In 1926, automotive and real estate pioneer and promoter Carl G. Fisher, who is credited with the successful development of Miami Beach, Florida, began working on a “Miami Beach of the north”. His project at Montauk was to provide a warm season counterpart to the Florida development, near Manhattan. He and four associates purchased 9,000 acres (36 km²) and built a luxurious hotel, office building, marina, and attractions. The project built roads, planted nurseries, laid water pipes and built houses. However, the Stock Market Crash of 1929 cut short the promotional efforts, and the project went into receivership in 1932. In modern times, Montauk remains a small but popular tourist destination.
Near Montauk there is an abandoned military radar facility called Camp Hero, now part of Camp Hero State Park. A popular urban legend says the base was home to the Montauk Project, in which time travel was achieved.