The Real Deal New York

Gurney’s spent $56.7M on the Montauk Yacht Club acquisition

June 26, 2018 04:50PM

Gurney’s forked over nearly $56.7 million to buy the Montauk Yacht Club and effectively cobble together one of the largest marinas on the East End, new records show. The three properties that comprise the Montauk Yacht Club were bought separately: 32 Star Island Road for $46.8 million, 88 South Elmwood Avenue for $6.95 million, and 379 West Lake Drive for $2.95 million, according to a report by 27East. Gurney’s owners, George Filopoulos of Metrovest Equities and Lloyd Goldman of BLDG Management, plan to undertake a $13 million upgrade of the new acquisitions, which will begin after the summer season. [27East]