East Boothbay inn sells to second-time Maine buyer in off-market deal
COURTESY / SWAN AGENCY REAL ESTATE/SWAN HOSPITALITY GROUP
Smuggler’s Cove Inn in East Boothbay sold in an off-market deal to a buyer who purchased his first property in Maine before the pandemic.
An oceanfront inn in East Boothbay has sold to a buyer who purchased his first property in Maine before the pandemic.
Om Sai Ram LLC bought the Smuggler's Cove Inn, at 727 Ocean Point Road, from 727 Ocean Point LLC for an undisclosed price.
Roger Daigle and Bridget Conley of Daigle Commercial Group Inc. brokered the transaction.
“The buyer was someone who had been in the hotel business and had purchased a property in southern Maine through us in 2019, just before the pandemic, said Daigle. “He was ready to buy a second property and he wanted a waterfront property.”
Confidential marketing
The inn is fronted by a sandy beach on Linekin Bay. The property includes a heated pool and fire pit and provides kayaks, paddleboards, a rowboat and lawn games. Facing westward, the inn is set up like a motel, with six freestanding structures that house 54 updated guest rooms and suites with semi-private balconies. The facility includes a full-service restaurant and bar.
The property was sold as a confidential off-market listing, said Daigle, whose firm represented the seller and secured the buyer.
Although it wasn’t officially on the market, Daigle’s firm put together marketing materials in order to expose it to a couple of buyers on a confidential basis.
Recent upgrades
Jayshree Patel, the inn’s new manager, credited the sellers with doing “a fantastic job” with renovations.
“There had been a lot of work done in the last two years,” she said.
Earlier this summer, the property was seeing a lot of group reservations, including wedding parties, she added.
“It’s definitely for families and people who are celebrating events and love this location,” Patel said.
The plan is to maintain the property as a spot affordable to average guests.
“We’re more of a place that offers a lot of value for people who want a resort type experience without paying resort prices,” Patel said.
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