Stony Brook SBDC Client to Receive 2024 NYSBDC Family-Owned Business Entrepreneur of the Year Award

The Stony Brook Small Business Development Center (SBDC), a member of Stony Brook University's Economic Development organization, has announced that the 2024 New York SBDC Family-owned Business Entrepreneur of the Year award will be presented to Damark's Market on Tuesday, August 20, at 2 pm.

The award ceremony will take place at the business site of Damark's Market, located at 331 County Road 40 in East Hampton, NY. Sonya Smith, New York SBDC statewide directo, will present the award to business owners Bruce and Michiko Damark.

This event will celebrate the remarkable achievements of Damark's Market, a third-generation family-owned business that is a cornerstone of the East Hampton community.

Originally established as Damark's Deli in 1949 by Joe and Mary Damark in the hamlet of Springs in East Hampton, Damark's Market has been a beloved destination for more than 70 years. Third-generation owners Bruce and Michiko Damark embarked on an ambitious project in October 2017 to demolish the original store and construct a larger, more contemporary building in its place. The "new and improved" Damark's Market reopened in December 2018, featuring a modern Greek Revival exterior and a light-filled, open market space that invites customers to browse, shop, and dine.

The journey to modernize Damark's Market was not without its challenges. The construction process faced delays due to faulty work by a contractor, resulting in a water leakage in the basement.

Referred by New York State Assembly Representative Fred Thiele Jr., the Damarks met with Stony Brook SBDC Business Advisor Willa Smith in March 2023. She worked closely with the Damarks over several months, navigating the complexities of securing a new first mortgage lender and discussing the loan process. Through Smith's guidance, the Damarks were able to expedite progress and address outstanding issues, eventually securing financing through the SBA 504 Loan program.

The Stony Brook SBDC and Stony Brook Economic Development invite and encourage community members, local businesses, and media representatives to join in the celebration of this significant accomplishment on August 20 at Damark's Market.