East Hampton Point is a property that’s been on and off the market for, well, as long as we can remember, at all different prices. $55 million in 2006, $29 million in 2015, and most recently down to $27 million. What do you get for all that? Five acres of harborfront land with a waterfront restaurant, accommodation including 13 individual cottages and seven suites in the main house, and a full-service marina and boatyard with 58 slips. There’s also a ship’s store, pool, and tennis. It would be impossible to replicate the restaurant and marina on Three Mile Harbor today, with current waterfront zoning laws.
According to our sources, the place has just been sold, and, we assume, sold privately, without using an agent. What we don’t know is how much was paid and who is the buyer. We’re guessing a company will come in and do a spanky renovation, much like what was done with Gurney’s and Montauk Yacht Club (but we’ve been told they’re not the buyer).
Edited to add: Heath Freeman of Alden Global Capital is the buyer, we hear.
Know anything? Email us! Anonymity guaranteed. We’ll keep you posted as this story develops.
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