The former home of the now dried-up Lily Pond nightclub has hit the market for $4.5 million. Quite a bit more than your last bouncer bribe, huh? But ownership of the 5,000-square-foot commercial space comes with its perks, including the opportunity for expansion and the high-end restaurant tenant, Phillipe. As listing agent Enzo Morabito points out, the property is also the "ideal size and setting" for a "bank, office" or "pharmacy." Hmm, a bank. Hard to imagine depositing paychecks in the same place that used to devour them. Regardless, the EMM Group is already set to lease the space and revamp its nightlife concept while Phillipe continues to run the restaurant. And that beats a bank any day.
· Listing: 44 Three Mile Harbor Road [Prudential]
· Lily Pond Coverage [Curbed Hamptons]