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Brokerage
Posted: January 11, 2022
Muroff Hospitality Group brokers sale of two Upstate resorts for $9.25 million total
Diamond Point, NY The Muroff Hospitality Group handled the sale of two resort properties for a combined sale price of $9.25 million.
The Flamingo Resort on Lake George, located at 3914 Lake Shore Dr., sold for $6.5 million. The seller was Flamingo Resort Holding LLC and Flamingo Lake George, Inc. The buyer was 3914 Lake Shore Drive, LLC. Mitch Muroff of Muroff Hospitality Group represented the seller and secured the buyer in an exclusive listing.
The Flamingo Resort has been family owned for nearly 65 years, and the sellers were successful in finding a buyer that would continue their legacy of maintaining a traditional family resort. The 4.63-acre property features 59 one-, two- and three-bedroom cabins, most with full kitchens, in addition to an owner’s home. Other features include a private sandy beach, two full-size heated swimming pools and a marina boasting 17 docks and five charter boat licenses all with views of Lake George.
Country Cottages & Motel, located at 31 Vito Rd., sold for $2.75 million. The seller was Country Cottages & Motel, Inc. and Ceaser and Virginia Portes. The buyer was Country Cabins LLC. Muroff represented the seller and secured the buyer in an exclusive listing.
The Country Cottages & Motel resort has been family owned for nearly 30 years, and the buyer will continue its legacy of maintaining a traditional family resort. The 3.38-acre property features 17 private cottages (one-, two- and three-bedroom cabins with full kitchens), four motel rooms in addition to a 3600 s/f private residence. Other features include a heated swimming pool, children’s play area, fitness center and veranda; all in a lush setting with glorious views of the Adirondacks.
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