Southampton’s Lobster Inn Sold For $8.45 Million
Putting neighbors’ fears to rest, the iconic former Lobster Inn property will be dedicated to open space, a marina and an aquaculture farm with small restaurant rather than a proposed condominium development.
“This transaction will help protect water quality and will preserve the neighborhood from overdevelopment,” according to a release from Southampton Town Supervisor Jay Schneiderman.
While most of the property was purchased by Southampton Town from the Community Preservation Fund, the former restaurant building and the agricultural land was acquired by a third-party aquaculture owner, Inlet Road Operations. The town’s department of parks and recreation will manage the marina.
The property was represented by David Donohue and Joe Peraino of Douglas Elliman.