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ABSOLUTE AUCTION: August 18th, 18-Hole Course
1793 Northville Turnpike, Riverhead, NY 11901
N/A
10,000 SF
Sport & Entertainment
Golf Related
Vacant/Owner-User
Yes
2%
-
Last Verified 10/23/2009
Listing ID 16289836
Description
Absolute Auction - Sells Regardless of Price
Peconic Bay Golf, LLC, With Leasehold Interest In & To
18-Hole Championship Golf Course
Details:
1793 Northville Turnpike, Riverhead, New York 11901
Currently Operating as "Long Island National Golf Club"
Designed by Renowned Golf Course Architect Robert Trent Jones, Jr.
Peconic Bay has Long-Term Leasehold Interest in Property:
Expires in 2037 (plus (2) ten year renewal options)
Rent Paid as Percentage of Gross Rent (5%)
18-Hole Championship Golf Course Currently Operated/Sub-Leased by American Golf Corporation:
Long-Term Lease Expires in 2034
Early Termination Clause in January 2010 (cancelable by either party)
Rent consists of a Minimum Rent (currently $1,000,000 per year) and Participation Rent (currently zero)
Potential Future Operation of Golf Course by Successful Bidder
Auction Date & Time: Tuesday, August 18th at 11:00 am. Registration begins at 10:30 am.
Auction Location: Sells at the office of the Auctioneer; 155 Terminal Drive, Plainview, NY 11803.
Terms & Conditions of Sale: Sold subject to all liabilities. In order to register to bid, all prospective bidders must present a certified check in the amount of $300,000 made payable to "David R. Maltz & Co., Inc.". This sale is subject to a flat buyer's premium in the amount of $80,000. This amount will be added to the high bid to formulate the contract price. Please download the complete Terms and Conditions of Sale.
Buyer Broker Participation: A two percent (2%) commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.
Map of 1793 Northville Turnpike, Riverhead, NY 11901 (Suffolk County)
Created 6/23/2009
Additional Information for 1793 Northville Turnpike, Riverhead, NY 11901
- Active For Sale - 0 Listing
- Active For Lease - 0 Listing
- Previously Listed - 1 Historic Listing
- Sales Comparables Available - 0 RecentSales Record
View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.