The Real Deal New York

Southhampton’s 40-year-old Lobster Inn sells to make way for condos

January 27, 2012 04:00PM

Beloved Southhampton mainstay the Lobster Inn and the 10 acres surrounding it have been sold for slightly more than $2 million, the Southhampton Press reported.

The new owners of the land, two LLCs, plan to build condominiums, seller Skip Tollefsen told the paper. While the new owners firm up their plans they could lease out the popular restaurant for the next tourist season or the next couple tourist seasons.

The restaurant is at 162 Inlet Road, in Southhampton.

Tollefsen said he will receive a larger payment once permits for the planned condos have been issued. The restaurant opened in 1969. “I used to go to work every day, work at night too, have fun and make money. Now it seemed like I was there all day, had no fun and made no money. But I had a good run,” Tollefsen said. [Southhampton Press]