East Hampton, with its lavish oceanfront estates and illustriousresidents, is at the top of real estate records in the UnitedStates with a home just selling at the highest price ever paid fora residential property, according to a statement.


Mike Hiles, a spokesman for Ross Hilton Kemper tells GlobeSt.comthat, "Kemper's first objective is to invest in the top tierlocations within the best cities of North America and Europe. Hisnext criteria, is to seek properties that are occupied by luxurybrand retailers."


This acquisition will join a significant and growing portfolioof real estate investments by Kemper. A portion of his assemblageincludes a building on San Francisco's Stockton Street in thecenter of the city's Union Square shopping district, and over50,000 sf of retail space in Chicago's landmark Palmolive Building,located along the renowned North Michigan Avenue shopping districtprominently known as the Magnificent Mile.


Hiles says Kemper is actively pursuing core assets that in someinstances are located in areas that have been strong for 100 yearsand will continue to be great for another 100 years. "Kemperbelieves that that there will always be the desire for luxury,hence the need for luxury retail," he says. "This latestacquisition in East Hampton is in precise keeping with Mr. Kemper'sinvestment philosophy."


A new tenant lease agreement for the East Hampton property ispresently being negotiated.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.