One of the prime commercial locations in the Village of East Hampton, long a real estate office and retail space, could soon be home to a new retailer now that it’s changed hands.
“We are currently in discussion with major retailers for multi-year leases,” says Hal Zwick of Compass Commercial, who closed the $6.125 million deal for 2 Newtown Lane with Jeff Sztorc (the pair also sold some of the priciest commercial real estate last year).
The two-story mixed-use building was sold on January 31. The last asking price was $6.25 million.
One of the few corner buildings in the Hamptons, Zwick says it is “a showcase building as it is highly visible.” It is also seen by everyone using the crosswalk at the traffic light at Newtown Lane and Main Street.
One of the most visible buildings in the village as it is one of just a few on a corner, the building offers retail on the ground floor and office space on the second floor.
The building had been home to Halstead Real Estate before it merged with Brown Harris Stevens in June of 2020. Brown Harris Stevens is still in the process of consolidating offices in the market areas that had both Brown Harris Stevens and Halstead locations, according to Erik M. Davidowicz, the regional marketing director of Brown Harris Stevens of the Hamptons.
Brown Harris Stevens will soon vacate 2 Newtown Lane to consolidate with its larger office nearby “We are currently renovating our flagship 27 Main Street BHS office and in March we will be re-opening with all of our East Hampton agents working out of that location, including the former Halstead agents. Currently, they are working out of the 2 Newtown Lane office,” Davidowicz said.