Blue Flag Capital has acquired the historic Baron’s Cove resort in Sag Harbor, (31 W Water St, Sag Harbor, NY 11963), a luxury property with 67 rooms and views of the cove. Known for its past celebrity guests and high nightly rates, Baron’s Cove was recently valued at $17.2 million. This purchase enhances Blue Flag Capital’s portfolio in the boutique hotel market, which includes recent openings in Nantucket, Martha’s Vineyard, and Montauk. The firm, based in Boston and founded in 2015, aims to expand its vintage vacation spots across New England and beyond. Cape Resorts, the former owner, will continue managing the property.
31 W Water St
