The Lambert’s Cove Inn went on the market for sale last week with an asking price of $6.9 million.
The historic country inn and restaurant in West Tisbury last changed hands in April 2018, when John and Keya Cain bought it for $5.5 million.
“John had just sold his ownership in a financial technology company he founded and had always dreamed of owning a boutique hotel in New England,” Ms. Cain said in a statement emailed to the Gazette Monday. She continued:
“After spending over $1 million in renovations and improvements, the Cains’ dream of a modern farmhouse retreat has come to fruition. The plan was to own the inn for years to come, but when John’s new restaurant technology startup began picking up steam rapidly, it became clear that the inn was ready for new ownership that could provide the attention the property deserves.”
The Cains tried to expand the inn without success in 2019, when the West Tisbury zoning board of appeals decided that the expansion could not be allowed. The property is a pre-existing nonconforming use in a residential area.
Nestled on 7.6 wooded acres off Lambert’s Cove Road, the boutique inn has 17 rooms, 17 bathrooms with extensive gardens, a pool, tennis courts and a 70-seat restaurant, according to the listing on LINK, the Island’s multiple listing service for real estate.
The main part of the inn dates to 1790; a major renovation was done in 2017.
The property is assessed at $2.51 million, according to the listing, with annual real estate taxes of $15,066.
Ms. Cain said she and her husband hope to find buyers who can continue the inn’s long legacy.
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