Vote looms on sale of Catskill Golf Club - Columbia-Greene Media: News

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Vote looms on sale of Catskill Golf Club

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Posted: Saturday, February 1, 2014 1:00 am

CATSKILL — Persistent rumors that the Catskill Golf Club may be sold have materialized into fact.

The proposed sale will be voted on at a meeting of club stockholders on March 2, 10 a.m., at the clubhouse on Brooks Lane.

Technically, it’s to vote on a Board of Directors resolution “to liquidate and dissolve” the club, “by sale of all assets, repayment of all debts, (and) retaining funds necessary to wind down the affairs of the corporation.”

The sale of its assets are proposed to go to David Vipler, of NYC-based Vipler Realty LLC, and to “an investor group to be known as the Catskill Golf Resort LLC.”

Vipler, who is from Catskill, founded his realty business here in 1971, and today, from his 1st Ave., Manhattan, offices, continues active sales in Greene County, while maintaining a second home in the town.

According to the New York State Department of State, the name Catskill Golf Resort, LLC, was filed with its Division of Corporations last Friday, Jan. 24, and the address for it is to the attention of Vipler, at his Catskill residence.

The property consists of three parcels — the main 137-acre parcel, which runs on both sides of Brooks Lane and includes both the links and the clubhouse, plus two small two-acre parcels, one on its east boundary and one on its southeast boundary, with both bordering Vosenkill Road.

Current listings at the Greene County Records Room state the big parcel has a full market value of about $2.23 million, with an assessed value of approximately $1.3 million.

The two small parcels are each about $30,000 at full market value, with assessed values of $17,500 each, yielding a total full market value for all three properties of about $2.3 million, and a total assessed value of $1.35 million.

The proposed purchased price is $800,000 cash, contingent upon clear title being provided for all three parcels, plus a 3 percent brokerage commission to Vipler Realty for bringing about the transaction.

Records at the Greene County Treasurer’s Office show there are no past years’ taxes in arrears for any of the three parcels.

There is also a third contingency, which is that the purchase will “include lands, buildings and improvements, pool, tennis court, name, good will, website, maintenance equipment, restaurant equipment and supplies, and all assets as outlined” in an Oct. 31, 2013, balance sheet — the date of which thus perhaps indicates, at a minimum, how long this has been in the works.

All terms are also subject to stockholder approval.

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To reach reporter Jim Planck, call 518-943-2100, ext. 3324, or e-mail jplanck@thedailymail.net.

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