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A retail middle in Water Mill has offered for $13.1 million.
Vault Improvement Companions, an actual property funding agency led by Robert Zecher, bought the six-building, 29,500-square-foot retail complicated known as The Mill at 760 Montauk Freeway.
The principally occupied 3.64-acre property has one 4,690-square-foot emptiness, an area previously occupied by Soul Cycle.
“We’re thrilled to amass such a main property in one of the crucial fascinating retail facilities within the Hamptons funding market,” Zecher, CEO of Vault Improvement Companions, mentioned in a written assertion. “We see large potential for The Mill, and our crew is keen to reinforce its choices.”
Hal Zwick and Jeff Sztorc of Compass represented the customer, in addition to the vendor, Watermill Shoppes LLC, within the gross sales transaction.
“Water Mill is the gateway to the jap communities of the Hamptons. Many have thought of it a ‘drive-through.’ That’s going to alter,” Zwick mentioned within the assertion. “Robert Zecher and the crew at Vault will improve the middle from the bodily presence, tenant combine, and ongoing occasions. The locals, day-trippers, and second householders will all have a motive to make the village a vacation spot often.”
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