The Atlantic in Southampton sold last week for $13.55 million with the Cerio Natter Team of Brown Harris Stevens, who had both sides of the deal.
“This was our second time selling the property, so we had a wonderful relationship with the seller and knew the property intimately,” Anthony Cerio said of the deal, which closed on April 12.
“Both the seller and the new buyer were a pleasure to work with. The Atlantic Hotel is an unbelievable property where the sky is the limit with the potential. It is going to be very interesting to watch the buyer execute the big plans he has for the property to make it a real ‘go to’ destination in the Hamptons,” he said.
According to records, Hampton Resorts, LLC purchased the property in November of 2015 for $5.7 million.
The four-acre property sits on a sprawling 4.09-acre lot at 1655 County Road 39, a short drive from bay and ocean beaches, Southampton Village’s shopping and restaurants, as well as top-notch golf courses.
The property includes 62 hotel rooms, a dining area, a large heated pool, an outdoor lounge area and two tennis courts. There are plenty of parking spaces.
The last asking price was $16.995 million.
Originally built in the 1950s, the hotel used to be known as the Sandpiper.
At one point, the Atlantic, the Bentley and the Capri hotels were all owned by the Hamptons Resorts and Hospitality with David Waksman the majority stakeholder.
The Bentley, located at 161 Hills Station Road, in Shinnecock Hills sold in September of 2021 for $6.1 million, one of the top commercial sales of the year. The 2.6-acre property offers 40 one-bedroom units across two buildings, along with a pool, just off Sunrise Highway, which had been asking $8 million. Lee V. Minetree of Saunders & Associates represented the seller, Southampton Hospitality LLC, and the buyer, listed only as Southampton Hotel Realty LLC.
The Capri, located at 281 County Road 39a in Southampton, last sold in January 2015 for $4.7 million.