Corner Building: $10.75 Million
A building on one of the busiest and most prominent corners in Bridgehampton, once planned to house a CVS pharmacy, is now complete and ready for occupancy. What retailer, or retailers, will end up on the first floor remains unknown, with space still available for lease. The property, at 2510 Montauk Highway, next to Starbucks and on the corner of Lumber Lane, has also been listed for sale with Saunders and Associates for $10.75 million for about a month.
Lee Minetree, the listing’s broker, said all of the 3,500 square feet of retail space on the first floor of the 9,000-square-foot building is still available for rent. “We’d like somebody like Ralph Lauren, Apple, something like that,” he said, with a long-term lease. The downstairs can be three separate retail spaces or one. The asking price is about $70 per square foot for the main floor, $45 per square foot for the upstairs, plus additional fees for real estate taxes and common-area maintenance that will be divided among the tenants.
The zoning allows for three offices on the second floor. About 2,300 square feet has been leased, with about 1,220 square feet still available, Mr. Minetree said. While zoned retail, the ground floor could also be turned into office space, he said.
The property is on the site of Wick’s Tavern, which stood from the end of the 17th century to 1941, when it was razed.
BNB Ventures bought the lot for $3.5 million in 2007 from Matthew Worrell, who owned and operated Bridgehampton Beverage in a building that was subsequently torn down. There was interest in Southampton Town purchasing the parcel with money from the community preservation fund, but the idea stalled.
Residents railed against a proposal for a CVS pharmacy in the building, in part because the intersection was already so busy. The Topping Rose House, an upscale restaurant and hotel in an 1840 structure, the Nathaniel Rogers House, also from 1840 and being restored, and Almond restaurant, in a building dating to 1907, are on the intersection’s other three corners. Protests were held over the summer of 2014. The chain store withdrew from the project in early 2015, though construction went forward.
Correction: The downstairs retail space is being rented for $70 per square foot, while the upstairs is $45 per square foot.