As speculated earlier this summer, former Sag Harbor resident Ted Conklin will in fact list the notable American Hotel "for no less than $25 million." In addition to the circa 1846 hotel, which boasts a respected restaurant and an endless wine cellar, Conklin is also looking to sell two other Sag Harbor properties—including the Rysam Sleight House—for a total of $10 million. So why is Conklin giving up on Sag Harbor? To be closer to new wife Carol Simmons, who's got places in East Hampton and Palm Beach. And as the Post explains, "it's no secret" that his wife "prefers East Hampton to Sag Harbor." That can't be good for business!
· Historic hotel due for sale [Post]
· All American Hotel coverage [Curbed Hamptons]