SAG HARBOR, NY — Friends of Bay Street announced Thursday that the former 7-Eleven property, located at 22 Long Island Avenue in Sag Harbor, was on the market for $25 million — effectively killing future plans for theater development at this location.
In 2020, the Bay Street Theater announced that there were plans for its first “purpose-built home”.
“We have thoroughly reviewed the site and determined that this property is no longer viable for the construction of a theater as originally envisioned,” Adam Potter, president of Friends of Bay Street, said in a statement Thursday. “Therefore, we decided to list and sell the property and retained Compass's Hamptons commercial real estate team to lead the process.”
Tracy Mitchell, executive director of the Bay Street Theater and Sag Harbor Center of the Arts added that with a renewed lease in hand at their current location at 1 Bay Street, the theater will continue to be a “cultural anchor” for the community and the East End.
“Bay Street will remain a vibrant and dynamic cultural hub for the entire East End. The role we have played as a cultural anchor for the village, for over 30 years now, will continue uninterrupted. We are confident about our future and enjoy a loyal, enthusiastic supporter base with a strong year-round programme. We will continue to support our community, artists and over 30 other nonprofits we partner with,” Mitchell said.
Overlooking Sag Harbor Cove and John Steinbeck Waterfront Park, the 0.67-acre property features a 15,000-square-foot mixed-use retail building. The property also includes a 30-spot parking lot and about 300 feet of frontage on West Water Street, according to the listing.
“With panoramic water views and adjacent to a luxury waterfront development, this property has endless possibilities,” said Compass.
“This prime waterfront spot has always been one of the most interesting and talked about in all of the Hamptons. We were constantly approached by interested parties as it is the only downtown retail available on the South Fork,” said listing agent Hal Zwick.
Plans for the future Bay Street facility, unveiled in 2020, included multiple theaters and spaces for the development of new works, special educational facilities and outdoor performances and public space, a release said.
