Marley Dominguez Of Enduring Hospitality Group Acquires Hotel In Montauk For $23.25M
71 South Emerson Avenue
$23,250,000
$1,162/SF
Building Size
20,000 SF
Asset Type
Hotel
Closing
Mar 7, 2025
AI
The property involved in this transaction is a hotel located at 71 South Emerson Avenue in Montauk. The sale price for the asset was $23,250,000, with a total square footage of 20,000 and a price per square foot of $1,162.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $23,250,000
- Address: 71 South Emerson Avenue
- Market: Montauk
- Square Footage: 20,000
- Price per Square Foot: $1,162
- Buyer: Marley Dominguez - Enduring Hospitality Group
Marley Dominguez, representing Enduring Hospitality Group, is set to open Montauk's newest resort and spa, Offshore Montauk, after a full renovation, in time for Summer 2025.
Players
Montauk Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93