A B&B in the Amagansett Lanes Asking $7.5 Million
By Laura Euler
This one could be a real sleeper, if the financials work out. There is a 4500 square foot main house with seven guest rooms, plus five separate cottages, all on 1.7 acres in the hot Lanes. Asking price for the property, repped by Maung Htun Han at Hamptons Realty, is $7.5 million.
Now, depending on the condition (a big if), what would need doing is complete redecorating at the very least, as the guest rooms and public rooms are extremely dated.
The other thing to do is add a pool–there seems to be plenty of room for one.
And again, we don’t know the conditions of the cottages, though they look in OK shape in the photos.
So granted, quite a lot would need to be spent–don’t forget the bicycles!–but with boutique hotel room rates in the Hamptons in the stratosphere, it’s entirely possible this could translate into a nice money spinner. Location is good–south of the highway, walk to town or beach.
What say you? A fair ask or what?
For more, click here. 30 Atlantic Avenue, Amagansett
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