In a prime location, the Lobster Inn has been a Southampton landmark since 1969. The restaurant plus surrounding land was sold in 2012 but is now back on the market asking $11.5 million. Represented by David Donohue and Joe Peraino of Douglas Elliman, the waterfront property offers many options for a new owner: as a restaurant or developed as single family homes or townhouses. The zoning on the property would allow for 13 single-family homes and there is a variance in place for townhouses with the abandonment of restaurant use, though site plans or individual lots are not yet approved.
“A buyer can bring his own imagination and amend or re-address what is approved by the town,” says David Donohue. We’ll be interested to see what happens.
For more, see here. 1 Inlet Road, Southampton