A luxury hotel on the site of the former Grassmere Inn in Westhampton Beach has been awarded $690,512 in tax breaks by Suffolk County.

In an unanimous vote last week, the county’s Industrial Development Agency gave final approval for the tax aid to Melville-based developer WHBH Real Estate LLC in return for its investment of $11.6 million in the property and pledge to create about 14 jobs over two years.

The amount of property-tax savings is $224,587 or 22% over 10 years. But even with the tax aid, the project will generate nearly $600,000 more in property taxes over the next decade than if no improvements were made to the historic inn, according to an analysis by the Brooklyn-based consulting firm National Development Council.

The project consists of restoring the Grassmere’s main building, which dates to the 1880s, and tearing down an annex constructed in the 1960s and 1970s and an adjacent cottage. A new annex would be constructed, along with amenities such as an outdoor pool, fitness center and outdoor lounge area with fire pits.

The new hotel, to be called Seven Beach Lane, would have 16 guest rooms,  split equally between the Victorian and modern contemporary styles, according to Corey Gluckstal, managing member of the development company. He said hotel would hopefully open next year.

Gluckstal told the IDA in July that he wants Seven Beach Lane’s guests to patronize nearby bars and restaurants so the hotel’s guests-only bar and restaurant will have a limited menu.

Article: https://www.newsday.com/business/suffolk-ida-tax-breaks-hotel-westhampton-beach-mlqa8z4w

Leave a Reply

Your email address will not be published. Required fields are marked *

Need More Information?

175 Broadhollow Rd. Suite 140
 Melville, New York 11747

Phone: 516.402.3469
Email: Info@DGNYCommercial.com


DGNY Commercial Logo

© 2020 – DGNY COMMERCIAL. All rights reserved.

We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.

New York State Fair Housing Notice 

The source of the displayed data on all of our listings is provided by either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use.