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JAN 25, 2013 1:42pm ET

Advisory Group Marketing Bankrupt New York Golf Club

JAN 25, 2013 1:42pm ET
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GA Keen Realty Advisors, a division of Great American Group, is selling the National Golf Club in Riverhead, N.Y. through a bankruptcy sale process.

The 6,838-yard public golf course located in the heart of Long Island’s east end wine country, just minutes away from the world-famous “Hamptons,” was created by Robert Trent Jones, Jr. to take advantage of rolling hills, dramatic elevation changes and a mix of traditional design elements.

Prospective buyers can acquire not only the 18-hole links-style course, but also its pro shop and grill and clubhouse with a full-service restaurant.

Besides golf, the 150-acre site is also suitable for residential development pursuant to its current zoning designation, GA Keen Realty Advisors said.

“While many golf courses have seen revenues decline over the past few years, Long Island National Golf Club has maintained its profitability,” said Matthew Bordwin, co-president of GA Keen Realty Advisors. “The course’s success, masterpiece design and location among scenic farmlands and vineyards make it a highly desirable purchase for buyers and investors. Further, the beauty of the Long Island’s east end, specifically the north fork’s wine region, makes this a terrific residential development opportunity as well.”

All acres of the site, including the property and facilities, are being marketed by the New York-based advisory firm as part of a bankruptcy sale and offers are now being considered.

REO