Restoration Anew

    Restoration Hardware, at 69 Main Street in East Hampton, will open its doors on Saturday. The new shop, dubbed the Gallery at East Hampton, will offer “an artful expression of home furnishings in a gallery setting,” according to material from the company, which promises “a complete re-conceptualization of the shopping experience.”

    The store will be open Monday through Saturday from 10 a.m. to 7 p.m. and Sunday from noon to 6 p.m.

Bank Ups and Downs

    An almost $13 million loss in the first quarter has caused Suffolk Bancorp, the one-bank holding company responsible for Suffolk County National Bank, to hold off on filing its quarterly report with the Securities and Exchange Commission, at least until further review can be conducted of the bank’s loans on file.

    In spite of the losses, the bank remains “well-capitalized,” according to a news statement.

    On Tuesday, the bank announced the appointment of Karen Hamilton as the new executive vice president of the corporation, and both the executive vice president and the chief lending officer of Suffolk County National Bank.

    With over 30 years of experience in managing large commercial loan portfolios, “Ms. Hamilton is uniquely well-suited to address the key challenges Suffolk Bancorp faces today,” J. Gordon Huszagh, the company’s president and chief executive officer, said in a release.

Paraco Gas

    To coincide with the opening of a Paraco Gas’s new South Fork office on Springs-Fireplace Road in East Hampton, the company has appointed Tom Bock of East Hampton to serve as its East End sales manager for the South Fork region.

    Mr. Bock is a former fire chief, lifelong South Fork resident, and 30-year member of the East Hampton Fire Department.

    Paraco has recently ramped up its South Fork operations, with daily and weekend gas deliveries and 24-hour emergency response available. The company offers all propane services, from the planning stage to installation and post-installation service and delivery.

    Almost all of Paraco’s employees at the new South Fork branch are members of local volunteer fire departments, which means safety-conscious first-responders are serving customers, Mr. Bock said in a release.

AMAGANSETT

T. DiMatteo  to G. Tannenbaum and Brittis, 59 Shore Road, .34 acre, April 1, $2,730,000.

M. and M. Weissbach to P. Ribustello and Russell, 268 Main Street, .5 acre, April 1, $1,250,000.

J. Schwagerl to L. Lefkowitz and Gelbart, 50 Meeting House Lane, .48 acre, April 4, $5,850,000.

B. Brickman to J. Reiring, 43 Beach Avenue, .3 acre, April 5, $1,400,000.

EAST HAMPTON

G. Lynch by heir to 182 Springs Fireplace, 182 Springs-Fireplace Road, April 6, $330,000.

R. Eck to C. Napoliello, 34 Miller Lane West, .25 acre, April 1, $960,000.

S. Goldblatt to S. Brown, 25 Spring Close Highway, 1.61 acres, April 12, $1,250,000.

Passbro L.L.C. to 50 Talmage Lane L.L.C., 50 Talmage Lane, .6 acre, March 30, $2,875,000.

L. Reichers Trust to 11 Northwest Landing, 11 Northwest Landing Road, 12.25 acres (vacant), March 29, $1,300,000.

EAST HAMPTON VILLAGE

P. and D. Clegg to 160 Montauk Highway, 160 Montauk Highway, .45 acre, March 30, $685,000.

MONTAUK

K. and L. Swanson to L. and N. Wagenberg, 59 Tern Drive, .17 acre, March 29, $555,000.

J. and T. Fischetti to D. Mezzalingua, 19 Lakeside Court, 1.03 acres, April 1, $2,275,000.

J. Drobecker to T. Berger, 29 South Federal Street, 1.1 acres, March 4, $860,000.

A. Giordano Trust to P. Giordano, 15 Deforest Road, .54 acre, March 22, $925,000.

NORTH HAVEN

Long Island Railroad to East End Ventures, Ferry Road, (vacant) April 6, $201,000.

SAG HARBOR

R. Smyth Jr. to 103 Collingswood Drive, 103 Collingswood Drive, .74 acre (vacant), April 6, $360,000.

J. Kuller to 188 Redwood L.L.C., 188 Redwood Road, .31 acre, April 8, $1,325,000.

B. Levy to T. and K. Redwood Associates, 64 Redwood Road, .41 acre, April 5, $1,385,000.

McGowan and Constantin to D. Felden and L. Lagnado, 18 Bridge Street, March 10, $380,500.

SPRINGS

E. and T. Kalbacher to M. and R. Pino, 10 Rutland Road, .43 acre, April 6, $510,000.

Field, Cerasani, and Moren to D. Barton, 5 Hill Side Lane, .4 acre (vacant), March 17, $160,000.

P. Strugatz and C. Clark to 145 Neck Path L.L.C., 145 Neck Path, 1.93 acres (vacant), April 4, $415,000.

WAINSCOTT

J.P. Burkhart II to 102 W.S.H. L.L.C., 102-104 Wainscott Stone Highway, .78 acre, March 30, $950,000.

The prices below have been calculated from the county transfer tax. Unless otherwise noted, the parcels contain structures.

Data provided by Suffolk Research Service of Southampton

The prices below have been calculated from the county transfer tax. Unless otherwise noted, the parcels contain structures.

EAST HAMPTON

L. and E. Foster to M. Messemer, 5 North Cape Lane, .63 acre, Mar. 28, $650,000.

W. Langer to J. Winther and S. Perry, 19 Van Scoy’s Path West, 1.8 acres, April 7, $1,900,000.

MONTAUK

J. Scoglio to J. and N. Gentile, 6 Gull Road, .17 acre, April 15, $676,000.

J. and D. Iaqunito to J. and I. Lowe, 128 Adams Drive, .23 acre, April 6, $855,000.

R.J. Riggins and L Riggins to D. and R. Dickson, Franklin Drive, April 1, $1,560,000.

NOYAC

Timeless Homes Ltd. to A. Lange, 33 Shadyrest Drive, .54 acre, April 11, $720,000.

M. and D. Roeloffs to R. and L. Marsden, 91 Harbor Watch Court, 1.38 acres, April 12, $1,575,000.

SPRINGS

D. and C. Buckley to M. Scaraglino and J. Adamo, 189 Old Stone Highway, .46 acre, April 6, $585,000

Data provided by Suffolk Research Service of Southampton

Oh Those Rays

    WellNest, a store on Main Street in Sag Harbor that sells “environmentally friendly lifestyle products,” will be selling products to protect people from the sun, including sunglasses, on Sunday. Fifty percent of the proceeds will go to the Melanoma Research Alliance. The store will be open from 10 a.m. to 5 p.m.

FreshDirect’s Back

    FreshDirect, a door-to-door grocery delivery service, is back for the summer, starting today in advance of the busy holiday weekend. Many of its products are from Long Island farms. It also offers brand-name groceries and freshly prepared meals. More information can be found online at freshdirect.com.

Saunders Expands

    Saunders and Associates, a South Fork real estate brokerage firm, has expanded into Southampton Village with a new office at 14 Main Street.

    “In less than three years, 70 of the area’s finest dealmakers have joined our firm,” Andrew Saunders, the owner, said of the company’s growth. “Providing a beautiful and state-of-the-art work environment for our brokers is an integral component of our successful model.”

    The new office will officially open tomorrow. More information is at HamptonsRealEstate.com.

Nardy Up for Award

    Michael Nardy, whose grandfather started Nardy Pest Control in South­ampton, has been selected as a finalist for the Ernst and Young Entrepreneur of the Year award for New York. His business, Electronic Payments in Cal­verton, has been listed as one of the 500 fastest-growing privately held companies of the past three years.

    Mr. Nardy started the company, which offers credit card processing and other financial services, at the age of 19. He is now 30 and as chief financial officer is responsible for more than two dozen employees. The company has 450 sales representatives in the field  and last year took in $42 million in revenue.

Brown Harris Stevens App

    Looking for a local real estate application for your mobile phone? Look no further. Brown Harris Stevens is offering owners of Droids, iPhones, and Nokia Ovis a chance to see what housing is out there using the devices. The new app, the first of its kind on the South Fork, can be found at the business’s Web site, bhshamptons.com.

For Medical Needs

    Home medical supplies are now available at Erik Petersen Physical Therapy in East Hampton. Among the items are mobility equipment and related devices, diabetic supplies, and incontinence supplies. The office is at 400 Pantigo Road.

S.N.L. at Varvatos

    On Saturday John Varvatos at 54 Newton Lane in East Hampton will celebrate Mary Ellen Matthews, a “Saturday Night Live” photographer. Portraits on display will depict musicians, hosts, and special guests from two decades of the late-night comedy show.

    Ms. Matthews will also take portraits of those who make a $250 purchase or a charity donation of the same amount. Ten percent of the proceeds will benefit the Animal Rescue Fund of the Hamptons. Cocktails are at noon. Portraits are from 2 to 6 p.m.

Made in East Hampton

    Made, a store of artisan works at 27 Race Lane in East Hampton, will open on Saturday. With unusual international and local finds, Made represents a return to “the olden days when people made things with their hands and were proud of it,” Eleni Prieston, the owner, said. Artists will be able to take commissions, and pieces in the store will vary depending on “inspiration and change,” according to Ms. Prieston.

    Store hours are Thursday through Saturday from 10 a.m. to 5:30 p.m. and Sunday from noon to 4 p.m.

Second Soul

    SoulCycle, an indoor cycling center, is opening a new store on Newtown Lane in East Hampton this weekend. Its Bridgehampton store on Butter Lane will be reopening at the same time — 8 a.m. to 6 p.m. on Saturday and Sunday — with classes, photo booths, treats from Anke’s Fit Bakery, fresh coconut water, cycling gear, and more. The East Hampton shop will have 60 bikes.

The prices below have been calculated from the county transfer tax. Unless otherwise noted, the parcels contain structures.

AMAGANSETT

Chicago Title Insurance to N. Macray, 46 Montauk Highway, .4 acre, March 9, $3,500.

EAST HAMPTON

G. Lacinski and C. Pagoota to J. McCue, 28 Miller Lane, .13 acre, Dec. 15, $550,000.

M. and M. Brandt to D. Floyd and D. Bernard, 3 Wigwam View Lane, .4 acre, March 4, $650,000.

M. Jones Trust to Flex Development, 57 Edwards Hole Road, .58 acre (vacant), March 3, $231,975

MONTAUK

Estate of AgapeWorld to M54 Properties L.L.C., 1 Wills Point Road, 1.92 acres, March 9, $1,400,000.

M. and S. Purser, to R. and L. Hammer, 11 Farrington Place, .48 acre (vacant), March 3, $280,000.

M. and A. McGrath to R. and M. Poli, 4 Rehan Avenue, .17 acre, March 14, $680,000.

NOYAC

S. Horn to R. Nelson, 1345 Millstone Road, 2.35 acres, March 9, $735,000.

SPRINGS

Halati and Delourenco to P. Bals, 439 Three Mile Harbor-Hog Creek Road, .48 acre, March 4, $532,500.

CTJV II L.L.C. to E. Berthou, 70 School Street, .61 acre, March 4, $1,550,000.

A. Koylan to D. Cornett Jr., 68 Sandra Road, .8 acre, March 14, $410,000.

Data provided by Suffolk Research Service of Southampton

Bank Announced Loss

    Suffolk Bancorp, the parent company of Suffolk County National Bank, announced a loss for the first quarter of 2011, with a loss-per-share of $1.33, in comparison to earnings of 16 cent during the same period last year. The net loss was $12.8 million, compared to the net income in 2010’s first quarter of $1.53 million, according to a press release issued by the company last week.

    The Riverhead-based bank believes that the key reason for the change in performance is a provision for loan losses of $29.7 million, an increase of just over 236 percent from the first quarter of 2010. This was a result of a mix of stalled construction projects, reflecting the unstable local economy, and internal refinement and standardization of the credit risk rating and classification system, it said.

    “I am disappointed by these results,” J. Gordon Huszagh, Suffolk’s president and chief executive officer, said in the release. He said that to restore the bank to profitability it is hiring a new loan administrator and additional underwriting staff, reappraising commercial real estate to secure loans, changing its credit policy, exploring asset sales, and hiring a new chief lending officer.

    Notwithstanding the quarterly loss, the bank said that it remains well capitalized and “continues to meet the individual minimum capital ratios as determined previously in agreement with regulators.”    R.F.

Two New Companies

    Ana P. Grijalva and Judy Slopnick have launched two companies, Family Value Planning Group in East Hampton and Infinity Umbrella Group of Montauk.

    Their Web site fvpgroup.com offers a look at life and health insurance possibilities, and iuginc.com gives options for property and casualty plans. The budding companies also offer help with discount drug plans and other products, like pension planning.

A Perfect Wedding

    Claudia Hanlin’s Wedding Library and Corinne Soikin Strauss’s Hampton Wedding announced a formal business partnership last week, bringing together wedding and event planning services with offices in Manhattan and Wainscott.

    The team styles itself as the perfect wedding, so to speak, of experienced New York and East End event planners, with tent, private house, vineyard, and beach weddings in the Hamptons as its primary focus. “The strength of our combined companies is much greater than its parts; having offices in New York City and the Hamptons is a brilliant convenience for our clients,” said Ms. Strauss.

To Address Small Businesses

    Representative Tim Bishop will be the guest speaker at the April meeting of the Sag Harbor Chamber of Commerce next Thursday.

    The dinner meeting at Page, the new restaurant at 63 Main Street, will begin at 6:30 p.m. with networking and a cash bar. A three-course dinner will follow, with a talk by Mr. Bishop focusing on passed and pending legislation affecting small businesses. All business owners will be welcomed, whether they are members of the chamber or not.

    The cost is $31 per person, including tax and tip. Reservations are a must and can be made by calling 838-4945 or e-mailing [email protected].

AMAGANSETT

D. Caldwell to Taxi East Real Estate, 159 Atlantic Avenue, .3 acre, Mar. 10, $1,875,000.

EAST HAMPTON

E. and G. Crane to M. Baldinger, 56 Huckleberry Lane, Mar. 4, $800,000.

M. Braverman to G. Fitzgerald, 103 Swamp Rd, 3.97 acres, Mar. 16, $1,200,000.

D. Falborn to E. Carney, 19 Country Lane, .46 acre, Mar. 11, $570,000.

MONTAUK

L., S., R., and T. Hott and Trust to E. and L. Cahill, 90 Soundview Drive, .57 acre, Feb. 19, $990,000.

J. Maxwell to J. Zorbo, 61 Gannet Drive, .17 acre, Mar. 11, $395,000.

E.T. Sigler and E. Sigler by executor to G. Bokine, 20 Elizabeth Place, Mar. 11, $520,000.

NORTH HAVEN

E. Ryan to A. and B. Kriegsman, 126 Ferry Road/Route 114, 1.2 acres, Mar. 11, $1,100,000.

NOYAC

IFS Properties L.L.C. to C. Cassa, 158 Stoney Hill Rd, .35 acre, Mar. 9, $470,000

SAG HARBOR

K. and K. Fleischman to H. Tagliaferro, 93 Mount Misery Drive, .84 acre, Mar. 14, $450,000.

D. Glazebrook to J. Bronstein, 9 West Drive, .74 acre, Jan. 26, $550,000.

A. Diana to J. Vaccari, 26 South Harbor Drive, .43 acre, Mar. 9, $1,600,000.

D. Meves to J. Van Dalen, 18 Bridge Street, Mar. 11, $313,000.

SPRINGS

L.T. Cesca, and C. Cesca to K. Smallwood, 7 King’s Point Road, .42 acre, Mar. 11, $476,000.

S. Engel to A. Azoulay, 46 Briar Croft Drive, .93 acre, Mar. 3, $1,200,000.

Margaret Cardy L.L.C. to L. Carter, 32 Gardiner’s Lane, .14 acre, Mar. 11, $575,000.

WAINSCOTT

H. Wolfson to P. McKee and J. Zabinski, 107 Town Line Road, .94 acre, Mar. 15, $2,900,000.

    Two more reports issued this week confirmed the decline in East End real estate sales in the first quarter of this year compared to the first quarter of last, though again this may speak more to the high returns spurred by last year’s tax incentives for home buyers than to the state of this year’s market.

    Brown Harris Stevens released its East End residential market report for the first quarter of 2011, which showed its average price down 21 percent to $1.4 million. The company surmised that anxious buyers, who feared the Bush tax cuts would expire at the end of 2010, locked in sales at lower rates in the last quarter of 2010, hurting prices over the past few months. (The cuts were ultimately extended by Congress in December.)

    The median price across the East End decreased by 26 percent to $775,000, in part, the report noted, due to a shift toward houses priced under $1 million. East Hampton Town saw its median price fall substantially (over 25 percent, to $840,000), as previous reports have suggested. The median price drop was even larger in the Southampton market, where it fell 30 percent to $977,500.

    Corcoran put its report out as well, showing a similar, if less pronounced, downward trend. Its first quarter report showed median sales prices down 9 percent, but the average price up 5 percent. Amagansett was a bright spot, with the average sales price up 29 percent to just over $2 million and the median sales price increasing 13 percent to $1.45 million.

    Sag Harbor, too, saw gains, with average and median sales prices both increasing over 20 percent. Steep drop-offs in East Hampton, especially the village — where the average price plummeted by over a quarter, median prices fell by 12 percent to $2.9 million, and total sales volume tanked 60 percent — made the big picture significantly more negative.

    Indeed, total East End sales volume has been dropping each quarter since the first of 2010, and that continued this time around. The weaker performance was attributed to a burst of demand in the first quarter of last year, tax incentives that encourage home ownership having been extended by Congress for much of 2010, though they were not renewed again this year.

    Corcoran described it as a trend toward more normal sales levels, rather than a cause for concern.

BRIDGEHAMPTON

Pulver estate to John Edelman, Church Lane, $330,000.

Tuff to Angelika Morrison, Butter Lane, $155,000.

Rachline to Zurab, Elana, and Vasiliy Tsereteli, Jack and Jill Drive, $750,000.

EAST HAMPTON

Hollow Oak Estates L.L.C. to Nancy Nagel, Holly Place, $580,000.

Neuhaus to Kathleen Jackson, Inkberry Street, $215,000.

Dello Joio to Steven and Carol Antler, Cottage Avenue, $1,600,000.

MONTAUK

de St. Aubin estate to Lisa Spellman, Miller Avenue, $317,000.

NORTHWEST

Eulau to The Leisure Tech Group Ltd., Old Northwest Road, $165,000.

Alwine Woods Assoc, L.P. to Norman Brosterman, North Bay Lane, $160,000.

Graue to Ernst and Helga Lurker, Bull Path, $475,000.

NOYAC

Schwartz to Dominick and Linda Castriota, Holden Court, $350,000.

SAGAPONACK

Silverman estate to Manning Dev. Corp., Parsonage Pond Road, $375,000.

Hedges to Charles Rich Design/Build Inc., Hedges Lane, $295,000.

SPRINGS

Eskow to Jay and Kathleen Greenberg, Red Dirt Road, $350,000.

Titan to Eric and Tracy Rajkowski, Fourteenth Street, $158,000.

WATER MILL

Henry to Holly Dunham, Wilderness Trail, $360,000.

Gaston to Blake Estates L.L.C., Deerfield Road, $1,525,000.

   Data provided by Long Island Profiles Publishing Co. Inc. of Babylon.

As rumors of a possible 7-Eleven store in a long-shuttered restaurant on Montauk Highway circulated Friday morning, the sound of a collective big gulp could be heard in Amagansett, even as some town officials said they could not confirm the buzz.

Yvonne Principi-Velasquez, one of the property's owners, did not confirm or deny the rumors, saying only that she would “prefer to wait until the store opens” before discussing the project.

But Rona Klopman, an Amagansett resident and the chairwoman of the hamlet’s citizen advisory committee, said she had spoken to someone on a construction crew at the site Thursday who told her the building was being transformed into a 7-Eleven.

Last year, some residents of Montauk railed against a 7-Eleven store -- the first in East Hampton Town -- that opened on Main Street. Many said the store interferes with independent local businesses.

East Hampton Town's architectural review board would be the first agency to know just what is planned if and when it receives an application for a new sign for the site.

A 7-Eleven “has not been the message,” Robert Schwagerl, the chairman of the board, said on Friday. He explained that the board has not reviewed an application for a sign.

However, the owners of the new Montauk 7-Eleven were cited in the fall by East Hampton Town for failing to obtain permission for two signs there. While that matter is pending, the two, brightly illuminated signs remain in the store's front window.

The Principi family, which owns the property near the IGA in the hamlet, received approval recently from the architectural review board for minor exterior changes to the building. Mr. Schwagerl said he is not sure what the family plans to do.

Thomas Preiato, the East Hampton Town senior building inspector, confirmed Friday that the Building Department has issued a permit for a façade change and some minor interior changes to the building, but he did not know who the owners plan to take on as a tenant in the space.

As for a 7-Eleven, he said, “It’s possible it could be, and it would be permitted.”

The property is zoned commercial business, and a retail such as a convenience store would be legal there.

As recently as last summer, the building housed an art gallery called Villa 421.

“Right now, I have no concrete basis to say it is a 7-Eleven,” Mr. Preiato said.