Palms Hotel and CJ’s Restaurant Listed
Ocean Beach, NY. - The Palms Hotel Fire Island, formerly known as Jerry’s Rooms, was purchased by the Mercogliano family in 2004. After a full renovation, The Palms officially debuted on Memorial Day weekend in 2005.
During the past 15 years, the Mercogliano’s have acquired more properties to assemble what The Palms Hotel is today, with 42 rooms across 8 buildings including CJ's within the Village of Ocean Beach. Lodging options are extensive with choices including four bedroom/two bathroom cottages with full kitchens, six and eight person suites, king rooms and classic double rooms at the flagship building.
To meet the desire for a true Fire Island experience, The Palms has curated travel packages for its guests. In addition to free WiFi, complimentary breakfast catered by CJ’s, and Fire Island Coffee located in the main lobby of the hotel, The Palms provides bicycles, beach chairs, towels and umbrellas to guests. There are peddle boats, paddle boards, and kayaks available, all included in the sale, that are perfect for those with a love of the beach and the water.
Realizing that food and beverage is inextricably tied, in 2012 the Mercogliano’s purchased the iconic CJ’s Restaurant and Bar – the “Home of the Rocket Fuel,” and is a well known attraction of Fire Island. This acquisition of CJ’s completed the entire hospitality package for the hotel. CJ’s is open all year and is celebrating its 50th year in operation.
“We feel that we have fulfilled our vision of The Palms and nurtured its development,” says Laura Mercogliano. “We assembled property as they became available to create a well-rounded experience, and we feel that it is time to pass the baton to another entity.”
“It is truly a machine that the couple has created, and there is no other place like it over on the island,” said Sabena Arora, principal and founder of Acadia Lodging Brokers and Advisors. “It’s a unique asset. There’s very limited hotel supply on Fire Island, and the capacity to build and develop on Fire Island also is limited.”
Arora brings expertise to this sale with her specialization and background in the hotel industry and noted that she believes these properties to be “a hidden gem.” She will work alongside Alan Medvin and Abigail Medvin, two brokers at Fire Island Sales & Rentals who bring a local understanding to the sale. Nearly 45% of reservations are made one year in advance. The Hotel and Restaurant are listed together for $14M.
www.palmshotelfireisland.com / www.cjsfireisland.com
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