Robert Zecher & Ben Rinzler Complete Sale Of Retail Properties For $39M In Water Mill
670 Montauk Highway & 760 Montauk Highway
$39,000,000
$33/SF
Building Size
1,149,271 SF
Asset Type
Retail
Closing
Apr 12, 2026
AI
The asset involved in the transaction is a retail property located at 670 Montauk Highway & 760 Montauk Highway in Water Mill. The sale price is $39,000,000, and the total square footage of the property is 1,149,281, which translates to a price per square foot of $34.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $39,000,000
- Square Footage: 1,149,281
- Price per Square Foot: $34
- Seller: Robert Zecher & Ben Rinzler
- Brokers: Hal Zwick & Jeffrey Sztorc - Compass
- Transaction Date: 4/13/2026
- Address: 670 Montauk Highway & 760 Montauk Highway
- Market: Water Mill
The individuals representing the deal include Robert Zecher and Ben Rinzler as sellers, with brokerage representation provided by Hal Zwick and Jeffrey Sztorc from Compass. Their roles were crucial in facilitating the sale transaction while ensuring the interests of the sellers were adequately represented throughout the deal.
Players
Water Mill Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93