Club Monaco and Tesla on Newtown Lane
Unlike the 2015 holiday season, when downtown East Hampton was marked by vacant stores and signs bearing some version of “See you next summer,” Main Street and Newtown Lane, just in time for Memorial Day weekend, are abuzz with renovations and new occupancies.
There were no fewer than 16 vacancies in the commercial district, said Hal Zwick, director of commercial real estate at Town and Country. But new occupants, many of them well-known international brands, have arrived.
Mr. Zwick, who negotiated many of the new leases, described the incoming tenants as “basically expensive places” catering to “basically city people.” Many of the new leases, he said, are seasonal or single-year leases, “which is what the landlord didn’t want.”
The retail sector in general is suffering, he said, and some recent corporate bankruptcies had contributed to a higher than average supply of space in East Hampton. “This year, there was more supply than demand,” he said. “It was a very intense retail season this year: high supply and major negotiations, let’s put it that way.”
Club Monaco, a clothing and accessories brand, has taken occupancy of 17 Newtown Lane. Across the street, Jeffrey Rudes, a menswear brand with a flagship store in Manhattan’s SoHo neighborhood, is at number 20, a space previously occupied by Haute Hippie. Big Flower, which offers floral arrangements, plants, and gift baskets and also features a Manhattan address, is “opening soon” at 23 Newtown, according to a sign in its window.
Anthony Thomas Melillo, or ATM, a brand with retail locations in a number of states, is set to open at 48 Newtown Lane. Next door, at number 50, is Tesla Motors, the California manufacturer of electric cars that will offer test drives of its Model S sedan and display its Model X sport utility vehicle. And sales and management positions are available at Orlebar Brown, a purveyor of swimwear that has taken occupancy at 55 Newtown Lane.
While Newtown Lane was the site of intense activity this week, another vacancy looms. Scoop, the boutique chain that announced last week the imminent closing of its 15 remaining stores, will leave a large vacancy at 51 Newtown Lane. The New York Times reported last week that Scoop’s retail clothing stores will close in July, though Joel Isaacs of the Isaacs and Company commercial real estate brokerage said on Monday that the East Hampton location might close sooner.
Mr. Zwick delivered a lease on Monday to 20 Main Street, now occupied by the Italian brand Aquazzura, which recently opened a store on Madison Avenue in Manhattan. A June opening is projected, according to a representative at the space previously occupied by BCBGMaxazria.
Farther south on Main Street, Brandy Melville, a clothing and accessories store for young women, has taken occupancy at 50 Main Street. Poupette St. Barth, which has stores on that island in the French West Indies, will open at 52 Main. Across the street, Peloton Cycle, which had an earlier Main Street location, is “opening soon,” according to a sign at 75 Main Street, and will offer exercise equipment and indoor cycling classes.
Many year-round residents lament the ghost-town feeling of a village characterized by shuttered storefronts after the summer season. At least one such business, however, will end that practice. Intermix, which operates 43 women’s fashion boutiques in North America, will keep its store at 87 Main Street open through the winter, Mr. Zwick said, following the company’s acquisition.
“We do expect a very good season out here, so retailers should do well,” Mr. Zwick said. “It just gets down to, how far past Labor Day do they make money?”