One has only to look at the “for lease” signs dominating store windows in East Hampton Village, or any village in America, for that matter, to know that the economy has yet to bounce back with any force. And now one of East Hampton’s landmark businesses has just joined the market: Sam’s restaurant has been listed for $6.5 million with Brown Harris Stevens.
Sam’s, the eatery that has served pizza and libations to the likes of Jackson Pollock at its neon-lit Newtown Lane location since 1947, is on the market for either rent or sale. “For generations one of the most popular dining destinations in East Hampton, the restaurant has a bar, full-service kitchen, and seats 91,” reads the Brown Harris Stevens Web site.
The building also houses a 400-square-foot retail space, currently occupied by John MacWhinnie at Glenn Horowitz Bookseller, which will move this month back to a previous space farther up the road, and two apartments upstairs.
The property is available for lease at an annual rate of $288,000.
Sam Naska and his family ran the restaurant for many years. Sam’s, which has a full-service menu in addition to a pizza menu, is one of the longest-running restaurants on Long Island. Graham Quinn, the current owner, could not be reached for comment.
Directly across the street from Sam’s sits Scoop, an 8,000-square-foot retail space that also hit the market this week, with a listing price of $13.95 million. The building has an additional 3,000 square feet above the clothing store and a 6,000-square-foot basement.
Scoop’s lease on the .15-acre property continues until 2025, but the listing broker, Lee Minetree of Saunders & Associates, said that any purchaser would get “an excellent return” from the rent.
“It’s an investment,” Mr. Minetree said. “You can make more with this than by putting your money in a bank these days.” The Scoop property is owned by Premier Equities, a Manhattan-based real estate firm that specializes in acquiring and developing retail commercial properties.
Mr. Minetree said that “there’s not a ton of stuff for sale, at least not in prime retail space,” meaning the heart of the village. “I think it’s better than in years past.”