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Four Years Later, Shagwong Still Searching for Owner No. 5

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Yes, the Shagwong (built in 1927) is a Montauk icon. But in the four years it's been on the market, no one's wanted to take the place on. In that time the price has halved, from $6.5M back in spring 2011 down to $2.995M now. The restaurant and tavern has been operating close to its present form since 1969; the Carl Fisher building has only had four owners.

So what do you get for your three million? A 112 seat restaurant and bar right on Main Street (with two entrances), a separate dining room, a tavern, commercial kitchen, office, and full basement. The second floor offers a four-bedroom, two bath apartment with cathedral ceiling living area, fireplace, two ocean viewing decks, kitchen and attic storage. Will 2015 see a new owner?
· Montauk commercial opportunity [NS]
· All posts about the Shagwong [CH]