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A unique piece of harborfront land in Montauk, which hit the market last summer for $25 million, has been reduced from its original asking price to $19.95 million.
The property is nearly 7 acres and made up of two residential parcels and two that are zoned for commercial use. Owned by the Entenmann family of pastry fame, it’s located on East Lake Drive, which has seen a rise in popularity in recent years. Its neighbors include the Inlet Seafood Restaurant, the Montauk Airport, Gin Beach and Montauk County Park. It’s also across the harbor from the Montauk Coast Guard Station.
The family is known for their sweet baked goods that tempt passersby in supermarkets, but they also ran a tuna packing business from this site for nearly 20 years, Corcoran broker Gary DePersia told The Press last year. The Entenmanns once shipped tuna all the way to Japan, but the business was closed around 2006. Since then, they have been using the property recreationally.
The compound includes an old lookout tower, a cottage, and a newer two-bedroom cottage with central air, central vacuum, and private beach access, among other amenities. There’s also a packing house, commercial docks and a barn-like boat house that sits at the end of a 150-foot-long dock. There are about 15 slips, and, “it’s deep water, so you could get a 150-foot boat on the outside of the building,” said Saunders broker Lee Minetree, who is now listing the property. Boating enthusiasts looking for an exclusive getaway may find this waterfront acreage particularly enticing, as its best new use could be a “private yacht club or private marina,” he said.
on Apr 10, 2015