Along with the beach, the patio barbecues, and the blue hydrangeas, a big part of the Hamptons scene each summer involves strolling the quaint village streets to check out the newest shops and those returning with their latest offerings.
As always, there’s a batch of newcomers that have arrived in the Hamptons this year, or are soon to open, with formats for fashion, footwear, food or for just plain fun for the kids, enough to make it interesting for those summering on Long Island’s South Fork. Every luxury or upscale brand wants a presence in the Hamptons, whether year-round or a seasonal pop-up. But available commercial real estate remains scarce, indicating that business remains healthy in the area, with the affluent not pulling back on their discretionary spending despite the already sky-high costs of living there that is only increasing. The surging stock market and recent proliferation of Wall Street bonuses make the affluent feel richer. COVID-19 saw an exodus of families from the city to the suburbs, fueling the retail trade, and leaving few businesses abandoning the area and making room for others.
“There have not been many vacancies, just a few,” said Lee Minetree, associate real estate broker at Saunders Associates. “Before COVID after every season, there were vacancies. Since then, the villages, particularly East Hampton and Sag Harbor, haven’t had many. It’s a good thing not to have empty stores, but it’s a bad thing for people looking to do pop-ups.”
