Morrison Cohen Represents Silver Sands Holdings I in Battle for Complete Ownership of North Fork’s Silver Sands Motel

Morrison Cohen represented Silver Sands Holdings I in a contentious battle for ownership of the historic Silver Sands Motel and Cottages, a 1950s-era beachfront hotel in Greenport, located on Long Island’s North Fork. The sale had been mired in litigation among the remaining owners of the family-run property for 12 years.  

Morrison Cohen was able to negotiate a global settlement for Silver Sands Holdings I, which owned 48.5 percent of company stock in Silver Sands Motel, Inc. and 50 percent of the tenant-in-common rights to the associated real property. This settlement ultimately resolved seven litigation cases and enabled the parties to enter into a stock purchase agreement and real estate transaction that gave Silver Sands Holdings I complete ownership in the company and the real property.   

Morrison Cohen stepped in as lead counsel to Silver Sands Holdings I in 2021 and became involved in four active litigations, which included attaining multiple TRO’s, bringing a defamation case that was sustained in the face of a motion to dismiss, and enforcing the settlement in court through further proceedings. The four cases were filed in the New York State Unified Court System, Suffolk County Supreme Court: Index 613580; Index 608874; Index 29657; and Index 610139.

The sale of the Silver Sands Motel was called “the No. 1 commercial transaction on the North Fork,” by a local real estate agent quoted in an April 17 Newsday article. Silver Sands Holdings I reportedly plans to invest $4 million into the historic hotel for future generations to enjoy.

The Morrison Cohen team was led by Co-Managing Partner Y. David Scharf and Associate Amber Will, who were supported by Partner Kristin Roy and Associate Yuliya Neverova, along with Paralegal Lucy Mahecha.

Read more about the sale on The Real Deal.