East Hampton, with its lavish oceanfront estates and illustrious residents, is at the top of real estate records in the United States with a home just selling at the highest price ever paid for a residential property, according to a statement.
Mike Hiles, a spokesman for Ross Hilton Kemper tells GlobeSt.com that, "Kemper's first objective is to invest in the top tier locations within the best cities of North America and Europe. His next criteria, is to seek properties that are occupied by luxury brand retailers."
This acquisition will join a significant and growing portfolio of real estate investments by Kemper. A portion of his assemblage includes a building on San Francisco's Stockton Street in the center of the city's Union Square shopping district, and over 50,000 sf of retail space in Chicago's landmark Palmolive Building, located along the renowned North Michigan Avenue shopping district prominently known as the Magnificent Mile.
Hiles says Kemper is actively pursuing core assets that in some instances are located in areas that have been strong for 100 years and will continue to be great for another 100 years. "Kemper believes that that there will always be the desire for luxury, hence the need for luxury retail," he says. "This latest acquisition in East Hampton is in precise keeping with Mr. Kemper's investment philosophy."
A new tenant lease agreement for the East Hampton property is presently being negotiated.
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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.
