The Real Deal New York

Hamptons Cheat Sheet: Gurney’s Resorts owners buy Montauk Yacht Club, plotting a $13M upgrade … & more

May 08, 2018 11:20AM

Clockwise from top left: Water Mill home slashes price down to $22.5 million, Marilyn Monroe’s East Hampton cottage on the market for summer renters, Gurney’s Resorts buys Montauk Yacht Club ahead of $13M upgrade and plans for Billy Joel’s Sag Harbor home strike a chord with town board.

Gurney’s Resorts owners buy Montauk Yacht Club ahead of $13M upgrade
George Filopoulos of Metrovest Equities and Lloyd Goldman of BLDG Management, owners of Gurney’s Montauk Resort & Seawater Spa bought the Montauk Yacht Club for an undisclosed price. The largest marina in the Hamptons is set to close this winter to undergo a $13 million upgrade. The Gurney’s team will lead the transition. MEI Hospitality will run and promote the yacht club, as its done for the other Gurney’s properties. [27East]

Marilyn Monroe’s East Hampton cottage on the market for summer renters
The summer getaway of Marilyn Monroe and her playwright husband Arthur Miller hit the market, available for a year-long lease for $68,000, according to The New York Post. The secluded home was converted from a 19th-century mill. The couple stayed there to get away from paparazzi who descended on their rental in Stony Hill Farm. Three brokers were handling the listing: Douglas Elliman’s Bobby Rosenbaum, Corcoran Group’s Vicky Thompson and Nest Seekers International’s Alex Piccirillo. [TRD]

93-year-old Water Mill estate’s price reduced to $22.5M
A 7,000-square-foot waterfront home is back in the market now with a $3 million price cut, bringing it down to $22.5 million. The home, built in 1925, has eight bedrooms, six and a half bathrooms and the 5.27-acre property features a pool, a three-car garage and a dock on its 300 feet of waterfront. Sotheby’s International Realty’s Harald and Bruce Grant are handling the listing. [Curbed]

Consultants plot changes to East Hampton’s commercial districts in order to combat rising sea levels
The East Hampton Town Board is weighing plans to adapt the five-hamlet town to rising seal levels. In Montauk, they hope to preserve the downtown, but move some shoreline businesses to other areas. Consultants also proposed redesigning Wainscott to give its commercial district a more consistent look. They cited the downtown’s present mishmash of commercial spaces that have parking in front and those that have parking in the back as something that could be streamlined. The board will also decide when to present the plans to the public for further comment. [East Hampton Star]

Plans for Billy Joel’s Sag Harbor home strike a chord with town board
The piano man wants to join his two homes that sit across the street from each other. Billy Joel’s initial proposals included lifting and rotating one of the homes, but that was nixed by the Sag Harbor Village Board of Historic Preservation and Architectural Review. Now, Joel hopes to build a two-story addition to connect the two, but plans to place it back farther from the street, which the board took a shine to. Early discussions seemed positive and the entertainer still hopes to formally submit plans by June. [27East]