Sales price revealed for iconic Hampton Bays bar
Gregg and Mitchell Rechler, the cousins behind Plainview-based developer Rechler Equity Partners, told the Southampton Town Planning Board they expect to finish their restoration of the Canoe Place Inn in Hampton Bays by 2020, 27east reported. The Rechlers, who have been called Long Island’s “first family of real estate,” had originally planned to raze the entire 5.8-acre site of a former nightclub complex as part of a $110 million redevelopment project that will bring luxury living to downmarket Hampton Bays. The Rechlers are now moving forward with a three-stage plan to build a 25-room inn, while also restoring a 1,900-square-foot clubhouse and a 300-seat catering hall, giving rise to a high-end residential development called the Hampton Boathouses. During the first phase, the developers will restore the inn’s dance hall, build a framework for three of its expected 37 townhouses and reconstruct a structure connecting the inn to its ballroom. The Rechlers demolished the latter in 2016 in the hopes of building more townhouses, but promised to rebuild it after facing community backlash. Come June, the developers will start fixing the interiors of the Canoe Place Inn, along with its foundation and framework. That work should be completed within a year, 27east reported. In September, workers will start building the last Hampton Boathouse building, a process expected to take 11 months. [27east]
