Just in time for the summer season, the historic Pridwin Hotel and Cottages will reopen to guests from June after a two-year pandemic-induced closure and a $28 million upgrade.
The New York Post reports that Shelter Island’s largest hotel will be up and running by June 17 with an all-new look for its 49 rooms and 16 private cottages sitting on 7 acres on Crescent Beach.
The upgrades retain the structure’s original bones and some of its light fixtures, including three chandeliers salvaged from the 1927 dining room that were restored and moved to the upper lobby, which now features a more modern motif.
The hotel was purchased by Curtis Bashaw’s Cape Resorts in 2021 after working with the Petry family, who have owned and operated the hotel since 1961, on its redevelopment since 2019, according to the Shelter Island Reporter. The Petry family is still part of the team that operates the hotel.
In October last year, Fort Amsterdam Capital, in partnership with Tilden Park Capital Management, took out a $17.4 million first mortgage to pay for the renovation.
Cape Resorts also owns the Barron’s Cove resort in Sag Harbor, as well as numerous inns in Cape May, New Jersey, including Congress Hall and the Virginia Hotel.
Shelter Island sits between the North and South Forks of Long Island and is accessible by ferry from both sides.
The Pridwin isn’t the first classic hotel in the area to get an influx of cash and a new look. A number of investors have recently bought and upgraded North Fork hotels, including the Sound View Hotel, Harbor Front Inn and Menhaden Hotel in Greenport, as the largely agricultural area looks more like its upscale counterpart South.
Last month, the kitschy 1950s Silver Sands Motel, also in Greenport, was sold to Silver Sands Holdings I, an LLC that promises to invest $4 million to modernize the hotel while retaining its old-school charm. .
[New York Post] — Vince DiMiceli