Southampton buys Hamptons Bays Community Center for $8.5M

The Hampton Bays Community Center has been sold for $8.5 million — nearly $3.5 million more than expected — in a deal approved earlier this month by Southampton Town Board members, according to 27east. Southampton currently leases the space to store records, act as an annex for its town clerk’s office and operate a senior nutrition program and adult daycare facility, the outlet reported. The town had rented space in the building since 2004 under a 15-year lease, but rather than enter into another sought several appraisals for the property. The total cost, according to 27east, came out to $8.5 million. “We had been paying rent and we had an option to buy,” Town Superviser Jay Schneiderman said during a recent special meeting. “If we don’t exercise the option to buy, the rent actually goes up. We believe that purchasing at this point is in the best interest. The rent that we pay is more than the debt service on the money that we will bond, so we can purchase the facility.” [27east]