The Hamptons Commercial Real Estate Team at Compass, led by prolific brokers Hal Zwick and Jeffrey Sztorc, scored a trifecta of East End investment sales last month totaling $15.6 million.
At 32 Park Place in East Hampton, a 1,600-square-foot, fully occupied multi-tenant retail building on .06 acres was purchased by Levine Investment Partnership for $3.25 million. The sale price equates to a 6.7 percent cap rate.
Zwick and Sztorc partnered with their Compass colleague James Petrie to represent the buyer, as well as the seller, Carlo M. Grossman Revocable Trust, in the sales transaction.
In another deal, R&P Sag House LLC purchased a 4,070-square-foot mixed-use building on .19 acres on 117 Main St. in Sag Harbor for $5.9 million. The property has residential apartments above a retail space on the ground level. The sale price equates to a 6.3 percent cap rate.
Barry McGovern of Hedgerow represented the buyer, while Zwick and Sztorc represented the seller, Jack’s Coffee 117 Main LLC, in the sales transaction.
In the third sale, Robert Zecher of Vault Development Partners purchased a 3,600-square-foot building on .10 acres at 36 Newtown Lane in East Hampton for $6.45 million. The property has two apartments over two commercial tenants, Sam’s Restaurant and The Little East. The sale price equates to a 6.4 percent cap rate.
Zwick and Sztorc represented the buyer, as well as the seller, Samnrose Realty LLC, in the sales transaction.
“These three closings demonstrate the depth of demand for high-quality, income-producing commercial properties across the Hamptons,” Zwick said in a written statement. “Whether it’s iconic restaurant properties, fully stabilized retail, or mixed-use opportunities, investors continue to see long-term value in the East End.”
