Waterfront Multi-Unit Property with Expansion
131 E Lake Drive, Montauk, NY 11954
- Added:
- Jan 6, 2026
- Days on Market:
- 143
- Last Refresh:
- May 29 at 2:06 pm
Property Features for 131 E Lake Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Garage
- Standard status
- Active
- APN
- 0300-013.000-0003-014.000
- Lot size
- 1.19 Acres
Taxes and HOA fees
- Tax Annual Amount
- 0
Building Details
- Architectural style
- Other
Listing agent Hal Zwick (631) 678-2460
Listing office Compass 63 Main Street, New York, NY (212) 913-9058
Listing date Jan 6, 2026
MLS# 11626472
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Waterfront property with ~107 feet of direct lake frontage, sandy beach, and private kayak launch.
- 13 total units across four buildings, providing immediate income potential.
- 1.19‑acre property with potential expansion and redevelopment opportunities.
- Prime Montauk location near Montauk Lake Club, marinas, restaurants, and other high‑value properties.
- Western exposure offering exceptional sunset views.
- Extensive parking area accommodating 23 vehicles.
Overview
This 1.19-acre multi-family compound in Montauk, NY, features 13 units across four buildings and approximately 107 feet of direct lake frontage with a sandy beach and private kayak launch. The property's western exposure offers exceptional sunset views. The established residential layout includes a former waterfront main house site with redevelopment potential for two units (a 4BR/2BA residence and a 1BR/1BA unit). The long row building contains seven units (two 1BR/1BA apartments and five studio units), while the street-parallel triplex offers three 1BR/1BA apartments. A standalone 1BR/1BA lakefront cottage is located near the shoreline. Waterfront improvements include a bulkhead, sandy beach, lakeside stairs, and a boat launch. A long driveway and expanded parking area accommodate 23 vehicles. The site is located within the Residence A district, governed by the Harbor Protection Overlay District (HPOD) and Coastal Erosion Hazard Zone 2. The property is positioned near the Montauk Lake Club and surrounded by marinas, beaches, restaurants, and high-value residential areas. Nearby neighbors include Montauk Lake Club & Marina, Montauk Anglers Club & Marina, The Crow's Nest, Ditch Witch Deep Hollow Ranch, Montauk Lighthouse, Gotham Tennis Montauk, and Montauk Yacht Club.
Property Profile
Location Intelligence
Current Use by Public Records
Waterfront Land
Location Insight
- Map
- Local Demand
- City
- Montauk
- County
- Suffolk
- State
- New York
- Longitude
- -71.905803
- Latitude
- 41.059007
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 1.19-acre Montauk waterfront property with 13 units and expansion potential.
Where is this apartment building located?
The property is located at 131 E Lake Drive Montauk, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Waterfront property with ~107 feet of direct lake frontage, sandy beach, and private kayak launch.; 13 total units across four buildings, providing immediate income potential.; 1.19‑acre property with potential expansion and redevelopment opportunities.
