Cushman & Wakefield announced today that the real estate services firm has arranged the sale of a 5,000-square-foot retail property located at 1 Main Street in East Hampton. The final sale price was $22,000,000.
Cushman & Wakefield’s Jordan Sutton, Robert Shapiro, Dan Abbondandolo and Victor Little represented the sellers, Elie and Jeremey Tahari, in the transaction. The property was acquired by Bernard Arnault of LVMH.
“We are thrilled to have arranged the sale of 1 Main Street, one of the most iconic retail assets in East Hampton. Luxury brands such as LVMH have embraced the East End of Long Island, not just on a seasonal basis but a full-time lifestyle,” said Sutton.
“Retail pockets such as Main Street have become a critical component to high-end retailers’ marketing and brand recognition. This transaction truly defines the strength of East Hampton’s downtown retail,” added Abbondandolo.
1 Main Street spans 5,000 square feet over two floors. The boutique building features natural light and a spacious layout. The property is currently occupied by Cartier.
“I am aggressively pursuing multifamily opportunities in this market,” said Jeremey Tahari of Tahari Capital. “Please reach out to me directly with any new opportunities.”
The property is located on East Hampton’s Main Street, surrounded by many high-end luxury retailers including Valentino, Chanel and Prada.
