That is an interesting location. I've heard good things about the Pearl Hotel across the street (they do dive-in movie nights at the pool), but I haven't heard of this place and I work around the corner.
If anyone does decide to stay there I recommend walking over the Mitch's Seafood and getting fish tacos for lunch and sitting on the deck watching the fishing boats coming in. Watch out for the seagulls though; they are no joke! Eppig Brewing and Ketch near Shelter Island are both good locations for a beer or 3. Finally, Supannee House of Thai down the street is really good and cheap.