Kontokosta Revamps Dreamer's Cove in Aquebogue Into Cove Place Inn

Step into a building once known as Dreamer’s Cove Inn in Aquebogue, and you feel like you’ve been transported back to a 1950s bayside bungalow on a calm cove of Peconic Bay, ready to kick off the sandals and relax without stress of the hustle bustle of any kind.

For decades, this is what people did at Dreamer’s Cove, tucked away on short dead-end street off of Peconic Bay Boulevard in Aquebogue. And new owner Michael Kontokosta said he wants to keep that same lazy-weekender vibe with his updated version of place he’s calling

“The building is still structurally solid,” he said during a tour of the inn Wednesday morning. “We’re doing more of a cosmetic rehab, you could say.”

Kontokosta and his brother, Constantine, bought the property from Flushing Savings Bank at the end of May for $1.4 million. The bank had been in possession of the inn after the previous owners went through the foreclosure process.  The Kontokostas head up the KACE Group and have also owned the in Greenport since 2004 among several other properties in the Northeast. They are also working on Sixty-Seven Steps Vineyard and Winery also in Greenport, set to open in October.

Kontokosta is shooting for a mid-August opening for Cove Place Inn. And he says he is excited about the sandy beach.

“I’ve been coming out here with my family since 1973, and I’ve never seen a North Fork beach that is so sandy,” he said. “I knew this place existed but I’d never been here before we become interested in buying it.”

Each room at Cove Place has a view of Cases Creek, the name of the sheltered cove off of Peconic Bay where the inn is located. Kontokosta said he did not change the size of any of the 18 rooms but updated the interior décor and went for a “beachy” blue-and-yellow summertime color scheme.

“We want it to be cheery and laidback,” he said. “This is a totally different vibe than the Harborfront — more beachside than urban.”

Guests also have access to an expansive dockside lawn complete with picnic tables, hammocks and lounge chairs. Rooms range from classic doubles and queens to waterfront bay suites and feature kitchenettes, private decks, cable TV, flatscreen TVs, iPod docks, wireless high-speed Internet, in-room coffee makers, and private bathrooms. Room rates range from $199 to $349 per night.  

Repairs to the inn’s aging bulkhead are also in the works as part of the renovation process, Kontokosta said. The condition of the bulkhead has deterred Suffolk County from dredging Cases Creek, for fear that the county would be liable if the bulkhead were to collapse during a dredge. Cases Creek has not been dredged in seven years, which has caused problems for boaters getting in and out of the creek.

“We’ve hired a consultant to help us put together all of the permits applications to various agencies — the DEC, the Army Corps … there are many — in order to repair the bulkhead,” Kontokosta said. “I’m confident that dredging will happen after the project.”

Cove Place Inn is located at 15 Bay Avenue in Aquebogue. Call 631-722-3212 or go to www.coveplaceinn.com.