Done Deals: HFF announces the sale of the Atlantic Terrace beach resort in Montauk, New York

Wednesday, August 22, 2018

HFF announces the sale of the Atlantic Terrace beach resort in Montauk, New York

Atlantic Terrace deck, Montauk, NY

K.C. Patel

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Atlantic Terrace, a 96-room, full-service beach resort located in Montauk, New York.

The HFF team marketed the hotel on behalf of a private seller. Bridgeton Holdings purchased the property unencumbered of existing management.

The property will be managed by Atit Jariwala’s Bridgeton Holdings, the luxury, boutique hotel operator that owns and operates a number of hotels throughout the country, including The Walker Hotel in Manhattan.

Atlantic Terrace sits on more than 100,000 square feet of oceanside land at 21 Oceanview Terrace in Montauk, which is a year-round destination located at the tip of Long Island’s South Fork peninsula approximately 100 miles from New York City.

Danil C. Peek

The family-owned hotel is in a high-barriers-to-entry area within walking distance to Montauk Plaza Village and proximity to numerous restaurants, bars and nightlife.

Additionally, the hotel is a short drive from Ditch Plains Beach, known as the best surf spot on Long Island.

Atlantic Terrace features oceanfront views with direct beach access, a heated outdoor swimming pool, fitness center and a locally-sourced food and beverage outlet serving hot breakfast and lunch options.

The HFF investment advisory team representing the seller included senior director KC Patel and senior managing director and head of HFF’s hotel group Daniel C. Peek and executive managing director Manuel de Zárraga.

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

Manuel de Zarraga

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).

For more information, please visit hfflp.com or follow HFF on Twitter @HFF.