Bay Street Theater Nixes New 'Home', Puts Former 7-Eleven On Market

SAG HARBOR, NY — The Friends of Bay Street announced Thursday that the former 7-Eleven property, located at 22 Long Island Avenue in Sag Harbor, was on the market for $25 million— effectively nixing future plans for the theater's development at that location.

In 2020, the Bay Street Theater announced that plans were in place for its first "purpose-built home."

“We have thoroughly examined the site and have determined this property is no longer viable to build a theater as originally envisioned," Adam Potter, chairman of Friends of Bay Street, said in a release Thursday. "Therefore, we have decided to list and sell the property and have retained the Compass’ Hamptons Commercial Real Estate Team to spearhead the process.”

Tracy Mitchell, executive director of the Bay Street Theater and Sag Harbor Center of the Arts added that with a renewed lease in hand at their present site at 1 Bay Street, the theater would continue to be a" cultural anchor "for the community and the East End.

“Bay Street will remain a vibrant and dynamic cultural center for all of the East End. The role we play as a cultural anchor for the village, for over 30 years now, will continue uninterrupted. We are confident in our future and enjoy a loyal, enthusiastic supporter base with a robust year-round schedule. We will continue supporting our community, the artists, and over 30 other non-profits with whom we partner," Mitchell said.

Overlooking Sag Harbor Cove and John Steinbeck Waterfront Park, the .67 acre property features a 15,000 square foot mixed-use retail building. The property also includes a 30 spot parking lot and about 300 feet of frontage on West Water Street, according to the listing.

"With panoramic water views and adjacent to a high-end residential waterfront development, this property has endless possibilities," Compass said.

“This prime waterfront spot has always been one of the most intriguing and discussed in all of the Hamptons. We have been approached constantly by interested parties as it's the only downtown waterfront retail availability on the South Fork," listing agent Hal Zwick said.

Plans for the future Bay Street facility, unveiled in 2020, included multiple theaters and spaces for the development of new work, dedicated education facilities, and outdoor performance and public space, a release said.