The Real Deal New York

Southampton buys Lobster Inn site for $8.45M

July 31, 2018 02:57PM

Two years after the site of Lobster Inn hit the market for $11.5 million, the town of Southampton laid down $8.45 million for the restaurant and marina. The town made the purchase through the Community Preservation Fund and Inlet Road Operations Corp, an affiliate of the Manna Ocean Foundation, Curbed reported. Town officials hope to preserve half the property as a public space and working marina, while allowing Inlet Road Operations Corp. to run an aquaculture farm and restaurant on the other half. David Donohue and Joe Peraino of Douglas Elliman handled the listing. [Curbed]