Gurney’s Resorts buys Montauk Yacht Club


Money | Business & Investing / Sunday, May 13th, 2018


Gurney’s Resorts has expanded its footprint in the Hamptons, with the purchase on Wednesday of the Montauk Yacht Club Resort & Marina, making Gurney’s the biggest hotelier on the East End, with three properties in Montauk.

George Filopoulos of Metrovest Equities and Lloyd Goldman of BLDG Management, owners of Gurney’s Montauk Resort & Seawater Spa, would not comment on the price. However, sources close to the deal said it closed at around $60 million.

The Yacht Club, formerly owned by developer Andrew Farkas’ Island Global Yachting, will be renamed Gurney’s Montauk Yacht Club & Resort.

The property has the largest marina in the Hamptons, with megayacht capabilities, and sits on 35 acres of waterfront property, with three swimming pools and four restaurants.

The deal will add another 107 rooms to the Gurney’s portfolio, giving it 253 rooms in Montauk. Gurney’s has its flagship year-round Gurney’s Montauk Resort & Seawater Spa, as well as the neighboring former Panoramic View, now the Residences at Gurney’s, consisting of 20 oceanfront homes and six Point of View one-bedroom suites. Five are still for sale, and they start at $2.2 million.

The Yacht Club has hired LDV Hospitality, under the Gurney’s brand, to refresh the menu.

Gurney’s plans a $13 million revamp, starting in November, and will upgrade guestrooms, the ballroom and meeting rooms. The property will also have its own charter boats to Gurney’s in Montauk, and Gurney’s Newport Resort & Marina in Rhode Island.

Filopoulos told The Post the club had a $4 million refresh on the rooms in winter, before the buy.

Filopoulos plans to elevate the property with “high-quality design and service,” and the purchase will be enormously helpful for off-season group business, he said.



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