Garnet Hill Lodge up for sale (again) - $2 mil

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Made it off-the-grid?

I was interested till I saw there's an in-ground oil tank.  That's likely an environmental disaster waiting to happen.

Adk Jeff wrote

I was interested till I saw there's an in-ground oil tank. That's likely an environmental disaster waiting to happen.

Dig it up and put a new one in, if the law allows. Or denude the surrounding forests like they did in the late nineteenth century. That is a ton of amazing real estate for the asking price. Hell, there are many homes in my hood going for 1.5 to 2 mil. Kinda puts the whole Tupper pricing into an embarrassing perspective. If I was rich, and so inclined, I would consider that a bargain in today's world. Lots of costs, annually, but, man, what a classic spot. Iconic. I wonder what the taxes are, if one decides to shut it down as a business and just live there. Well, part time.

I suspect they would go up considerably. The lodge is only appraised at $425K which if it were a house would be appraised much higher. My guess is that they appraised it low to help the business out.

A new arrangement might be a bit different this time.

Special place in my heart for GHL.

Jeff, I'd like to continue on in the digital marketing department if OK with you.

As long as the tank is smaller than 1100 gallons, there is no DEC jurisdiction. Buried tanks are still very common in this area.

PeeTex wrote

I suspect they would go up considerably. The lodge is only appraised at $425K which if it were a house would be appraised much higher. My guess is that they appraised it low to help the business out.

You are talking about the "assessment" not an appraisal. An assessment is set by the local tax assessor, an appraisal has to be performed by a NYS licensed appraiser. And I can assure you that our tax assessor is NOT helping anyone out!
The Town of Johnsburg, needs a town-wide revaluation of taxes, as there are many many assessments that are way off, low and high. The cost of town-wide revaluation has been discussed by the town board, bu the cost of it, has always been the deterrent.

Regardless of DEC jurisdiction, you'd still want to have the tank tested for tightness and the soil tested for contamination.  I would guess that a bank might require that testing.  Even if everything checked out, you still might want to have the tank taken out of service.  Last thing you want is to discover that your heating oil consumption seems a bit high because half of the last couple deliveries seeped into the ground when the tank rusted through (or rock poked through or buried supply line failed etc).

Visited this summer with the kids----we tried relaxing on the front deck in Mid-July but the black flies made it impossible.    I love this place.  


Upkeep is the big issue, I am sure.  

Adk Jeff wrote

Regardless of DEC jurisdiction, you'd still want to have the tank tested for tightness and the soil tested for contamination.  I would guess that a bank might require that testing.  Even if everything checked out, you still might want to have the tank taken out of service.  Last thing you want is to discover that your heating oil consumption seems a bit high because half of the last couple deliveries seeped into the ground when the tank rusted through (or rock poked through or buried supply line failed etc).

Well having the tank pressure tested is a no-brainer. 
But as I said, buried tanks are common up here, and banks do NOT care where your tank is. Double wall tanks are still sold at most plumbing wholesalers, and that is because people actually still buy them.

Fair enough.  Just a red flag that a potential buyer might raise. If it's a modern, double-wall tank, probably not an issue at all.