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Fire Island Pines Resort Commercial Complex Up for Auction

Fire Island Pines Resort Commercial Complex Up for Auction

Fire Island Pines Resort Commercial Complex Up for Auction

Ready to own your piece of the Pines?

Expect an entirely different kind of invasion of the Pines this year as 80 % of the summer resort destination’s commercial district will be getting new owners. The Fire Island Pines resort commercial district complex — which includes restaurants, nightclubs, retail spaces, a hotel and residential housing — will be auctioned off by New York-based Maltz Auctions on Thursday, January 22, 2015 at 1 p.m. Originally listed for $24.925 million, the Fire Island Pines resort commercial district complex will have a suggested opening bid of $8.5 million.

As anyone who has visited Fire Island Pines can attest, the commercial district complex plays a large role in guests’ and residents’ experiences and, if bought in its entirety, would give its new owners a heavy hand in shaping the overall atmosphere of the community. Included in the real estate on the block are the newly renovated Pavilion Building (and its popular Pavilion Nightclub); the 21-room Botel hotel; a strip of retail outlets; the historic Blue Whale restaurant; the Cultured Elephant f/k/a Canteen; the Pines Pool & Bar; the Rack Gym as well as docks and boat slips.

Despite a near-monopoly of the retail, hospitality and dining/entertainment business in Fire Island Pines, the development’s current owners have struggled to generate profits due, in large part, to a 2011 fire that diminished income and set back expansion plans. However, recent renovations and an increase in ferry traffic seemed poised to invigorate business once again.

Anyone interested in bidding on the complex must register with Maltz Auctions, Inc. prior to the start of the sale.

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