105-107 Newtown Lane is a prime, mixed-use property in the heart of East Hampton Village.The Property is one of the largest commercial, mixed-use buildings in East Hampton. It includes three street-level commercial units, eight 1 bedroom rented residential apartments, and a separate 4-bedroom, 4-bathroom rental house. The property is fully leased.The Property is 9,342sf (0.21-acres) with 10,900sf of Gross Floor Area in the main building plus a 3,000sf of basement space. This 10,900sf is split roughly into 6,800sf of residential space and 4,100sf of commercial space. In addition, the 1,150sf of garage space may be converted to dry retail.The Property has an excellent location on one of East Hampton's main high streets - Newtown Lane. The site is located on Newtown Lane and the corner of Railroad Avenue. It's within short walking distance of Main Street in the Village of East Hampton. East Hampton's train way station is located diagonally opposite the property. This location has driven absorption such that there has not been a vacancy in a decade.Currently the retail/ café tenants are Hampton Chutney and Zakura's which has turned this corner property into a true gathering place as a dining destination in East Hampton Village.There are no un-utilized development rights available today however, in 2-4 years the town will install a sewer system which will allow for more density throughout town. Thereafter, we believe additional development opportunities will materialize at that time.A truly showcase commercial asset with great recurring income.Inquire with the Hamptons Commercial Real Estate Team for more information.
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