Two Lots For Sale in Montauk Mobile Home Park

Two lots have come on the market in the Montauk Mobile Home Park in Montauk, Long Island. The 199 lot complex became a condominium park in 1976, when 152 existing residents banded together to buy the park out of bankruptcy.  What makes the park unique is the 900 feet of beach frontage on the Atlantic Ocean. And not just any beach, but what is considered some of the finest surfing in the U.S.

The trailer on lot #29 is listed at $495,000.

Frank & Dave’s Analysis of This Story:
Can you imagine reading this article if you were they guy who let this thing go back to the bank in 1976? Assuming the average lot, without ocean frontage, sells for $200,000, then this park would be worth $40,000,000! In 1976, it probably had a note of $400,000 or so. It’s still not the most valuable mobile home park in the U.S., which honor arguably goes to Paradise Cove Mobile Home Park in Malibu, California.

1 Comment

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  By TK, March 21, 2010 @ 11:41 am

  I know Paradise Cove…the monthly there is about $3000.

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