East Hampton officials weigh buying former school for $800,000

TRD New York /
Nov.November 27, 2018 05:13 PM

East Hampton Town is again looking to potentially buy the former Child Development Center of the Hamptons, a nonprofit school for children with special needs that closed in 2016, now that the abandoned facility is being foreclosed on, 27east reported. Officials reached an agreement with trustees of the shuttered school to buy the 20,000-square-foot building for only $800,00, less than a third of the $2.6 million it had been appraised at two years ago. Once the town buys the building, officials could issue a request for proposals from nonprofit groups to take over the property, which could need at least $200,000 in repairs. Other prospective tenants have previously been rejected by the town board. The latter will vote on Dec. 6 to terminate the lease with the Child Development Center and purchase the building, which was originally designed by Bates Masi Architects. [27east]


Related Articles

arrow_forward_ios
Robert Futterman charged with DUI in Hamptons car crash

Robert Futterman charged with DUI in Hamptons car crash

Robert Futterman charged with DUI in Hamptons car crash
Rihanna has joined in the mayhem that is the Hamptons rental market. She’s reportedly looking to buy, but first wants to rent. (Getty, iStock)

Rihanna is on the hunt for a Hamptons getaway. And she “doesn’t have a budget”

Rihanna is on the hunt for a Hamptons getaway. And she “doesn’t have a budget”
Marriott CEO Arne Sorenson (center) with StayMarquis co-founders Alex Goldstein and Bryan Fedner (Credit: StayMarquis)

Marriott jumps into Hamptons rental market

Marriott jumps into Hamptons rental market
317 Murray Place (Credit: Bespoke Real Estate)

Southampton compound trades for $58M

Southampton compound trades for $58M
Hamptons market so tight, even landlords seek rentals

Hamptons market so tight, even landlords seek rentals

Hamptons market so tight, even landlords seek rentals
Tonight on TRD Talks Live: Heavyweight brokers on the Hamptons frenzy

Tonight on TRD Talks Live: Heavyweight brokers on the Hamptons frenzy

Tonight on TRD Talks Live: Heavyweight brokers on the Hamptons frenzy
Barry Rosenstein and his Hamptons home (Credit: Aurora Rose/Patrick McMullan via Getty Images, Bespoke Real Estate) 

Hedge funder sells Hamptons home for $37M

Hedge funder sells Hamptons home for $37M
26 Windmill Lane (Credit: Douglas Elliman)

Hamptons compound sells for $45M in area’s biggest sale of the year

Hamptons compound sells for $45M in area’s biggest sale of the year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...