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Damianos Family "Entertains" Idea Of Selling Pindar Vineyards

Andrew Nachemson

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Pindar Vineyards in Peconic is the largest producer of wine on Long Island. (Photo: Facebook/pindar.wines)

Encompassing more than 500 acres, housing 17 varieties of grapes that are then crafted into 23 different types of wine, and generating a total of 70,000 caskets annually, Pindar Vineyards in Peconic is the largest producer of wine on Long Island. Named after an ancient Greek poet, the company was founded in the 1980's by Dr. Herodotus "Dan" Damianos and has remained a family business throughout the years. But, according to a Newsday article and a "for sale" listing on loopnet.com, the Damianos clan could be closing up shop on their vineyards for an exorbitant price.

$65 million is the number floating around for the purchase of the entire vineyard's properties and operations (which include Pindar's Duck Walk properties, a large warehouse, and wind turbine). Where this sum originated from isn't exactly clear as the entry on loopnet.com is devoid of a price listing. Amir Alishahi of Sun Properties, the listing agent, has also claimed that the family is open to selling the property in parcels. The loopnet.com posting asserts that there are four fully operational vineyards that could potentially be purchased collectively or individually, which would effectively eliminate Pindar's status as Long Island's largest vineyard.

Despite this flurry of activity, the Pindar family has emanated a message of success and stability. Jason Damianos, the chief winemaker and son of founder Dan Damianos, emphasized that the company was "doing very well" and that they are "not actively trying to sell it." According to him, the notion of even considering a sale came exclusively from the mind of real estate agent Alishahi. Of course, Damianos clarified this by acknowledging that the family would "entertain" a potential sale if the right offer were made. Which, according to the unnamed "family member" referenced by Newsday, is no less than $65 million.


Guest (Natalie DelGado) from Southampton says::
Good research. Sad to see the family possibly leaving.
Jun 18, 2013 10:24 am

 

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