This waterfront getaway just became the most expensive purchase in Hamptons history.
Documents freshly made public reveal that an international marina company paid a record-breaking amount of $149.4 million for the Montauk Yacht Club.
The hotel, beyond its sky-high purchase price, is known for its posh accommodations and Block Island Sound views.
The 107-room resort was bought by Safe Harbor Marinas — owner of the biggest boating network in the world — from the former owner, Gurney’s, the outlet Behind the Hedges first reported.
The record sale took place last year, but the price tag was previously unknown and only just came to light after related Suffolk County deed transfers became available this week.
Previously, the title of largest Hamptons sale was held by the Marram Montauk, an oceanfront hotel which was bought for $77.5 million in 2022.
The Yacht Club’s final sale price represents a 157% increase from what the club commanded when it last sold, in 2018, for $56.7 million to Gurney’s, according to the publication 27East.
Before that, in 2007, it went for $34 million.
During its ownership, Gurney’s put $13 million into the eight-lot compound and changed its name to Gurney’s Star Island Resort & Marina.
Following the sale last year, Safe Harbor Marinas changed the name back to Montauk Yacht Club.
The 95-year-old lodgings have been offering locals respite on their portion of Star Island since 1928, when Montauk developer Carl Fisher built the business.
Before it was a public inn it was a private club, with members of the Vanderbilt, Astor and Whitney families included in its roster of original members, Behind the Hedges noted of its history.
Amenities available to guests include three pools, two restaurants, a private beach, tennis and pickleball courts, and over 200 boat slips.
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source https://1steconomic.com/montauk-yacht-club-sells-for-a-hamptons-record-of-149-4m/
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