Elizabeth Bistrian moves through the East End with the kind of ease that only comes from growing up here. To her, it’s not just a cluster of dots on a map. It’s a web of hamlets and backroads, local shops, family names that pop up again and again, and an economy that shifts with the seasons. She’s seen how February’s stark quiet feels worlds away from August’s crush of summer people. And if you stick around long enough, you notice how a business can rise or fall depending on how well it fits the community — how much its owner understands the unpredictable tides of this place.
Lately, Bistrian’s turning that local knowledge into something bigger. She’s teamed up with Susie Noddle at The Agency Hamptons to launch a new commercial real estate practice. Noddle brings decades in the game — she knows the nuts and bolts, the behind-the-scenes work that keeps the wheels turning: acquisitions, leasing, repositioning, investment, you name it. Bistrian knows the terrain, both literally and figuratively. Put them together, and you get a team that sees both the ground-level nuance and the big picture.
The East End is changing. More people are staying year-round, but running a business isn’t getting any cheaper. The kind of space that used to make sense might not anymore. These days, owners want rooms that work in January, not just July. Some are wondering what else their buildings could be. That’s the gap Bistrian and Noddle are stepping into — that uncertain stretch between what the Hamptons and North Fork used to be and whatever it’s turning into next. This isn’t just about transactions. It’s about knowing how to sense where things are heading, and helping neighbors make sense of it all, one property at a time. In this installment of Beyond the Broker (a series James Lane Post has partnered with the Agency on), we introduce the commercial team of The Agency on the East End.
What prompted the two of you to come together to form a commercial real estate team within The Agency?
Elizabeth Bistrian: We were introduced by the principals of The Agency Hamptons, and it quickly became clear how complementary our backgrounds were. I bring deep roots on the East End and an understanding of the people, businesses, and communities that shape it, while Susie brings decades of commercial development, investment, and advisory experience. We also share a belief that there is an opportunity to approach commercial real estate here differently, with relationships and long-term strategy at the center. The Agency gives us the platform, resources, and global reach to build that vision.
What do you each bring to the partnership, and how do your strengths complement one another?
EB: Our different paths are really the strength of the partnership. Susie has worked in commercial real estate and development since 1990 and understands every stage of a project, from acquisition and development strategy to leasing and investment. I grew up in Amagansett and bring a lifetime of local knowledge, relationships, and an understanding of how the East End has evolved. There is also a natural mentorship between us. We are combining decades of experience with a new generation of local commercial leadership, and we learn from each other constantly.
Why commercial real estate, and why now?
Susie Noddle: The East End is at an important point in its evolution. We remain a seasonal destination, but the year-round community has grown, businesses are adapting, and the needs of the people who live and work here are changing. At the same time, there are existing commercial properties that may need to be repositioned for the next generation. That creates tremendous opportunity, but it requires thoughtful advice. Commercial real estate isn’t just about buildings. It’s about investing in the future of our communities.
What is your vision for the team, and what types of commercial properties and clients will you be focusing on?
EB: We will focus on all types of commercial properties including development projects and repositioning of existing properties.
SN: Our vision is to build a true commercial advisory practice for the East End. We will work across investment sales, retail, office, hospitality, mixed-use, development sites, and commercial properties, representing owners, investors, developers, landlords, tenants, and business operators. We are particularly excited about development advisory, site selection, and repositioning existing properties because those assignments allow us to become involved much earlier and help clients think strategically about what an asset or business can become.
How do you see the East End commercial real estate market right now? What are you seeing that is particularly interesting?
SN: It is a market in transition, which makes it especially interesting. The growth of the year-round population is creating new demand, while high real estate and operating costs are forcing owners and businesses to think more strategically. We are interested in what happens between those two forces. There are properties throughout the East End that may have a different highest and best use today than they did ten or twenty years ago, and there is an opportunity to rethink them in ways that make sense both economically and for the community.
What types of properties, commercial or otherwise, are generating the most interest from buyers and investors?
EB: Retail remains strong, particularly in established village locations, but we are also seeing an interesting movement among commercial and service businesses that want to be closer to their East End clientele. The businesses that support homes, hospitality, and everyday life here increasingly see value in having a physical presence on the East End. That creates opportunities beyond the traditional Main Street commercial property.
Are there opportunities in the East End commercial market that you think are being overlooked?
EB: Absolutely. We think some of the most interesting opportunities come from looking beyond the obvious trophy properties and asking what the year-round community and local businesses actually need. Service businesses need functional space. Growing companies need offices and storage. Entrepreneurs need locations that work economically beyond July and August. There is tremendous value in understanding those needs and identifying properties that can meet them.
How has the growth of the year-round population and changing demographics of the East End affected real estate?
SN: Pricing is the most visible change, but the more interesting shift is how people use the East End. A larger year-round population creates demand for services, restaurants, retail, office space, and other businesses outside of the traditional summer season. That opens up opportunities, but it also raises important questions around infrastructure, workforce housing, and affordability. Those issues are increasingly interconnected with the future of commercial real estate here.
What are you hearing from local business owners about the challenges and opportunities of operating on the East End today?
SN: The cost of operating here, staffing, and seasonality remain significant challenges. At the same time, there is enormous opportunity because the East End continues to attract an extraordinary customer base and some of the best operators and brands in the world. What we don’t want to lose in that evolution are the independent and locally rooted businesses that give these communities their character. Part of our role as advisors is helping owners and operators find creative solutions that allow both established local businesses and new concepts to succeed here.
Elizabeth, you’ve lived in Amagansett your entire life. How has watching the East End evolve firsthand shaped the way you approach real estate?
EB: When you grow up here, you understand that every hamlet has its own identity and history. You remember what occupied a building before, you know the families and businesses that have been part of the community for generations, and you see firsthand how different the East End is in February than it is in August. That history makes me think about commercial real estate beyond the transaction. These properties and businesses become part of the fabric of our communities, and I feel a responsibility to understand that when advising a client.
How does either of your deep knowledge of the local community and your network of businesses and service providers translate into an advantage when working with commercial clients?
EB: Relationships are incredibly important in commercial real estate, particularly on the East End. A project can involve owners, operators, architects, contractors, attorneys, lenders, local officials, and community stakeholders before it ever opens its doors. Understanding that ecosystem helps us connect clients with the right people, anticipate potential challenges, and navigate the process more effectively. Susie’s development experience combined with my local relationships gives us the ability to look at both the project itself and the environment around it.
What do people from outside the area sometimes misunderstand about investing in or operating a business on the East End?
SN: The true seasonality of the market. Our year-round population is growing, but the economics of August simply cannot be applied to January. Traffic patterns change, staffing becomes more difficult, and consumer behavior shifts significantly throughout the year. Workforce housing is also a major challenge that the East End has yet to fully solve. The operators who succeed here understand those realities and build them into their strategy from the beginning.
Looking ahead, what changes do you expect to see in the East End commercial real estate market over the next five years?
EB: We expect the East End to continue moving toward a stronger year-round economy, and that will create new opportunities for commercial real estate. We also expect to see more adaptive reuse and thoughtful repositioning of existing properties rather than simply building something new. As land becomes increasingly scarce and valuable, the question of how we use the commercial properties we already have will become even more important.
Are there particular communities, business categories, or property types that you believe have especially strong potential going forward?
SN: We are very interested in properties and businesses that support the year-round economy. That includes service-oriented commercial space, retail, hospitality, mixed-use properties, and redevelopment opportunities. We are also watching areas beyond the traditional village centers, where changing demographics and business needs may create opportunities that haven’t historically received the same attention.
Ultimately, what do you hope this new team becomes known for?
EB: We want to be known as advisors and long-term partners, not simply brokers brought in when someone is ready to transact. The most interesting commercial projects often begin well before a property is listed or a lease is signed. We want clients to call us when they are asking, “What could we do here?” or “What should our next move be?” From there, we can help bring together the market knowledge, relationships, and strategic resources needed to move an idea forward. Ultimately, we want Bistrian Commercial Advisory to be known for understanding both the business behind an asset and the community around it.
Elizabeth Bistrian
Susie Noddle
