Boutique Hotel Operator Buys Atlantic Terrace Beach Resort in Montauk for $32.2 Million

New York-based boutique hotel owner and operator Bridgeton Holdings purchased the 96-key Atlantic Terrace beach resort hotel in Montauk, New York, for $32.15 million, or about $335,000 per key.

Bridgeton Holdings acquired the oceanfront hotel from a private investor taking title as CTM LLC, which originally acquired the property in 1999, according to CoStar data. Located on Long Island’s South Fork at 21 Oceanview Terrace, the hotel will also be…

Joint Venture Team Snaps Up More Brooklyn Retail Properties

Brooklyn-based developer RedSky Capital and U.K.-based joint-venture partner JZ Capital Partners are snapping up more parcels along North Sixth Street in the Brooklyn neighborhood Williamsburg.

The two firms — which formed a $1 billion team under the moniker RedSky/JZ in 2012 and then began expanding in the Brooklyn and Miami markets — have acquired three additional freestanding retail buildings at 124-136 North 6th Street.

CoStar News can…

Greek Investor Sells Hawthorne Apartments for $39.8 Million

Athens, Greece-based Zeus Capital Partners sold the 90-unit Hawthorne Apartments in Valley Stream, New York, to a undisclosed buyer taking title as Hawthorne Owner LLC for $39.8 million, or about $442,000 per unit.

Zeus Capital Partners, which invests in properties across Europe, the Middle East and the U.S., originally purchased Hawthorne Apartments in 2012, according to CoStar data. Other U.S properties Zeus Capital owns include the 33-unit Sage…