Bedell Cellars is up for sale for $17.9M
The barrel and tank room holds the 2013 vintage at Bedell Cellars in Cutchogue. Credit: Randee Daddona
Bedell Cellars, the 95-acre Cutchogue estate winery that also owns the Corey Creek brand, is the latest Long Island winery to go on the market after the death of its owner, Michael Lynne, last month.
The property is being listed by the Corcoran Group for $17.9 million, according to Gary DePersia, of the realty company's office in East Hampton.
Interest has been brisk since he began shopping it quietly over the past couple of months, DePersia said. "We've had people from France, California, New York, Long Island take a look at it," he said. "It's got a great reputation."
Lynne, also a former chief executive of New Line Cinema, died in March at the age of 77.
The sale includes Bedell's main Cutchogue property of 50 acres with a 10,000-square-foot tasting room and production facility, an equipment barn, and an 1,800-square-foot cottage that's listed on the National Register of Historic Places.
The sale also includes the 22-acre Corey Creek vineyard and tasting room in Southold.
The Bedell winery dates to 1980, when Kip and Susan Bedell planted the first vines on the Cutchogue property. It was sold to the Lynne family in 2000.
DePersia said it will be up to the new owner whether the current staff continues, but he stressed the property will "definitely stay a winery."
Bedell joins a long list of Long Island wineries and vineyards that have gone on the market in recent years. Last year, Palmer Vineyard was sold to the Massoud family, owners of Paumanok Vineyard, and Martha Clara Vineyard was sold to the Rivero Gonzalez family, a Mexican industrial company with interests in the wine and real estate fields.
"The market in general is certainly interested in wineries," said DePersia, who hasn't previously sold a winery.
Mark Harrington, a Newsday reporter since 1999, covers energy, wineries, Indian affairs and fisheries.
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