented the seller, while Barry McGovern of Hedgerow represented the buyer at closing on September 10.
“Each transaction required collaboration, creativity, and market expertise to align the right buyers and sellers,” Sztorc adds.“We are proud to have guided all parties to successful outcomes.”
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