The Real Deal New York

Hamptons Cheat Sheet: Gurney’s buys out timeshare owners to take full control of Montauk hotspot … & more

By Aidan Gardiner | April 10, 2018 11:30AM

Clockwise from top left: Jennifer Esposito is locked in a legal feud with her renovation contractor, Rachel Ray relists her home with nearly $300K off ask, Gurney’s buys out timeshare owners to gain control of inn and Southampton Village officials will review ethics complaints in Victorian expansion project.

Gurney’s buys out timeshare owners to take full control of Montauk hotspot
George Filopoulos, owner of Manhattan-based Metrovest Equities, approved a plan to buy out the timeshare owners of Gurney’s Montauk Resort and Seawater Spa to take full control of the inn. Filopoulos, with his company 290 Old Montauk Highway Associates, bought the oceanfront resort in 2013. CBRE appraised the property at $84 million and Filopoulos’ company used that number to calculate the amount each shareholder will get paid out — $11,881 per 100 shares, which The East Hampton Star reported is equivalent to about a week’s stay at the property. Many were happy with the way things shook out, but an Arizona-based timeshare owner is pushing forward with a lawsuit claiming the $84 million valuation is too low. [East Hampton Star]

Actress Jennifer Esposito owes $65K for East Hampton renovation, contractor says
A contractor is taking actress Jennifer Esposito to court, saying she never paid $65,000 for the renovation of her East Hampton home, the New York Post reported. The actress, however, claims the contractor Randall Soto of Soto Construction damaged the wooden floors of her vacation home. The NCIS and Blue Bloods star posted a video of the damage to her social media, saying the home is now uninhabitable because of mold. The contractor has initiated a legal dispute over the money he feels he’s owed. [TRD]

Rachel Ray relists Southampton home with nearly $300K chopped off ask
The celebrity chef Rachel Ray put her Southampton home back on the market at $4.69 million, a couple hundred thousand dollars short of what she’d originally listed it for at $4.9 back in August, the New York Post reported. The 3,000-square-foot home has three bedrooms, five bathrooms, two fireplaces and a chef’s kitchen. Buyers can also buy the furnishings, if they choose. The listing is being handled by Angela Boyer-Stump, of Sotheby’s International Realty.  [New York Post]

Southampton Village officials to review ethics complaint in 125-year-old Victorian expansion plan
Southampton Village officials will examine complaints about whether the town’s historical consultant overstepped his bounds in advising another consultant hired by the owner of the Mocomanto. The owner of 472 First Neck Lane, Ken Fox, wants to add one two-story extension and another one-story extension to the 125-year-old Victorian, nearly doubling its size, but has to go through the town’s architectural review board first. Neighbors have opposed the project and forwarded the board emails between Fox’s consultant and the one hired by the town, which they say show impropriety. The board is expected to decide the project’s fate at an April 23 meeting. [27East]

‘Ugly subdivision’ proposal faces opposition from neighboring East Hampton officials
East Hampton officials had harsh words for a subdivision plan on a 41.3-acre plot in Sagaponack: “ugly” and “a bad move.” Sagaponack has to show the plans to their neighbors because it’s so close to the border between them. The plan would transform the now-farmland into nine house lots with a 26-acre agricultural preserve. The lots would have as many as 56,597 square feet for housing and a 50-by-1,000-foot roadway. East Hampton officials are urging their neighbors to either ” to use community preservation fund money to conserve the farmland” or drastically reduce the plan. [East Hampton Star]