Last September, the downtown Montauk building containing Plaza Surf & Sports, along with what was Wok N Roll for many years, was put up for sale. The asking price for the property at 716 Montauk Highway was $8.9 million, which included 12,000 square feet of retail space and 0.34 of an acre.
It didn’t sell. Now the asking price has been lowered to $6.7 million and the acreage seems to be slimmed down as well: it’s now 0.23 of an acre and 9600 square feet of retail. (The empty lot out back, which according to the survey looks like the Land of Cesspools, accounts for the 0.9 of an acre of so discrepancy.) The property is listed by Ed Bruehl at Saunders.
Of course this is an attractive property for retail or a restaurant. There’s 120′ of frontage in Main Street with a lot of foot traffic. The first floor could be divided into three shops, as the building has four C of Os: three retail and one restaurant (wet use with a liquor license). The second floor offers 2500 square feet of restaurant space with some retail as well.
Hint to new buyer: please, please, we residents need Chinese takeout. Double points if you make it good Chinese takeout.
For more information, click here. 716 Montauk Highway, Montauk