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East End's Costliest Commercial Deals of 2024 Revealed

Behind the Headlines: How Commercial Real Estate Transactions Shape Our Economy and Community in the East End

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    The East End's commercial real estate scene is often overshadowed by residential sales, but it plays a significant role in shaping the local economy and community. Behind The Hedges compiled a list of the top 24 commercial sales on the East End for 2024 using Suffolk County deed transfers available through January 3, 2025, and consulting with brokers and brokerages.

    We will update this list if we discover any other large commercial sales that closed before the New Year. Here are our top 24 commercial sales of '24:

    1) 31 West Water Street, Sag Harbor | $66.5 million

    Blue Flag Capital purchased Baron's Cove, a hotel and restaurant in Sag Harbor Village, for a staggering figure on June 25.

    2) Gosman’s Sale, various addresses, Montauk | $33.08 million

    The nine parcels involved in the sale of Gosman family properties traded Oct. 21 for a total of $33,082,868.

    3) Sands Motel, various addresses, Montauk | $23,500,900

    The Sands Motel complex sold to Enduring Hospitality on March 22 for just slightly more than $23.5 million.

    4) Dime Community Bank building, Montauk | $20 million

    The Farrell Companies purchased the two-story, 10,000-square-foot colonial building at the corner of Snake Hollow Road and Montauk Highway on June 18.

    5) 1871 Old Country Road, Riverhead | $9 million 

    Strain Stars, Riverhead's first recreational cannabis dispensary, opened its doors at this location in December after a sale that closed on June 18.

    6) 15 Hill Street, Southampton | $8.4 million

    The largest commercial building in the heart of Southampton Village was sold on Jan. 31 for $8.4 million.

    7) 120 Main Street, Sag Harbor | $4 million 

    Tarique Chaudhary purchased the historic building that houses the Sag Harbor Pharmacy under 120 Sag Harbor LLC on Jan. 10.

    8) 1021 and 1065 Flanders Road, Flanders | $3.9 million

    An oddly shaped, nearly 18-acre property was sold to Marcar Holdings LLC on June 4 for $3.9 million.

    9) 88 Mariner Drive, Southampton | $3.4 million 

    A 7,700-square-foot storage, warehouse and distribution facility sold to DCAL Properties LLC on Feb. 8.

    10) 245 County Road 39, Southampton | $3.275 million

    The Antiques Center Southampton property was sold for the asking price on Jan. 11 after being listed in May 2023.

    11) 240 Fort Pond Road, Montauk | $3.25 million

    The Old Harbor House restaurant reopened as the upscale Montauk Project Restaurant & Lounge after selling to new owners on Feb. 28.

    12) 978 Montauk Highway, Water Mill | $3.2 million 

    A newly renovated building zoned for highway business with a mix of residential and commercial space sold to 978 Montauk Hwy Real Estate Holdings LLC on May 13.

    13) 2745 Tuckers Lane, Southold | $3.15 million

    A 28.3-acre parcel with a vineyard and tasting room was sold in September for $3.15 million.

    14) 471 County Road 39, Southampton | $3 million 

    A multi-use property with two buildings on it sold to Not What We Do LLC on Oct. 18.

    15) 1199 Old Country Road, Riverhead | $2.515 million

    The now-vacant building at the corner of Old Country Road and Harrison Avenue changed hands on Jan. 26 for $2.515 million.

    16) 61 Culver Street, Southampton | $2.5 million

    A former boarding house located in the heart of Southampton Village was sold to Culver Street SH Holdings LLC on August 28.

    17) 801 Montauk Highway, Montauk | $2.4 million 

    A mixed-use building with a one-bedroom apartment and office space or retail use sold on Aug. 16 for $2.4 million.

    18) 835 1st Street, New Suffolk | $2.24 million

    Legends Restaurant and its adjacent cottages were sold in early February after being listed in 2022 for $4.25 million.

    19) 1105 Old Country Road, Riverhead | $2.25 million 

    The commercial property at the corner of Old Country Road and Harrison Avenue was renovated before selling to 1105 Main Road LLC on April 19.

    20) 1228 East Main Street, Riverhead | $2.1 million

    A standalone building holding several medical-related offices sold to Hum Riverhead LLC on Oct. 11 for $2.1 million.

    21) 264 North Sea Road, Southampton & 64 Old Riverhead Road, Westhampton | $2 million 

    Two properties tied in the 24th spot of 2024: a converted residence in Westhampton Beach sold to Rutigliano & Galletta West Hampton LLC on June 12, and a real estate office located on North Sea Road was sold by Joan O'Donoghue to Hedges Realty Holdings LLC.

London's East End commercial property deals revealed for 2024 financial year.