Hidden Valley Club, N.J., Doesn't Sell at Auction
SAM Magazine--Vernon, N.J., October 2, 2013--UPDATE: After announcing an auction for October 1, Hidden Valley remains unsold after no-one bid on the resort. According to The Star-Ledger, bidding was expected to start at $2.75 million (an amount that would cover debts and fees). The auction house is still hopeful that someone will make an offer. In the meantime, it is researching other uses for the 140-acre parcel.
The description on auctionadvisors.com, says, "Established in 1976, Hidden Valley is a premier ski resort located on 140± acres in Vernon, NJ. The property has over 25,000±sf of improvements including a main lodge, rental and maintenance facilities, and much more. All furniture, fixtures, equipment, trade names, goodwill and other rights as well as a bar/restaurant with liquor license is also being offered as part of the sale. The property is less than an hour’s drive from Manhattan and has been catering to a steady clientele since it was founded."
According to NJ.com, the auction was a result of a state court liquidation proceeding. The resort was bought in 2007 by a group of investors who planned on expanding the area. As financing dried up, the resort shut its doors at the end of last season.
The auction company claims that resort is ready for operation, with snowmaking and lighting in place.