THE DRAKE INN...THE OFFERING: The Drake Inn offers all the best the Hamptons has to offer. Fifteen (15) contemporary units Fifteen (15) contemporary units completely renovated in a

ELLIMANCOMMERCIAL.COM

THE DRAKE INN16 PENNY LANE | HAMPTON BAYS | NEW YORK | 11946

THE DRAKE INN : 16 PENNY LANE | HAMPTON BAYS | NEW YORK | 11946

THE OFFERING: The Drake Inn offers all the best the Hamptons has to offer. Fifteen (15) contemporary units

completely renovated in a sleek modern design, new navy style bulkhead with 6 boat slips. This spectacular waterfront

property has an updated inground pool along with a modern, main residence consisting of three (3) bedrooms, five (5)

baths, a roof deck with sunset views, and a spacious sun-drenched office. The Drake Inn is a landscaped oasis and not

only a lucrative investment opportunity but is also rated in the top 10% of hotels worldwide by TripAdvisor. Reviews from

Millions of Trip Advisor Travelers Place The Drake Inn in the top 10% Worldwide! Recipient of the TripAdvisor Travelers'

Choice 2020 award, as well as Certificate of Excellence for the past five years since 2014. Located on a peninsula, the

property's water access and boat slips lead directly to Shinnecock Bay. Minutes to the Ponquogue Bridge, Dune Road

beaches, waterfront dining, and village. TRUE TURN KEY OPPORTUNITY!

LOT SIZE: 0.96 ACRES BUILDING SIZE: 7000 SF

# OF UNITS: 15 BOAT SLIPS: 6

PARKING: 17 +/- SPACES ZONED: RWB

TAXES: $15,052.50 ASKING PRICE: $6,500,000.00

PARCEL ID 446950 SECTION 323 BLOCK: 2 LOT: 15

TOWN OF SOUTHAMPTON, NY

DECRIPTION: 15 UNIT WATERFRONT RESORT HOTEL PLUS (1) ONE 3 BR/ 5 BTH MAIN RESIDENCE

Michael G. MurphyExecutive Vice President | Head of Operations

Licensed Associate Real Estate Broker

Direct: 631.858.2460 | [email protected]

Margaret GrioliDouglas Elliman Real Estate

Licensed Real Estate Salesperson



THE DRAKE INN

16 PENNY LANE | HAMPTON BAYS | NEW YORK | 11946

THE DRAKE INN


THE DRAKE INN


THE DRAKE INN


THE DRAKE INN


THE DRAKE INN










• TREMENDOUS UPSIDE POTENTIAL

• 15 UNIT RESORT HOTEL

• ADDITIONAL INCOME VIA BOAT SLIPS

• TRUE TURNKEY OPPORTUNITY



INCOME DOES NOT INCLUDE PROJECTED INCOME FROM BOAT SLIPS OF $18,000.00+





‘ Licensed Real Estate Salesperson


HOTEL EXPENSESMerch. Fees $4,775.44

Advertising & Promotion $963.81

Donation $100.00

Dues & Subscritions $10,471.22

Expeditor $700.00

Insurance $7,555.89

Landscaping & Groundskeeping $8,032.53

Licenses & Permits $250.00

Maintenance $5,600.84

Office Supplies $1,145.00

Other Misc. Expenses $1,012.32

Payroll Expenses $15,284.90

Purchases Debit Card $666.76

Laundry $2,544.40

Pool Repairs $3,924.29

Repairs-Misc. $1,839.00

Maintenance-Misc. $4,395.00

Supplies $14,211.58

Tax $21,792.31

Telephone Expense $2,559.84

Electric $6,214.64

Water $563.48

TOTAL EXPENSES $114,603.25

HOTEL INCOME $329,682.59

HOTEL EXPENSES $114,603.25

NET OPERATING INCOME $215,079.34

Commercial real estate involves more than just property listings. To get the

most effective results, you need to partner with a company that has a full

complement of services and an in-depth team of professionals to help with all of

your needs. Douglas Elliman’s team of commercial real estate experts is

committed to unrivaled performance standards when working with tenants,

investors, purchasers and owners. We represent all major property types

including office, industrial, retail, apartment and land. We treat each

assignment with commitment and focus, from a single transaction in a local

market to national and multi-market assignments. We help negotiate contracts,

coordinate construction and provide both property management as well as

ongoing advisory service to satisfy your changing real estate needs. Our breadth

of market knowledge, unprecedented network and use of innovative technology

extend to all types of property transactions.

For information on this property please contact:

WE ARE COMMERCIAL REAL ESTATE

110 WALT WHITMAN ROAD, HUNTINGTON STATION, NY 11746. 631.549.7401 © 2020 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION

IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM

COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. IF YOUR PROPERTY IS CURRENTLY LISTED WITH ANOTHER

REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL ESTATE BROKERS. WE COOPERATE WITH THEM FULLY. EQUAL HOUSING OPPORTUNITY.

COMMERCIAL

1772 E. Jericho Tpke. Ste 1 A

Huntington New York 11743

Office: 631.858.2405








Documents

THE DRAKE INN...THE OFFERING: The Drake Inn offers all the best the Hamptons has to offer. Fifteen (15) contemporary units Fifteen (15) contemporary units completely renovated in a