East Hampton Point, the luxury resort and marina on five acres of Three Mile Harbor waterfront, has been purchased for just under $18 million by an investment group led by Heath Freeman, the president of the Alden Global Capital hedge fund and a Montauk resident.
Known as a popular venue for weddings and parties, and for sunset watching, the resort includes a seven-suite hotel, 13 private cottages, a pool, a tennis court, a patio overlooking the harbor, and a large restaurant space that was most recently home to Moby's before it decamped to its current spot on Pantigo Road by Spring Close Highway.
The new owners plan to renovate the cottages, provide more amenities for boaters, upgrade the sanitary system, and, by summer, open a Mediterranean restaurant called Si Si, according to Davidson Goldin, a spokesman for Mr. Freeman.
Also included in the deal is the nearby Shagwong Marina, which offers in-water boat dockage and amenities such as restrooms, showers, and laundry facilities.
Ben Krupinski, the owner of the Ben Krupinski Builder construction company, who died in a plane crash in 2018, was an owner of East Hampton Point in 2006 when it was listed for sale for $55 million. It was last listed for $27 million, according to the Out East real estate website.
The new owners purchased the property from Mr. Krupinski's estate.