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May 7, 2018 8:22 PMPublication: The East Hampton Press

Gurney's Buys Montauk Yacht Club

The Montauk Yacht Club.      KYRIL BROMLEY
May 8, 2018 6:04 PM

Gurney’s Resorts has purchased the Montauk Yacht Club Resort & Marina, which will now be called Gurney’s Montauk Yacht Club & Resort.

The yacht club will be open this season and then close down next winter for an approximately $13 million upgrade to the 107 guest rooms, ballroom, meeting rooms, three restaurants and 35-acre marina and grounds, which is expected to be completed in time for the 2019 season, according to a publicity firm representing Gurney’s.

George Filopoulos of Metrovest Equities and Lloyd Goldman of BLDG Management, owners of Gurney’s Montauk Resort & Seawater Spa, purchased the Montauk Yacht Club and are leading the “transition” of the property, according to the firm.

MEI Hospitality will manage and market the Yacht Club as it does for Gurney’s Montauk Resort & Seawater Spa, the Residences at Gurney’s, and Gurney’s Newport Resort & Marina in Rhode Island.

“The Montauk Yacht Club is respected in the Hamptons as much as in the yachting community,” Mr. Filopoulos said in a press release. “We’re looking forward to elevating the property and its offerings for weddings, groups, and leisure guests, and to now creating opportunities for our guests between our resort and marina destinations in Montauk and Newport.”

According to the release, the yacht club is the largest marina in the Hamptons. The sale price was not immediately available.

The club was previously owned by Island Global Yachting, an affiliate of the Island Capital Group LLC that bought the club in 2007.

“We have had the privilege of being associated with the Montauk Yacht Club for 11 years,” said Andrew L. Farkas, Founder and Chairman of Island Capital and Island Global Yachting in a press release dated May 1. “We’ve enjoyed the Montauk community, the amazing employees of the club, and being able to provide exceptional vacations to the club’s many loyal guests.”

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Nice! I hope they pay people more than the $10 I got there in’11. Awesome views, nice place. Best of luck!����
By Moral Dolphin (23), Southampton on May 8, 18 12:59 PM
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