Beach Resort in Montauk Trades to Bridgeton Holdings
HFF has arranged the sale of Atlantic Terrace, a 96-room, full-service beach resort located in Montauk, NY, on behalf of a private seller for an undisclosed sum. The buyer was Atit Jariwala’s Bridgeton Holdings, a boutique operator that owns and operates a number of hotels throughout the country, and which will also manage the property.
Atlantic Terrace sits on more than 100,000 square feet of oceanside land at 21 Oceanview Terr. in Montauk, a year-round destination at the tip of Long Island’s South Fork peninsula, approximately 100 miles from New York City. The family-owned hotel is in a high-barrier-to-entry area, within walking distance to Montauk Plaza Village and proximity to numerous restaurants, bars and nightlife.
The HFF investment advisory team representing the seller included senior director KC Patel; senior managing director and head of HFF’s hotel group Daniel C. Peek; and executive managing director Manuel de Zárraga.
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