As we expected back in July, BLDG Management, run by Lloyd Goldman, and Metrovest, the owners of Gurney's Resort since 2013, have purchased the Panoramic View next door, according to the New York Post. This adds another thousand feet of beachfront and another 9.4 acres to their holdings. The Panoramic View was seized by the federal government after its owners were convicted of running a Ponzi scheme and bids were accepted over the summer.
Panoramic Partners LLC (an affiliate of BLDG) stated, "The Panoramic is a one-of-a-kind oceanfront destination. We look forward to unveiling a lifestyle ownership opportunity in 2016." Anyone out there know how much they paid? We figured $60M was the low end.
One issue that must be addressed is parking. The old 1950s resorts don't offer anything near the amount of parking needed today, just for guests, never mind staff. We'll be interested in seeing what solutions the owners come up with; this summer it was a nightmare on weekends (not to mention dangerous) to drive past Gurney's.
· All posts about the Panoramic View [CH]
· Gurney's Resort adds 1,000 feet of neighbor's beach [NYP]
· All posts about Lloyd Goldman [TRD]