Marcus & Millichap closes nine-property mixed-use portfolio sale for $34.35 million

Montauk, NY Marcus & Millichap brokered the $34.35 million sale of Gosman’s Dock, a 48,145 s/f, nine-property mixed-use commercial real estate portfolio on 11.6 acres.

“We leveraged our relationships in our firm’s global capital division to procure the buyers,” said Henri Kessler with Marcus & Millichap in Manhattan. Kessler, Michael Tuccillo and Eric Anton brought the portfolio to market on behalf of the sellers, Gosman’s Restaurant & Bar LLC - Bob Gosman Co. Inc. - Gosman’s Restaurant Bar Inc., and Harrington Property Associates LLC. The team also procured the buyers.

“Our buyers, Stephen Deckoff, founder of private equity firm Black Diamond Capital Management and his son, Stephen E. Deckoff, are well acquainted with eastern Long Island, Montauk, and Gosman’s waterfront commercial real estate portfolio. They plan to preserve these landmark assets while upgrading the food and beverage experience in partnership with the Bagatelle Group from France,” said Kessler.

Known collectively as Gosman’s Dock, the real estate portfolio began with a land lease in 1943 and grew to include four restaurants, a fish market, six retail stores, four staff residences, ample parking, a marina, fish charter facilities, and a boat rental site. The sale includes vacant land and the option of building up to a 46-room hotel.

Montauk, located on the Atlantic Ocean and Block Island Sound, is a travel destination for New York City residents and tourists worldwide. The Long Island Rail Road’s Montauk station provides train service to destinations throughout Long Island and New York City.