Fire Island Pines Resort sold for $15.5 million
By Julian Nazar – Staff Reporter, New York Business Journal
Sep 26, 2024
Fire Island Pines Resort has sold for $15.5 million to entrepreneur Tristan Schukraft.
The resort, which accounts for around 75% of the commercial property in Fire Island Pines, includes restaurant The Canteen; restaurant and nightclub The Blue Whale; nightclub The Pavilion; General Store by Base; beach boutique store Tola; hardware store and flower shop Camp; barber shop Handsome; and summer pop-up store Ron Dorff, among other businesses.
In addition, the resort features a hotel that’s currently closed, a pool deck with adjacent retail stores, a three-bedroom house and a 16-bedroom house for employee housing.
Muroff Hospitality Group’s Mitch Muroff represented the sellers, Outpost Pines LLC and Ruff Picketty LLC. Muroff also secured the buyer, Fire Island Pines Holding LLC. The company is owned and controlled by Schukraft.
Schukraft is behind ventures such as Mistr, a telemedicine app that offers access to Pre-Exposure Prophylaxis; Los Angeles LGBTQ+ nightclubs The Abbey and The Chapel; The Tryst Hotel in Puerto Rico and Puerto Vallarta; and the Circo nightclub in Puerto Rico.
The asking price for Fire Island Pines Resort was $17.25 million.
That the resort sold for “a little less than the asking price is likely because of the fact that the hotel is closed and needs a couple of million dollars in renovations to reopen,” Muroff said. “The hotel building represents an opportunity rather than readily available stream of cash flow.”
Muroff added that it is important to the community that Fire Island Pines Resort is being sold to another member of the LBGTQ+ community.
Located on southern Long Island, the resort stretches along 320 feet of the main pedestrian promenade in Fire Island Pines.