Waterfront Apartment
For Sale
$11,500,000
131 East Lake Drive, Montauk, NY 11954
Multi-building residential income property with direct lake access and redevelopment potential.
Property SizeContact for details
Days on Market282
Property Features for 131 East Lake Drive
General Information
Standard status
Active
Total Parking Spaces
23
Property subtype
Multi-Unit
Zoning
Residence A
Units
Unit Mix
1 x 4BR/2BA, 7 x 1BR/1BA, 5 x studio
Multifamily Units
13
Additional Details
Asking Price
$11,500,000
Amenities
sandy beach
private kayak launch
lakeside stairs
boat launch
0.0
Building Details
Buildings
4
Listing Agency:
Compass
Listed By:
Hal Zwick · License #40ZW1016031
(631) 678-2460
Source:
Compass
Added: Nov 27, 2025
Changed: Sep 2
Last Checked: Aug 30 at 6:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This Montauk waterfront apartment compound includes 13 total units arranged across multiple residential structures. The operating layout includes a 7-unit long row building with two one-bedroom apartments and five studios, a three-unit building with one-bedroom apartments, and a standalone one-bedroom lakefront cottage. The former waterfront main house contained two units and has been demolished, leaving its prior footprint associated with future redevelopment planning.
The property provides approximately 107 feet of direct lake frontage, along with a sandy beach, private kayak launch, bulkhead, lakeside stairs, and western exposure. A long driveway and expanded parking area accommodate 23 vehicles. The site is located in the Residence A district and is also subject to the Harbor Protection Overlay District and Coastal Erosion Hazard Zone 2. The property is near Montauk Lake Club & Marina, Montauk Anglers Club & Marina, The Crow's Nest, and other Montauk waterfront destinations.
The property provides approximately 107 feet of direct lake frontage, along with a sandy beach, private kayak launch, bulkhead, lakeside stairs, and western exposure. A long driveway and expanded parking area accommodate 23 vehicles. The site is located in the Residence A district and is also subject to the Harbor Protection Overlay District and Coastal Erosion Hazard Zone 2. The property is near Montauk Lake Club & Marina, Montauk Anglers Club & Marina, The Crow's Nest, and other Montauk waterfront destinations.
Key Highlights
- 13 total units across a multi‑building residential compound
- Approximately 107 feet of direct lake frontage with sandy beach
- Private kayak launch, bulkhead, lakeside stairs, and western exposure
Property Analytics
Property Profile
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 11954, NY
4,318
Population
4,565
Households
0.9
Avg Household Size
50
Median Age
49%
College-Educated
96%
High-School Grad
18.5 sq mi
ZIP Area
233
Density / Sq Mi
$129,375
Median Household Income
$59,583
Median Earnings
$2,061
Median Rent
$1,186,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-building residential income property with direct lake access and redevelopment potential.
Where is this apartment building located?
The property is located at 131 East 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: 13 total units across a multi‑building residential compound; Approximately 107 feet of direct lake frontage with sandy beach; Private kayak launch, bulkhead, lakeside stairs, and western exposure
