Ground Is Broken On Hampton Business District In Westhampton - 27 East

Real Estate News

Real Estate News / 1414524

Ground Is Broken On Hampton Business District In Westhampton

icon 4 Photos

May 1 -- Mitchell Rechler, Suffolk County Executive Steven Bellone, Southampton Town Supervisor Anna Throne-Holst and Gregg Rechler, from left, break ground on the Hampton Business District at Francis S. Gabreski Airport in Westhampton.

May 1 -- Mitchell Rechler, Suffolk County Executive Steven Bellone, Southampton Town Supervisor Anna Throne-Holst and Gregg Rechler, from left, break ground on the Hampton Business District at Francis S. Gabreski Airport in Westhampton.

AStilbe 'Color Flash'

AStilbe 'Color Flash'

author on Apr 29, 2014

The developers of the long-awaited Hamptons Business District at Francis S. Gabreski Airport in Westhampton were joined by a host of elected officials for a ground-breaking ceremony at the airport on Tuesday morning.

“This is a wonderful, historic day for Suffolk County,” Suffolk County Executive Steven Bellone said at the ceremony. “This is the beginning of something that is critical for our economic future in Suffolk County, and in this region, and we’re making it happen.”

The 440,000-square-foot, nine-building business center has been in the works for the better part of the past decade, though plans to build such a facility date back to the 1970s, according to Southampton Town officials. Rechler Equity Partners took over the project in 2009, when they signed a 40-year lease with the county allowing them to develop 55 acres along the western side of the airport, near the main entrance.

Almost six years later, the plan is coming to fruition.

The first building will take about nine months to construct, according to Mitchell Rechler. Mr. Rechler and his cousin, Gregg Rechler, said they are building a “state-of-the-art” business park.

“The steel will be coming out of the ground in early June,” he said.

Mitchell Rechler said at Tuesday’s event that he did not, off the top of his head, know the estimated cost of the first building. The entire project, he estimates, will reach upward of $100 million.

He said construction on the first building will be completed by January or February of next year, and they expect businesses to move in immediately. Mr. Rechler said his firm is negotiating one lease at this time, but could not disclose the name of the renter yet. The first structure will measure 60,000 square feet in size.

“This has been a long time coming,” he said. “To get to the stage where we’re coming out of the ground means a lot to us and a lot to the community.”

He explained that the number of tenants per building depends on the size of the business and the space available. The complex will include a three-story hotel, a restaurant and office space, as well as room for industrial companies. Over the next several months, Mr. Rechler said, construction will begin on an office building.

At the ceremony, Southampton Town Supervisor Anna Throne-Holst spoke about the image that the Hamptons portrays to the world, and how the business park will help change it to include those who want to live and work in the municipality.

“We are where people come to relax. That’s how the world thinks of us,” she said. “But we’re also a community of hardworking people wanting to make a living, wanting their kids to live here, wanting their grandkids to live here.

“This is the kind of opportunity we need here,” the supervisor continued. “We need to bring jobs here. We need to bring economic development here that is beyond what is ‘The Hamptons.’”

The business park is expected to take several years to complete, according to Mr. Rechler. He said there are many prospective companies interested in leasing space, but did not say how many or when those prospective tenants would be announced.

“This is a wonderful, unprecedented opportunity for this community,” Ms. Throne-Holst said. “This is such an important part of our community moving forward. It serves as a great model moving forward.”

You May Also Like:

‘Sugar Cube House’ Sells With Last Asking Price Of $12 Million

Designed by renowned architect and interior designer Daniel Romualdez, a Southampton Village residence known as ... 2 Mar 2021 by Staff Writer

Community Preservation Fund Revenue For January Is Up 132 Percent

The Peconic Bay Community Preservation Fund raised $21.07 million across the East End in January 2021, a 132 percent increase compared to January 2020, according to the office of New York State Assemblyman Fred W. Thiele Jr. The January 2021 haul is the second biggest for a single month in the history of the CPF. The record was set in December 2020, when the CPF raked in $21.31 million. Each of the five East End towns maintains its own CPF, which is funded through a 2 percent tax on real estate transactions, so watching CPF revenue totals is one way ... by Staff Writer

Francis Fleetwood-Designed Home In Georgica Sells For $9 Million

A residence by architect Francis Fleetwood in the Georgica section of East Hampton Village recently ... by Staff Writer

State Budget Proposal Would Apply Sales Tax To Vacation Rentals

Governor Andrew Cuomo’s proposed New York State budget calls for subjecting vacation rentals to the same state sales tax that applies to stays in hotels. If the measure is adopted, any rental on the South Fork for a period of fewer than 90 days will be costlier starting September 1. The bill aims to raise additional revenue for the cash-strapped state amid the pandemic and to level the playing field between hotels and vacation rental marketplaces, such as Airbnb and Vrbo. It is expected to raise $10 million in fiscal year 2022, which begins April 1, 2021, and then $18 ... 22 Feb 2021 by Brendan J. OReilly

Sagaponack Estate With Pond Sells For $19.8 Million

An 8-acre oceanfront estate in Sagaponack with a main residence, a carriage house and a ... by Staff Writer

Bayfront Dune Road Contemporary Sells With Last Ask Of $11 Million

After fewer than 60 days on the market, a bayfront Westhampton Beach home with a ... by Staff Writer

Water Mill South Estate Sells For $7.6 Million As Pristine Inventory Is Depleted

A south-of-the-highway Water Mill home sold for $7.63 million after a bidding war drove the ... by Staff Writer

Barons Lane Estate Sells For $38 Million

An oceanfront estate in Southampton Village that went on the market in 2017 for $55 ... 20 Feb 2021 by Staff Writer

Express Sessions: Real Estate Experts Share Views Of Current State Of The Market

A host of industry experts offered insight into the state of the East End real ... 16 Feb 2021 by Bill Sutton

Agency News: Town & Country Welcomes Riemerschmid; Morabito Team Welcomes Gray

Town & Country 
Welcomes RiemerschmidMichael Riemerschmid has joined Town & Country Real Estate’s East Hampton ... by Staff Writer
logo

Welcome to our new website!

To see what’s new, click “Start the Tour” to take a tour.

We welcome your feedback. Please click the
“contact/advertise” link in the menu bar to email us.

Start the Tour
Landscape view not supported
Send this to a friend