Montauk restaurant hits the market

By Yaffi Spodek | July 07, 2010 02:00PM

Salivars Restaurant, by the Montauk fishing dock, is being marketed by Stacey Barnds of Town & Country Real Estate

Salivars
Restaurant and Bar, one of Montauk’s unofficial community landmarks,
hit the market today with a $7 million asking price, said Stacey
Barnds, who is marketing the property for Town & Country Real
Estate.

The property is also available for lease. “The lease price is open for
negotiations based on the potential tenant’s proposal for improvements
plus use,” Barnds said.

Salivars,
located at 470 West Lake Drive, is a family-owned restaurant that has
been a hub for locals and tourists for the last 54 years. When original
owner Peter Chimpoukchis died four years ago, his son-in-law, Ted
Tavoularis, took over the restaurant, but felt that now was the time to
give it up, Barnds said.

The property features a 3,649-square-foot, 53-seat indoor
restaurant, in addition to an 85-seat patio restaurant overlooking the
water and on-site parking.

Though the restaurant is considered a mainstay for the local
Montauk community — it’s known as the only place in town where you can
get food 24 hours a day — the property is not a designated landmark,
ensuring that the next owners are free to use the space as they wish.

Sitting on a .83-acre site by the Montauk fishing docks, the
property also has six dock slips that can accommodate a boat up to 65
feet long.