clock menu more-arrow no yes mobile

Filed under:

If You Can Spare $52.5M, Why Not Buy Gosman's in Montauk?

Want to build a resort?

Always had ambitions to be new Carl Fisher, but hopefully without the bankruptcy and alcoholism? (In 1925, Carl Fisher bought 10,000 acres of Montauk for $2.5M, about $315M in today's dollars. His dream was to develop Montauk into the Miami Beach of the north. Then the stock market crashed in 1929 and he became penniless.)

The Gosman family have put their 14-acre business and real estate portfolio on the market for $52.5M, down from the $55M asked in 2006. It all started as a chowder stand 70 years ago, and the Gosmans added to their property empire over the years back when land was cheap.

So what do you get for your $52.5M? "Available now are favorably zoned waterfront, resort and central business properties which, although profitable in their current state, are primed for a complete redevelopment." There's 46,000 square feet of restaurants, shops and a fish business. Four restaurants in total with 744 seats and 57 motel units. Julia Prince, who's marketing the portfolio for Saunders, says, "It’s really a development for a boutique-sized, high-end or moderate resort campus." Got the money and the vision? Get started.

Gosman's Dock

500 W Lake Dr, Montauk, NY 11954 (631) 668-3174 Visit Website