Get ready for a summer treat as the iconic Baron's Cove hotel in Sag Harbor is set to reopen with a brand new look and feel! But here's the twist: it's not just a simple reopening; it's a complete transformation.
The hotel, now renamed Faraway Sag Harbor, is part of an exciting new hospitality brand developed by a trio of industry leaders: Blue Flag Capital, Collared Martin Hospitality, and Bain Capital Real Estate. These companies have big plans for this iconic spot, and they're putting their money where their mouth is.
Last summer, they acquired the 67-room hotel and restaurant for a whopping $66.5 million. That's a serious investment, and it's clear they have big dreams for this coastal gem.
According to their release, Faraway Sag Harbor will be reimagined as an elegant compound, with lush gardens, cozy patios, and a relaxing poolside atmosphere. And if that's not enough to whet your appetite, they're also opening a flagship restaurant called Zagara, inspired by the stunning Amalfi Coast of Italy.
But here's where it gets controversial: while the new owners are staying tight-lipped about the renovation costs, we do know that JLL's Hotels & Hospitality Group arranged a $54 million refinancing for Baron's Cove on behalf of Blue Flag Capital and Bain Capital Real Estate. That's a significant chunk of change, and it raises the question: what exactly are they planning to do with all that money?
Jason Brown, CEO and co-founder of Blue Flag Capital, had this to say: "Faraway Sag Harbor is a natural next chapter in our coastal story, carrying forward the seaside charm, maritime heritage, and thoughtful design we've honed in Nantucket and Martha's Vineyard."
And this is the part most people miss: the impact on the local community. Sag Harbor Mayor Thomas Gardella and Ellen Dioguardi, president of the Sag Harbor Chamber of Commerce, both expressed hopes that the new restaurant or hotel would stay open year-round, benefiting the village's business community. However, the new owners have yet to clarify their plans.
Blue Flag already owns several other properties on the East End, including the Greenporter, Haven Montauk, and Sunset Montauk, so they're no strangers to the area. In fact, Ellen Dioguardi, who also works for Express News Group and has lived in Sag Harbor for over 30 years, even worked at Baron's Cove during her time there.
Baron's Cove has a rich history, having been built in the late 1950s and renovated in 2015. It boasts a seasonal saltwater pool, a wellness center, and a tennis court, and it's also a stunning waterfront property. The hotel has deep roots in the community and has ties to prominent creative figures like John Steinbeck. So, it's no wonder that some locals are feeling a sense of loss with the name change.
As Ellen Dioguardi puts it, "The amount of change Sag Harbor has seen in the past decade has been staggering, and people are definitely feeling that angst of a lot of change." But she also reminds us that "The only thing in life that's consistent is change."
So, what do you think? Are you excited for the new Faraway Sag Harbor, or do you feel a sense of loss with the changes? Let us know in the comments; we'd love to hear your thoughts on this iconic hotel's transformation!
