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Jul 25, 2018 4:50 PMPublication: The Southampton Press

Southampton Town Closes On Joint Purchase Of Lobster Inn Property

Lobster Inn Property
Aug 1, 2018 11:25 AM

Southampton Town officials closed on the purchase of the Lobster Grill Inn in Shinnecock Hills for $7.6 million last week, making the purchase using Community Preservation Fund revenues.

The sale was a joint purchase, with Inlet Road Operations Corporation spending an additional $850,000, to make the total purchase price $8.5 million.

Inlet Road Operations Corp. is affiliated with the Manna Ocean Foundation, which will operate a private aquaculture facility at the location.

Along with a focus on aquaculture, officials hope to use the property as a combination public marina and preserved space, which could provide opportunities for improving the water quality and providing recreation space for the public.

The total amount of land purchased was close to 10 acres; 5.2 acres will be preserved by the town as open space and as a public marina. The town’s Parks and Recreation Department will manage the marina.

The additional acreage that was obtained in the purchase, according to a press release issued by Douglas Elliman, “will be used for development rights to encourage an aquaculture farm with a small restaurant, operated by third-party aquaculture owner, Inlet Road Operations Corp.”

“It’s positive for the whole community,” David Donohue, who, along with Joe Peraino, brokered the sale, said in the press release. “Joe and I are very happy to have been involved in this transaction, which keeps part of the property available for public use and provides wonderful opportunity for local aquaculture.”

On Wednesday, July 25, Town Supervisor Jay Schneiderman said there were many positive aspects to the sale. For example, the town purchased the development rights for a portion of the property that could be used to create a fish farm. Technically, the property could be used for any other agricultural use, but, being close to the water, Mr. Schneiderman said, it made sense to open it to aquaculture.

He also said the property will offer a spot for people to go and have lunch on the water where the fish that is served in the private restaurant is caught locally by commercial fishermen. The marina will offer affordable boat slips to local boaters, as well as an access point for kayakers and paddleboarders to launch.

“If we hadn’t stepped in, it would have been a 25-unit condominium complex,” said Mr. Schneiderman, explaining that the restaurant would have been a clubhouse for the residents and the marina would have been private. “I’m not sure that any of that is terrible. I just think this is a better option.”

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SHT Parks & Rec. can't handle what they have now!
By left eq (28), Southampton on Jul 25, 18 5:39 PM
2 members liked this comment
Will end up being another decrepit Town location.
By Mouthampton (436), Southampton on Jul 25, 18 7:38 PM
2 members liked this comment
How much real estate tax revenue did we just lose????
By HamptonDad (236), Hampton Bays on Jul 25, 18 11:27 PM
4 members liked this comment
dont need any more of that
By kuali (32), southampton on Aug 2, 18 12:43 PM
Ripped off again
By chief1 (2783), southampton on Jul 26, 18 12:57 AM
1 member liked this comment
I hate waterfront parks! I wish the Lobster Inn was sold to the highest bidder and McMansions were built there. I spent time with my family at Old Flying Point last weekend, that place is a total dump, it should be sold. The Town of Southampton is a horrible place and life sucks : (
By Aeshtron (410), Southampton on Jul 26, 18 9:45 AM
1 member liked this comment
You could leave.
By Pacman (270), Southampton on Jul 26, 18 10:58 AM
Great news!!
By johnj (1019), Westhampton on Jul 26, 18 12:15 PM
Inlet Rd Corp paid 1/10 of the price and got the restaurant ? Who's getting the free meals?
As said before, sell to the highest bidder. Why is the town competing for marina spaces?
Bad news... More tax base lost, how much of tax relief did Inlet Rd get????
By knitter (1895), Southampton on Jul 26, 18 12:45 PM
This is great news and will be a wonderful addition to our community. People are crazy to think that real estate tax revenue is more important than having public, recreational, and aquaculture access to our local waterways. I would take this deal any day of the week over a series of mcmansions being built and closing off the coasts even more so to the local community.
For all of you who don't like it, MOVE. Really, we need less people out here who consider development for the 1% as beneficial ...more
By native68 (20), southampton on Jul 27, 18 4:07 PM
1 member liked this comment
I agree with you about the McMansions. I just wish I had more faith that the town could get anything done properly in a reasonable about of time. CPF can't get out of its own way. Things fall apart while they figure out what they are really going to do and how they are going to do it, costing tax payers ridiculous amounts of money.

Good ideas, poor execution.
By bb (910), Hampton Bays on Jul 28, 18 7:55 AM
We need more waterfront dining we have enough parks. This place is becoming so sleepyyyy
By widow gavits (219), sag harbor on Jul 28, 18 12:41 PM
1 member liked this comment
I'm sure it will look as nice as the Neptune's property looks today.
By Gillnetter (105), Hampton Bays on Aug 2, 18 10:49 AM
2 members liked this comment
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