Gosman’s Dock and its various related properties listed for $45 million in March of 2023.
Last month, word spread quickly that Gosman’s, a prime spread of commercial real estate along Montauk Harbor that has long been the epicenter of the Montauk fishing industry, had sold. Now we know the selling price.
Selling Price Revealed
Suffolk County deed transfers available on Friday revealed that the nine parcels involved in the sale, totaling nearly 12 acres, closed Oct. 21 for a total of $33,082,868.
Buyer Identified
It has been reported that the buyer was Stephen Deckoff, a billionaire who founded private equity firm Black Diamond Capital Management, which manages $10 billion in assets, according to Forbes. He is a U.S. Virgin Islands resident and real estate investor, owning multi-million dollar properties in New York City, Colorado and Beverly Hills. He also made news last year when he bought Caribbean islands Great St. James and Little St. James, which had belonged to Jeffrey Epstein, for $60 million.
History of the Property
Gosman’s, as it is known, has been on and off the market several times over the years. Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, listed the properties in March of 2023 at $45 million.
Property Details
Since 1943, the Gosman’s real estate portfolio has been home to their family-owned businesses, including fish packing, a fish market and restaurants. They currently hold four restaurants, six retail stores, a wholesale lobster and fish business and four staff housing properties, totaling 48,145 square feet of space, plus the dock and marina. There is also a large parking lot and some vacant land included in the deal.
Breaking Down Gosman’s Sale
This major sale, the largest overall sale in Montauk this year and one of the biggest commercial trades on the East End in 2024, consists of nine parcels on 11.6 acres along Montauk Harbor. Two of the contiguous waterfront properties at 484 and 500 West Lake Drive, which offer 600 feet of contiguous water views, made up the bulk of the sale at $13,763,978 and $13,063,995.
Other Properties Sold
Harrington Property Associates LLC owned several lots with resort zoning, including a mainly vacant 1.98-acre parcel at 543 West Lake Drive, across from Uhline’s Marina that sold for $1,506,272. There is also a building at 543 West Lake Drive that includes Gaviola’s Market, Suffolk County National Bank and a boat storage area that backs up to Wells Avenue.
Conclusion
The sale of Gosman’s Dock and its related properties marks a significant milestone in the Montauk real estate market. With a total sale price of $33,082,868, it is one of the biggest commercial trades on the East End in 2024.
FAQs
Q: Who is the buyer of Gosman’s Dock and its related properties?
A: The buyer is Stephen Deckoff, a billionaire who founded private equity firm Black Diamond Capital Management.
Q: What is the total sale price of Gosman’s Dock and its related properties?
A: The total sale price is $33,082,868.
Q: What is the history of the property?
A: Gosman’s, as it is known, has been on and off the market several times over the years. Marcus & Millichap listed the properties in March of 2023 at $45 million.
Q: What is included in the sale?
A: The sale includes four restaurants, six retail stores, a wholesale lobster and fish business, four staff housing properties, a large parking lot, and some vacant land.
