The building that houses Sam’s Bar and Restaurant on Newtown Lane in East Hampton Village has been sold to Robert Zecher, founder of Vault Development, and a small group of investors.
The transaction closed last Thursday for $6.45 million. The building also includes a separate 400-square-foot retail space and two upstairs apartments.
“It was a fair price,” said Hal Zwick of Compass Real Estate, who served as the agent.
Mr. Zecher’s company develops single-family residential homes and commercial properties. He built 68 Egypt Lane and 49 Jericho Road in East Hampton Village and 91 Abram’s Landing Road in Amagansett, among others.
Vault also owns the Mill complex in Water Mill and 107 Newtown Lane, the home of Hampton Chutney. Mr. Zecher is also on the board of the East Hampton Village Foundation.
Graham Quinn, the owner of Sam’s since 2007, has a couple of years left on his lease, according to Mr. Zecher. Mr. Quinn is out of the country right now and did not want to comment until after the two spoke about plans for the restaurant.
In a YouTube video about the effect of Covid on his business, Mr. Quinn noted the importance of community to the restaurant and the restaurant to the community, praising its loyalty.
“I had a lady who had her 20th birthday here and her 80th,” he said.
“The seller of the building was the grandson of Sam and Rose, who founded Sam’s — Tom Johnson,” said Mr. Zwick. “He ran the restaurant until he sold it to Graham. Everybody who lives in East Hampton would agree it’s an institution, but Tom lives out of state now.”
There were no protections on the sale, Mr. Zwick said, meaning that when its lease expires, the restaurant could be at risk. The neon sign is “grandfathered for eternity” he added, since it was erected before village code prohibited neon signs.
“Rob Zecher has proven to be a community-minded business owner,” said Mayor Jerry Larsen. “He was the instrument behind putting in Zakura and Hampton Chutney and did a nice renovation of the apartments above those restaurants. I’m sure he’ll be similar and thoughtful with Sam’s. From a selfish standpoint I hope he keeps it Sam’s. I’d hate, after all these years, for it not to be in existence. But it’s the time we live in, and nothing is forever.”
“Just like we’ve done with every other location, we’ll try to empower the businesses that are there,” said Mr. Zecher. “I haven’t had any dialogue with Graham yet about the future. Two years is a long time. The first step is to get to know the tenant and to start to work as the owner of the building. The purchase shows our continued commitment to investing in the middle of East Hampton Village.”
Mr. Zecher said his investors live locally, as he has since 2015. He said most live within a two-mile radius of the restaurant.
“Everybody is going to have the right idea about having this be an accretive part of our food and dining scene,” he said. “I didn’t buy it with a plan in place. I bought it knowing it’s awesome and filled with great tenants and I could make a long-term commitment.”
Sam’s Restaurant was founded in 1947 by Sam Naska and run by his descendants until Mr. Quinn purchased it in 2007. For 12 years before he bought the business, Mr. Quinn tended bar there.
On a recent Monday night, the caramel-colored wood paneling lent the space the same warmth that has drawn customers for nearly 80 years. Every booth in the front room across from the original bar was filled, as were the 10 bar stools, and the small back room was half full. A child bounced on a springy booth bench.
In other village restaurant news, Mr. Zwick confirmed that Village Bistro, Adam Potter’s French-American restaurant, has closed. The restaurant had opened in May 2024 in the spot off Main Street that was the longtime home to Rowdy Hall. Mr. Potter could not be reached for comment.