Three bankrupt Hamptons hotels on sale

Jul.July 28, 2010 08:30 AM

The Capri hotel

Three high-profile Southampton hotels are officially back on the market
and are seeking bids prior to A Scheduled Bankruptcy Court sale in
September, Massey Knakal Realty Services announced. The firm said it
would consider offers for the three properties, the Atlantic, the
Bentley and the Capri — the former home of popular nightclub the Pink
Elephant — both individually and as a portfolio. The hotels first went on the market in 2008,
but Hamptons Resorts & Hotels, which operates the properties, filed
for bankruptcy protection last month. At the time, the Post reported
that Giuseppi Tuosto of restaurant group Via Dei Mille had signed a
contract to buy the Capri for an undisclosed sum. Tuosto hoped to turn
the Capri into a restaurant beach club and to ultimately buy all three
hotels, he said. They contain a total of 132 guest rooms — or around
43 percent of Southampton’s hotel market and occupy nearly 10 acres
along primary Hamptons access road Route 27. TRD


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