A grocery store space in Southampton Village, which has been vacant for about two years, will soon be bustling again.
The owners of Red Horse Market in East Hampton have purchased the building at 120 North Sea Road.
“We are grateful to have worked for a longtime local family in representing this asset as the listing agents,” says Jeffrey Sztorc, who is one-half of the team at Hamptons Compass Commercial, along with Hal Zwick. “The property has substantial history within the fabric of Southampton Village serving the community as Schmidt’s Market for many good years.”
The much-loved grocery, deli and catering business, which did not own the building, lost its lease after 43 years in October of 2022 due to rising rent. The Schmidt family opened a new store in Quogue village in March of 2023.
“We are confident that Red Horse Market, represented by Alfredo Barreto from Saunders & Associates, will do an amazing job offering a wide variety of products and great eats to the area, now expanding their reach from East Hampton to Southampton,” Sztorc adds.
The Southampton Press was the first to report that Martha and Fran Pineda bought the building for $6.5 million at the end of October. The last ask was $6.95 million. It orginally listed for $8.
The 1.25-acre property, just outside the core business district, with a total of 6,100 square feet was the only location east of the Shinnecock Canal where a new supermarket could open immediately, according to listing information from Hamptons Compass Commercial.
In addition to the ground floor space, there is 3,700 square feet of storage on the lower level.
The building enjoys a ground-level loading dock to the rear with a ramp and ample parking.
