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Posted: January 13, 2014
Perfit of Cushman & Wakefield/Pyramid Brokerage Co. sells Kutshers Resort for $9 million
Steve Perfit, senior executive director with the Hudson Valley office of Pyramid Brokerage Company, a Cushman and Wakefield Alliance Member, closed on the sale of Kutshers Country Club and Resort, located at 1 Kutsher Rd., on 1,325 acres and 21 parcels for $9 million. The purchaser, Veria International, is owned by billionaire Indian Media Mogul, Subhash Chandra, who intends to re-furbish and re-purpose the resort and adjacent properties into a world class health and wellness center. The total project cost will be in excess of $90 million. Assisting Perfit and working with the buyer was Lynn Keller also an agent and real estate salesperson with Cushman and Wakefield/Pyramid Brokerage Company's Hudson Valley office in Newburgh. As an inducement for the sale, the Sullivan County Industrial Development Agency provided an attractive incentive package, which included partial real estate tax abatements through a 20-year PILOT and sales tax abatement.
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