The Real Deal New York

Hamptons Cheat Sheet: Price for Montauk’s Ocean Surf Resort drops to $22M … & more

By Aidan Gardiner | May 22, 2018 03:35PM

Clockwise from top left: Georgica Pond waterfront compound sells for $8M lower than ask, price for Montauk’s Ocean Surf Resort drops to $22M, Southampton wants to buy Lobster Grille Inn site listed for $9.9M and empty East Hampton plots once owned by David Geffen sell for combined $24M.

Price for Montauk’s Ocean Surf Resort drops to $22M
After six months on the market, $3 million has been shaved off the ask for Montauk’s Ocean Surf Resort, making the asking price $22 million. The 9,400-square-foot hotel has 26 guest rooms, 160 feet of ocean frontage and a pool. Jose Dos Santos of Brown Harris Stevens is handling the listing, which teases that the building could be expanded or converted to co-op units. [Curbed]

Empty East Hampton plots once owned by David Geffen sell for combined $24M
Two parcels of land that media mogul David Geffen once owned sold for $17.2 million and $6.8 million respectively, 27East first reported. The plots 20 and 24 West End Road were once part of the estate of Courtney Ross, widow to ex-Time Warner CEO Steve Ross. Geffen bought the land, which included a third parcel, in 2014, but then sold all three two years later for $67.3 million in order to buy a Lily Pond estate for $70 million. Most recently, 20 and 24 West End Road sold to LLCs named after their addresses. Bespoke Real Estate handled the most recent listings and sales of the parcels. [27East]

Rechler Equity Partners in talks with Westhampton officials to build a community center
Westhampton officials are in preliminary talks with Rechler Equity Partners to build a community center in the Hampton Business District, an area near Francis S. Gabreski Airport that the Plainview-based firm is already building and operating. Town officials initially floated the idea of a day care, but are now pushing for an up to 5,000-square-foot space for seniors and others to meet. When the idea first cropped up 15 years ago, town officials thought a new center would cost about $8.5 million, but now believe Rechler could save them as much as $3.5 million on the project. [27East]

Georgica Pond waterfront compound sells for $8M lower than ask
After two years on the market, a compound in East Hampton’s Georgica Pond area sold for $16.75 million — a little more than $8 million lower than its original ask. A buyer came forward last November, but the deal only closed at the end of April. The 2.9-acre compound has two homes, which combined offer five bedrooms and four bathrooms. One of the addresses also already has a permit to build a 3,500-square-foot home with a waterside pool. Corcoran Group’s Michael Shultz and Susan Ryan handled the listing. [Curbed]

Southampton wants to buy and convert $9.9M Lobster Grille Inn site 
The Southampton Town Board has proposed buying the former Lobster Grille Inn site and converting it into a public marina, shellfish hatchery, preserved space and possibly a private restaurant. The 10-acre property is owned by Peconic Bay Marina LLC and Peconic Bay Residence LLC. David Donohue of Douglas Elliman Real Estate is handling the listing. The public will have a chance to comment on the idea on June 22 ahead of final board approval. [27East]