Real Estate
Former Hospital Thrift Shop Sells for $4 Million
Flying Point Surf & Sport owner buys building; Douglas Elliman Real Estate donates $100,000 of transaction proceeds to hospital foundation.
The building that formerly housed the Southampton Hospital Thrift Shop in Southampton Village has found a buyer, after sitting vacant since 2008.
According to Douglas Elliman Real Estate, which brokered the $3.95 million sale, the purchaser is Mark Zucchero, the owner of Flying Point Surf & Sport, which has multiple stores in Southampton Village and throughout the Hamptons. Zucchero plans to open an apparel and sporting goods store at the location.
Paul Brennan, the Hamptons regional manager for Douglas Elliman and a board member of the Southampton Hospital Foundation, represented the hospital, and Douglas Elliman agent David Schiffman, of the firm's Bridgehampton office, represented Zucchero.
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Douglas Elliman took $100,000 of its profit from the sale and donated it right back to the Southampton Hospital Foundation.
“The community relies heavily on the Southampton Hospital because it is the only large scale medical facility in the region," Brennan is quoted as saying in a statement from the real estate firm. "Through volunteers and donations, the thrift shop has done a lot over the years to support the hospital. To that end, we at Douglas Elliman felt strongly about donating a large portion of the money earned in the sale back to the Southampton Hospital Foundation where it would do the most good."
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Located at 79 Main Street, the 2-and-a-half story building was described in the real estate listing as "approximately 4,700 square feet with additional space on the third-level for living quarters."
At the time that the thrift shop moved to a leased space on West Main Street, hospital officials said the store nets about $100,000 a year for the hospital while the building was estimated to be worth around $5 million, so it made more sense to sell it off than to stay put.
“We are thankful to the Douglas Elliman team for its history of philanthropic support for Southampton Hospital and their professionalism in marketing and selling the hospital’s former thrift shop building," said Southampton Hospital President and CEO Robert Chaloner.
