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Hamptons Life

Aug 13, 2014 5:19 PMPublication: The East Hampton Press & The Southampton Press

Southampton's Capri Hotel Back On Market For $5.2 Million

Editor's Note: Have a real estate tip? SHARE IT WITH OUR REAL ESTATE TEAM!
Aug 17, 2014 12:10 PM

It is also home to BLT Steak, a popular New York City-style steak house that has expanded to locations across the country and the world. The eventual buyer and current restaurant operator can both opt out of the lease if they so choose—but why mess with a good thing?

A co-owner of the property, Steven Kamali, also owns the Surf Lodge in Montauk. He originally listed the hotel as part of a $20-million package of multiple hotels in the Southampton area last year, but apparently decided that the Capri was best represented on its own. A Club King room with a king-sized bed at the Capri can be yours for just under $600 a night, and the hotel is fully booked throughout the summer season. The restaurant closes after Labor Day, but the hotel stays open through late October.

The Capri’s marketability does not come from the specifics of the property, but rather from the status it has garnered as a celebrity hangout—no cameras are allowed in the Capri. The property also has a well-established history of trendiness—it was formerly home to the Pink Elephant nightclub and Nobu restaurant.

“This is a turnkey operation,” said Anthony Cerio, the broker for Brown Harris Stevens who is handling the sale. This means that anyone looking to buy it will likely keep things as they are, continuing in the time-honored tradition of celebrity pool parties.

“We’ve showed it seven times this week already,” said Mr. Cerio. “We expect this one to sell quickly.”

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$600 a night to stay on County Road 39. Can't understand why this isn't flying off the market
By btdt (432), water mill on Aug 13, 14 6:43 PM
1 member liked this comment
Agree, tis a mystery:)
By sandydog21 (194), Southampton on Aug 13, 14 9:09 PM
The online reviews for this place are mostly terrible (one review said there was no hot water.) It will be a $ 5 million money pit.
By fishcove (36), southampton on Aug 14, 14 10:01 AM
That place is a dump, needs a total renovation or knocked down.
By islander6615 (133), hampton bays on Aug 15, 14 6:34 AM