Hildreth Real Estate Advisors Acquires Mixed-Use Property In Montauk For $14M

Hildreth Real Estate Advisors (HREA) has announced its latest acquisition in Montauk, marking their 14th successful acquisition in the Hamptons. The property, located at 352 West Lake Drive, is a mixed-use asset comprising a 104-boat slip marina, a waterfront restaurant with seating for up to 100 people, two apartments, a house, and an office. With a total square footage of 6,650, the property was sold for $14,000,000, resulting in a price per square foot of $2,105.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $14,000,000
• Address: 352 West Lake Drive
• Market: Montauk

The deal was completed with Hildreth Real Estate Advisors (HREA) as the buyer, represented by David Shorenstein, Jason Breitstone, Yair Sarraf, and Michael Sztorc. The seller, Chris Miller, facilitated the transaction.

HREA expressed their excitement for this acquisition, as it marks their first ever Marina investment. They plan to continue the operations of the property with the same level of commitment and excellence it has maintained under the previous family's ownership for the past six decades. In their note, HREA encourages anyone with Hamptons deals to reach out to [email protected].