Beach Hospitality Acquires Multifamily Property In Westhampton Beach For $2M

The Grassmere Inn at 7 Beach Lane, Westhampton Beach, NY has been sold for $2,000,000. The multifamily property, situated on 1 acre of land, offers a total of 7,000 square feet of space. The sale price translates to a price per square foot of $285. The transaction included the transfer of keys for 17 units, resulting in a price per key of $117,647.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $2,000,000
• Address: 7 Beach Lane, Westhampton Beach, NY
• Market: Westhampton Beach

Beach Hospitality was the buyer of the Grassmere Inn, while Peter Kaplan acted as the seller. The transaction was facilitated by Corey Gluckstal from FivePointRealEstate, serving as the broker representing the parties involved in the deal.

NOTE: The Grassmere Inn at 7 Beach Lane, Westhampton Beach, NY is...