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Kemper Buys $12.5M East Hampton Retail

EAST HAMPTON, NY-Ross Hilton Kemper buys the retail building here for its top tier location and luxury brand retailers.

By Natalie Dolce | Updated on July 16, 2007

EAST HAMPTON, NY-Los Angeles-based buyer, Ross Hilton Kemper has purchased a prime retail building with street fronts on both Park Place and Main Street in East Hampton, NY. The property, located in the heart of East Hampton’s most exclusive shopping quarter with such neighbors as Tiffany & Co., Gucci, and Ralph Lauren, closed at a purchase price close to $12.5 million.

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.”

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