It has been several months since the anticipated deal between Ram’s Head Inn owners Linda and James Eklund with Easton Porter — a Virginia-based company operating high-end hotels and restaurants — fell through. But the Inn has remained on the market.
Now comes word from CURBED Hamptons website that the $11.9 million price tag from last summer has dropped to $9.75 million. An additional 2.5 buildable acres also is for sale, according to CURBED, but the price for that parcel is still not confirmed.
The Eklunds have not responded to an inquiry about whether they have lowered the asking price.
Peter McCracken of the Corcoran Group was handling the original effort to locate a buyer but CURBED said Peter Humphrey of Douglas Elliman is the current agent.
The 4.3-acre site on Coecles Harbor features 22 guest rooms, 15 bathrooms, a dining room with seating for up to 110 people, a bar area, tennis court and 900 feet of beach front property with eight moorings and a dock.
When Easton Porter was considering the purchase, plans called for major renovations that would have included fewer sleeping rooms in the main building, but several individual cottages on the site; a lessening of seating in the restaurant; no increased water use on the property; and an upgraded septic system.
Neighbors objected to what they saw as a “wedding mill” that would bring more noise to the area. Last August, Easton Porter representatives made it clear they wouldn’t go to court to push their efforts forward.
If neighbors didn’t want them to purchase the property, they would pack up and go home. Within a week or two of one of their representatives making that statement, the offer to purchase the Ram’s Head Inn was off the table.
The Eklunds have been clear that the Inn has remained on the market since that deal collapsed, but this is the first time there has been any mention of a new broker or a reduced sale price.