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Fire Island Pines Pavilion Sells for $10.1 Million

Fire Island Pines Pavilion Sells for $10.1 Million at Auction

Fire Island Pines Pavilion Sells for $10.1 Million at Auction

Ian Reisner, who also owns the Out NYC hotel on West 42nd Street in Manhattan, is the new owner.

Photo from HWKN

The Fire Island Pines Pavilion, the commercial district that includes restaurants, nightclubs, retail spaces, a hotel and residential housing along the island's harbor, sold at auction yesterday.

It was bought by Ian Reisner — who also owns Manhattan's gay-centric Out NYC hotel — far below the original sale price of $25 million, and was an even bigger bargain, since it sold below the $17 million paid in 2010. A fire destroyed the property in the winter of 2011 and it was later rebuilt, including the Pavilion designed by Matthias Hollwich's firm HWKN.

In a telephone interview with the New York Times, Reisner said he, his business partner, and a small team of investors planned to spend $4 million over the next 18 months to “renovate and rejuvenate” the property. “My idea for the Out was to have a place for L.G.B.T., because we didn’t have that at the time,” Reisner told the Times, who said he has been visiting Fire Island Pines since he came out as gay in 1989. “The Pines is the Out.”

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