George Clooney On Deck In Westhampton Beach Resort Deal

So one part will be luxury homes for others to live in and will there be a part what will be private property for George and Rande?

Sounds more like it will be an real estate investment for George and Rande.  There will be highend homes and a golf club and other recreational activities in probably what will be a gated community.

Nice investment until the next storm hits. I hope they have a lot of insurance - IF they can get it! Waterfront property n the Hamptons is risky.

Don't they have FEMA undertakings with a  new development now, Lizzy? Surely they must have checked out all these things before committing to such a project.

Very exciting - never a dull moment with this lot!

PAN - At this point I'm not sure what FEMA does. I know people who are still waiting for FEMA funds from Sandy. My friend's son just got through with the umpteenth round of paperwork they've had to fill out - and they're not even waterfront property!

I'm sure George and Rande have looked into all these issues or they wouldn't be getting involved. I'm just curious what's been done to the property to take the price from $750,000 to $19 million in just 5 years. That's quite a price jump, even for the Hamptons.

I was wondering the same thing about the price. Maybe the seller got it when it was distressed or nearing foreclosure or something. The $19M is more in line than $750K for that market, isn't it?

George is certainly not going to be one of those elderly celebrities who need the benefit of charity events.

I can't find the article now, but Mike Meldman (partner in Casamigos) is also buying property nearby to develop.

The Mike Meldman connection

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Maybe when the Murstein brothers (?) bought the property for $700,000 (maybe undeveloped) they then developed the Dune Deck Resort.  It sounds like the resort didn't fair too well over the years. Maybe it was losing money so these guys put it on the market and  sold it to Discovery Land Group for the $19 million.  That would explain the significant increase in the selling price.

It sounds fabulous .

Confirmation:

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George Clooney's Business Partner Backs Hamptons Luxury Home And Golf Community Project



      

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Dune Deck, which was originally built in the 1940's, is expected to function as a beach resort, following a renovation. (Photo: Clint Spaulding/PatrickMcMullan.com and Facebook)

A previous East End hot spot, the Dune Deck Beach Resort in Westhampton Beach, has been purchased by Discovery Land CEO and Founder Michael Meldman from Medallion Financial Corp.'s Alvin and Andrew Murstein for $19 million, according to the [url=javascript:void 0]New York Post[/url]. Medallion Financial Corp. bought the property in 2010 for $700,000.

Along with picking up the Hamptons property, Meldman, who partnered with [url=javascript:void 0]George Clooney[/url] and Rande Gerber for Casamigos Tequila, is proposing to build The Hills at Southampton, a luxury home and golf community on a 500 acre parcel of land located in East Quogue. Dune Deck would become a part of the development, allowing homeowners access to their beach, pool, and tennis facilities.

Dune Deck, which was originally built in the 1940's, is expected to function as a beach resort, following a renovation. The Westhampton Beach Resort currently sits on eight acres of seaside property.

So, this is a different story from the original story above.  Mike wasn't mentioned as a buyer in this property, and George and Rande aren't mentioned as buying partners for this.





George Clooney's Business Partner Backs Hamptons Luxury Home And Golf Community Project

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Dune Deck, which was originally built in the 1940's, is expected to function as a beach resort, following a renovation. (Photo: Clint Spaulding/PatrickMcMullan.com and Facebook)

A previous East End hot spot, the Dune Deck Beach Resort in Westhampton Beach, has been purchased by Discovery Land CEO and Founder Michael Meldman from Medallion Financial Corp.'s Alvin and Andrew Murstein for $19 million, according to the [url=javascript 0]New York Post[/url]. Medallion Financial Corp. bought the property in 2010 for $700,000.

Along with picking up the Hamptons property, Meldman, who partnered with [url=javascript 0]George Clooney[/url] and Rande Gerber for Casamigos Tequila, is proposing to build The Hills at Southampton, a luxury home and golf community on a 500 acre parcel of land located in East Quogue. Dune Deck would become a part of the development, allowing homeowners access to their beach, pool, and tennis facilities.

Dune Deck, which was originally built in the 1940's, is expected to function as a beach resort, following a renovation. The Westhampton Beach Resort currently sits on eight acres of seaside property.

Perhaps George is keeping his money
for his own UK property.

There's an interesting piece by Richard Johnson on this in the NY Post today. Apparently Alec Baldwin is opposed to the development and has taped a psa opposing it.

Johnson claims that "Clooney told me, "I've never heard of it." He then mentions George and Rande being partners with Meldman in Casamigos and having owned homes in his El Dorado Beach Club in Cabo and all of them vacationing together.

I'm not sure what point, if any, he was trying to make. Maybe just that he thought George's response was odd. I know I did.

The Westhampton development and the Southampton development are two separate deals but there does seem to be a connection between the two. It seems that residents of the Southampton community would have access to the Dune Deck beach resort.

I find it odd that Johnson didn't ask any follow-up questions to George's denial of not knowing anything about the Southampton project. And has it ever been confirmed by quote from anyone from Discovery Land or George's rep that he is an investor in the Westhampton project? In the articles I've read about the Discovery Land purchase of these properties Meldman is identified as the CEO and a partner with George and Rande in the Casamigos business. Are there assumptions being made that George and Rande are therefore partnering with Meldman on this project? I'm just asking the question. I'm not sure what is the real story.

Donnamarie - I don't have a clue. Earlier stories made it seem like George and Rande were at least investors in the project. Maybe there's been a name change for the development (Johnson called it "The Hills") that George isn't aware of. Or maybe the whole thing is being handled by his business people and he really doesn't know anything about it.

I don't know what George's involvement is, but it doesn't seem like this project is going to happen anytime soon.

It seems to me more of an assumption that George is an investor.