A group of investors has agreed to pay $17 million for a well-known gay men's resort on Fire Island that includes a hotel, dance hall, cafe and retail shops.
The investor group, FIP Ventures Llc, and the seller, Eric von Kuersteiner, said the Fire Island Pines purchase is the biggest real estate transaction on record for the island.
Changing hands in the deal are the Pavilion discothèque, "the Blue Whale and Bay Bar restaurants, the Hotel Ciel, a grocery store, gym and clothing store, as well as numerous retail spaces and residential properties," according to a news release.
The buyers are real estate professionals Matthew Blesso, 36, Seth Weissman, 26, and journalist Andrew Kirtzman, 48.
"Fire Island Pines may be the best-known, most beloved gay community in the world," the news release said.
"Each summer, thousands travel to the pristine beach community almost as a ritual, while young gay renters and visitors flock to its famed dance clubs. Many homeowners are trendsetters and leaders in the media, finance, entertainment and fashion worlds."
In a separate news release, von Kuersteiner said he sold to the trio because "he felt as though they shared the same vision for the Pines - to keep it an exclusively gay destination and retreat for both residents and guests alike." The deal is expected to close this week.
Von Kuersteiner said he "invested millions of dollars in repairs and renovations throughout the commercial area, including the reconstruction of the Pavilion Complex . . . [and] instituted new parties and events that are now staples in the legendary Pines' entertainment schedule."