The final sales price for the Sands Motel in downtown Montauk, which Behind The Hedges reported in March had been sold, has been revealed.
After hitting the market last summer for $28 million, the four-parcel property with views of the Atlantic Ocean and Fort Pond, sold for just slightly more than $23.5 million, according to deed transfers made available this week.
A prominent hospitality group, Enduring Hospitality, was identified as the buyer. Listing agents Hal Zwick and Jeff Sztorc at Compass Commercial in the Hamptons represented both sides in the deal.
“We are excited to join the Montauk community with our acquisition of The Sands,” the hospitality group offered in a statement. “Our goal is to refurbish the existing hotel, centering on health and wellness, while safeguarding the authenticity of Montauk and its connection to surf culture.”
With more than 250 feet of frontage on Montauk Highway, the property offers 360-degree water views of the ocean and pond and is located across the street from the ocean beach. There are 43 keys across four buildings, all close to Montauk’s downtown. There is also a pool facing Fort Pond.
The accommodations include a 19,000-square-foot hotel complex with three guest room buildings (one and two stories) with 43 keys. There is also one small building being used as a rental.
The motel rooms offer a mix of one- and two-bedroom units, each with one bathroom. Fourteen of those units also feature small to medium-sized kitchens. They range from 150 to 360 square feet in size.
The Sands Motel complex, long under family ownership, comprises four contiguous parcels, totaling 1.16 acres, each trading separately for a total of $23,500,900 on March 22, 2024.
The 0.472-acre property at 71 South Emerson Avenue sold for $12,978,627. The 0.185-acre parcel at 79 South Emerson Avenue traded at $6,392,000, while 3 South Emery Street, which is 0.32-acre, sold for $2.658,273. Lastly, 666 Montauk Highway, a 0.142-acre property, traded for $1.472 million.
Richard J. Hausman, who owned and ran the motel that his parents first built in 1951, died in early 2022 at 97, according to an obituary in The East Hampton Star.
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