The Thames Street Landing complex home to a waterfront hotel, two restaurants, docks, shops and small businesses sold to new owners for about $8.5 million on Wednesday.

The 1.7-acre property at 267 Thames St., Bristol, officially sold for $7,482,000, with the Bristol Harbor Inn business selling separately for about $1 million.

The new owners are registered as TSL LLC, a corporation under the umbrella of Goldstein Associates, a firm owned by brothers Gene and Larry Goldstein. Goldstein Associates owns and manages properties throughout the Northeast that include outdoor shopping plazas, a mall, independent retail stores and numerous hotels.

The have an ongoing relationship with Newport Hotel Group, which is taking over management of the Bristol Harbor Inn.

The Sept. 9 sale includes all land and buildings in the Thames Street Landing complex, which was renovated about 15 years ago by investors who transformed a tired industrial wharf into a downtown Bristol destination. Owner Lloyd Adams and his partners built the hotel, shops and restaurants while preserving much of the 200-year-old warehouse now home to DeWolf Tavern.

The DeWolf Tavern business did not transfer in the sale and will continue to be managed by Lloyd and Sue Adams. Mr. Adams could not be reached for comment Wednesday, nor could the principals of Goldstein Associates.

The Newport Hotel Group is a second-generation family business run by brothers Jon and Douglas Cohen. They got their start at the Hotel Viking in Newport, which their father bought in the 1970s. Both brothers worked in the hotel business from a young age.

Today, Newport Hotel Group manages more than a dozen hotels in six states. They include Teton Village in Wyoming, North Conway Grand Hotel in New Hampshire, and three properties on Cape Cod — the Ocean Mist Beach Hotel and Suites in South Yarmouth, the Hyannis Harbor Hotel in Hyannis, and the Inn on the Square in Falmouth.

Jon Cohen said their speciality is managing independent hotels in seasonal resort destinations. Bristol Harbor Inn fits that identity perfectly, according to Mr. Cohen. He said they typically market the hotel and the location together.

"We really focus on marketing the destination," Mr. Cohen said. "We want people to understand that Bristol is a great place, and it's got all these great things going on in it, and by the way, they've got a great hotel, too."

He said they love the location at Thames Street Landing. "I think it's a beautiful setting, sitting there on that wharf overlooking the harbor," Mr. Cohen said. "The town and developers did a really tasteful job redeveloping that from a working wharf to what it is today."

Nevertheless, there will be some changes. Mr. Cohen said Newport Hotel Group plans to renovate the hotel and all its rooms. He also mentioned overall lighting at the complex.

"This is just a personal observation … The lighting is good, it's safe, but it's not as energetic as it could be. We'd like to create a little more energy at that site."

The hotel has 40 rooms. There are currently no plans to expand or change that footprint.

Mr. Cohen said they also like the fact that the  hotel is pretty young. "The property is pretty close to new, so it's generally in very good condition," he said. "We like the mix of amenities at the site. The restaurants, the bike path termination, the Gray's ice cream stand … they all work well together. We really want to tell the story of that location more effectively."

A separate parking lot across the street from the complex, known by most as the lot behind the town's public library, also transferred in the sale. Before it did, the Town of Bristol waived a right of first refusal to purchase that property.

Miles Ave. Property Co., including Mr. Adams and partners Daniel Wightman and Raymond Yin Dan, were represented in the sale by Brian Clark of William Raveis.

Goldstein Associates lists among its properties the Home Depot shopping plaza in Middletown, the Banana Republic location in Newport, the GAP location in Providence, the Marriott Courtyard in New Haven, Conn., and the Berlin Mall in Berlin, Vt. They also own numerous CVS locations throughout the Northeast.