The Real Deal Tristate

This East End icon might finally be closing in on a sale

Gosman’s Dock in Montauk hit the market in 2016 asking $53M
July 31, 2019 11:00AM

Gosman’s Dock in Montauk

More than three years after a 14-acre slice of restaurant and retail space at the easternmost end of Long Island hit the market seeking $52.5 million, a sale could now be on the horizon.

An agreement appears close to being finalized that will transfer control of Gosman’s Dock in Montauk to Merkourious “Mike” Angeliades, owner of Long Island City-based construction firm M.A. Angeliades, 27east reported.

The tentative deal would include all of the Gosman family’s commercial properties in Montauk, including their namesake seafood restaurant and other buildings that ring the harbor side of the bustling summer resort hamlet, which is part of East Hampton.

The Gosman family has already sold two of its hotel properties to entities connected to Angeliades, according to 27east, and has signed a memorandum of lease agreement, which the outlet noted is a common placeholder for a pending transfer of real estate assets, with an Angeliades-related entity for the rest of its holdings.

Contacted at his residence in Florida by 27east, Richard Gosman, one of five Gosman family siblings that own properties in Montauk, declined to discuss the “very complicated situation” with Angeliades. Gosman, however, did confirm the sale of the two hotel properties.

“That’s as far as it’s gone so far,” he told 27east. “If the second half happens, it happens. But that’s as far as it’s gone so far.”

Representatives for Angeliades’ M.A. Angeliades also declined to discuss 27east’s requests for details about the transaction, although members of the Angeliades family did confirm to the outlet that a larger deal on the Montauk waterfront is in the works.

The Real Deal noted earlier this year the $3.47 million sale of Gosman’s Culloden House Motel and the $3.42 million sale of the Soundviewer Motel to limited liability companies. Harrington Property Associates and Roberta Gosman, who had managed Gosman’s Dock and was the eldest child of the founders of the eponymous restaurant, owned both hotel properties. (Roberta Gosman died last year at 85.)

Harrington is a real estate holding company for the Gosman family, according to 27east, which noted that a 1-acre lot adjacent to both Montauk properties was also sold earlier this year to an LLC. The total value of those three transactions was about $8 million, although 27east noted that four additional tiny waterfront parcels, some of which are underwater rock formations to guard against erosion, were also sold to LLCs for $100,000.

The LLCs that purchased those properties are all connected to a Long Island City address for the law firm Kordas & Marinis, which in February filed the memorandum to lease the other Gosman family-owned properties on behalf of Marbella Hospitality LLC, an entity that listed Angeliades as a principal, according to 27east.

Angeliades, who was born in Greece, pleaded guilty in 2010 to underpaying workers at several of his company’s projects in New York City. His firm, M.A. Angeliades, has been identified as one of the largest construction companies in the state.

As for Gosman’s Dock, a fulcrum of the East End’s large commercial fishing industry, 27east noted the Gosman family has owned the roughly 700-seat restaurant and its surrounding properties in the area since the 1950s. [27east] — Brian Baxter