Montauk NY - Panoramic View - next to Gurney's - starting @ 2.8 MILLION

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Panoramic View

If you have been to Gurney's Inn in Montauk NY Gurney's Inn Resort, Spa and Conference Center recently, you would have noticed the MASSIVE construction project going on next door at the Panoramic......

I think the Gurney's TS owners have a LOT to worry about because if right next door the starting price for a 2BR full ownership condo is 2.8 million, what's to keep the Monty family from going in that direction???


from the website....Panoramic View

[bigfrank Administrator Find all posts View Profile Close bigfrank]

I might be eating my words here but I doubt anyone is going to pay that much for a 1 bedroom condo.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Click around the website....check out the unit pictures - gorgeous views....are worth a LOT of money out east.

I edited my post - they are TWO bdroom units....see the floorplans...looks awfully nice.

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

Yeah, I think it's only a matter of time before the Gurney's also turns to condos. It's a shame, really.

[funtime2 Senior Member Find all posts View Profile Close funtime2]

Wow, what a view

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

Wow, what a view

Yup, the best!

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

Gurney's timeshare owners..

Some timeshare owners have reported recent "owner's meetings" being held weekly that are informing owners of huge gaps in funding and huge repair plans- which MAY result in next years assessment being doubled and also MAY result in another special assessment totalling in the thousands! They are supposed to be kindly offering to accept deedbacks in lieu of payment..

Can anyone confirm this is correct?

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

A friend of a friend is seriously considering buying at PV. $2.9 million for a 3 bedroom. She was also shown a 2 bedroom for $2.2 million. Part of the sales pitch is house managed rentals. Montauk has been changing for years, this is not shocking, though it surely sad.

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Yeah, I think it's only a matter of time before the Gurney's also turns to condos. It's a shame, really.

Some timeshare owners have reported recent "owner's meetings" being held weekly that are informing owners of huge gaps in funding and huge repair plans- which MAY result in next years assessment being doubled and also MAY result in another special assessment totalling in the thousands! They are supposed to be kindly offering to accept deedbacks in lieu of payment..

Can anyone confirm this is correct?

IMO What I see happening with Gurney's is that they will end up like Montauk Manor. They will end up forcing there owners to sign back there deeds because of there high fees. Then they will rebuild and make Condos. There will be 50% in Condos , 25% timeshare and 25% hotel