Montauk’s Oceanside Beach Resort just sold for $10M

The resort at (Credit: Tripadvisor)
The resort at (Credit: Tripadvisor)

The sunny little motel at 626 Montauk Highway is in for a transformation. Developer and restaurateur Jon Krasner acquired the 30-room property for $10 million last week in an off-market deal, the East Hampton Star reported. Jack Botero of BlackBrick brokered the transaction. Krasner told the East Hampton Star that the resort will be renovated during the winter and will reopen in spring. Krasner is the owner of two restaurants in town, the Saltbox and the Shagwong Tavern. Under seller Ken Walles, room rates started at $85 per night in the off-season and rose as high as $475 in peak season. [EHS]

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