A prime retail property anchoring the luxury fashion brand Prada in the center of East Hampton Village has changed hands in a significant commercial deal closed in early April 2025.
The two-story building at 2 Newtown Lane, spanning about 4,000 square feet and originally constructed in 1930 with a major renovation in 2012, traded for $10.25 million. This equates to roughly $2,563 per square foot, underscoring the robust demand for high-profile retail space in one of the Hamptons' most exclusive shopping districts.
The seller was Benchmark Real Estate Group, which had acquired the asset in 2022 for around $6.1 million, achieving a strong profit in under three years amid the area's ongoing luxury retail boom. Tahari Realty, a growing boutique brokerage led by managing partner Jordan Sutton and agent Mark Golberg, represented the transaction, highlighting their role in several standout East End commercial trades.
The property remains occupied by Prada as its primary tenant, with reports indicating a mix of other retail or office uses in the space. Its corner location in the heart of East Hampton Village places it amid other elite brands and boutiques, benefiting from heavy foot traffic during peak seasons and the prestige of the surrounding high-end corridor.
This sale ranks among the top commercial real estate transactions of 2025 on the East End, reflecting investor confidence in the Hamptons' luxury market despite broader economic shifts. It follows other notable deals nearby, such as high-value retail properties trading to global luxury conglomerates, and demonstrates how prime leased retail buildings with iconic tenants continue to command premium pricing in this competitive coastal enclave.
