The Capri Hotel in Southampton, which is not only a spot summer guests flock to, but also a hotspot for events throughout the summer, officially went up for sale on Tuesday. The asking price: A whopping $29 million.
The 29-room hotel and restaurant at 281 County Road 39A is also available for a long-term lease with the Cerio Natter Team at Brown Harris Stevens holding both listings.
“This is the last resort property in the Hamptons for sale,” says Anthony Cerio. “Impossible to duplicate at any cost.”
Just minutes from Southampton Village, the Capri has been home to notable nightlife spots, such as the Pink Elephant, Nobu and BLT. For the last four years, NAIA Hamptons has operated a restaurant, an outside bar and a lively pool area, now known as The Bathing Club, where renowned DJs perform at weekend pool parties.
Howard Stern, J. Lo, Amy Poehler and even Nancy Pelosi are just some of the well-known past guests. The Capri has also hosted Saturday morning roundtables attended by Governor Kathy Hochul, New York City Mayor Eric Adams and state Attorney General Letitia James. The hotel has been featured on many television shows, including Summer House, Real Housewives of New York City and Real Housewives of Beverly Hills.
Attorneys Mark Geragos and Tina Glandian, principals of Geragos Global, purchased the Capri in 2015 for $4.7 million, records show. Geragos Global’s hospitality portfolio includes a 143-key resort at the foothills of the San Jacinto mountains in California known as the V Palm Springs, a boutique beachfront hotel in San Clemente, California known as Casa Tropicana, and a 1,000-acre historic lakefront property in the Catskills, made famous by The Marvelous Mrs. Maisel, where the second season was filmed.
The group has invested significant capital into renovating the property over the last nine years, says Brown Harris Stevens.
The current owners “have spared no expense,” Cerio says, adding that it is “turnkey for the new owner.”
Of the 29 guest rooms at the Capri, 26 are considered standard club rooms that surround the pool, while three are exclusive suites, tucked away in a quiet corner of the 2.3-acre property.
“Every room has a beach chic vibe, making the perfect summer getaway,” the description says.
On weekends in July and August, rates begin at $999 per night for a standard room and $1,999 per night for a suite.
The restaurant holds 80 seats and 35 seats outside, plus an indoor and outdoor bar.
This is the second time Brown Harris Stevens has marketed the property.
“We were fortunate enough to market the Capri Hotel in the summer of 2014,” Cerio says. “Quickly we struck a deal with Mark Geragos and Tina Glandian. They closed in early 2015 and throughout the whole deal from meeting on the property to closing they were a pleasure to deal with. From our first showing, they saw the potential in the property to transform it into the hot spot it is now. Today, we are excited to embark on the next chapter for the Capri and are very pleased to be working once again with Mark and Tina.”
The Cerio Natter Team, comprised of Cerio, Mitch Natter and Jared Schiavoni, is the top commercial real estate team at Brown Harris Stevens in the Hamptons and most recently negotiated the sale of the iconic Maidstone Hotel in East Hampton Village.
Hamptons Resorts at a Premium
Resorts in the Hamptons are being scooped up quickly in recent years — and for more than ever.
The Montauk Yacht Club, which this summer is back to its traditional name, was sold by Gurney’s to an international marina company last year for a total of $149,400,000. The previously biggest known commercial sale was the $77.5 million sale of Marram Montauk, a 96-room boutique hotel on the ocean, also in 2022.
The Atlantic in Southampton, a four-acre property with 62 rooms and a large heated pool, sold in April of 2022 for $13.55 million. The Cerio Natter Team brokered both sides of the deal.
The Sands Motel in downtown Montauk, which boasts 360-degree water views of the Atlantic Ocean and Fort Pond, hit the market earlier this summer for $28 million. Hal Zwick and Jeff Sztorc, at Compass Commercial in the Hamptons, have that exclusive.