Montauk's Shagwong Restaurant Sold

Shagwong Restaurant and Tavern, a Montauk mainstay whose patrons have included Andy Warhol and The Rolling Stones, is under new ownership.

Newsday reports that the buyers of 774 Montauk Highway are real estate developer Jon Krasner—who also owns Harlow East in Sag Harbor and new restaurant The Saltbox in Montauk—and partner Beau Campsey.

Shagwong has been on the market since 2011 and has been listed for as much as $6.5 million. Recently, the asking price was closer to $3 million.

The 112-seat restaurant and bar was built in 1927—it became Shagwong in 1969—and includes an office, full basement and four-bedroom apartment.

Shagwong is expected to reopen—with little changed—on June 12.