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Gurney’s Close to Deal to Purchase Montauk Yacht Club

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Gurney’s Montauk Resort and Seawater Spa is working on a deal to majorly expand its property again. As reported by the NY Post, the owners of the well-known seaside resort, George Filopoulos and Lloyd Goldman, are in talks to buy the nearby Montauk Yacht Club Resort & Marina. “The deal isn’t finalized, but they are close,” one source told the Post. “The staff has already been told that there will be a change this summer,” the source added. Neither Gurney’s nor the Yacht club’s current owner, developer Andrew Farkas’ Island Global Yacht, have confirmed the deal yet.

The lovely view from Gurney’s Montauk Club Resort & Marina (Photo: booking.com

Currently, Gurney’s on Lake Montauk has an 11- acre property, which boasts North America’s only ocean-fed seawater pool, and has an assemblage of 26 co-ops. The property was purchased by Filopoulos, a New Jersey developer, and Goldman head of BLDG Management, in 2013 for $35 million. In 2016, the owner expanded purchasing the neighboring land, The Panoramic View, for $64 million from a government auction. The former owners were charged in a Ponzi scheme that the Attorney General called “one of the largest investment frauds in Long Island history.” For Gurney’s the purchase greatly enhanced the then low-key business’s allure as a popular St. Tropez-type resort on the East End, with top restaurant, Scarpetta, as well as bottle service on the beach. The owners have invested roughly $20 million on renovations as yet, over the years. The four-star, year-round resort features direct access to a 2,000-foot private sand beach; 146 rooms, suites, and cottages; and 25,000 square feet of meeting and banquet space.

The addition of the Montauk Yacht Club would be a significant purchase. The club sits on 55 acres about 6 miles to the east of Gurney’s. The property includes 232 slips, six docks, 107 hotel rooms and two restaurants. The deal would consolidate the once competing destinations, creating a sprawling waterfront oasis in the Hamptons area.

By Hellen Zaboulani

 

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