Black Diamond Capital Management Acquires Mixed-Use Portfolio In Montauk For $34.35M

500 West Lake Drive in Montauk, NY, is a mixed-use asset that recently sold for $34,350,000. The property spans approximately 48,145 square feet and has been priced at $713 per square foot. The asset encompasses a mixed-use portfolio consisting of nine properties over an area of 11.6 acres.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $34,350,000
• Buyer: Black Diamond Capital Management
• Seller: Dick Gosman
• Broker: Jeffrey Karp & Chris Bellino - Latitude Property Group
• Square Footage: 48,145
• Price per Square Foot: $713

Black Diamond Capital Management, the buyer, is a private equity firm that plans to develop a new food and beverage concept through their collaboration with the Bagatelle Group. Latitude Property Group has previously assisted Bagatelle in securing a restaurant location in the Meatpacking District of New York City.