Tupper Lake and ACR

raisingarizona wrote

I don't know anything about Tupper but after reading the articles and posts on here it seems like a real shot in the dark. My main question is are there really people interested in buying property there?

Here's a sampling of properties currently listed for sale in the $1 to $5 million range.  These are the properties that would be competing with the ACR Great Camps for buyers.  Many are trophy lakefront properties.  Who would buy into Tupper Lake (and the ACR Great Camps are not even on the lake) at $1 to $5 million when you could buy one of these instead:
Merrill Thomas Real Estate, Adirondack Waterfront Properties

PS - Check out the Watch Rock Point property.  It's absolutely gorgeous and includes 90 acres, a half mile of lakefront on Long Lake and a guideboat and Chris Craft I could drool over. All for just $2.75 million.

Watch Rock looks amazing!

Adk Jeff wrote

raisingarizona wrote

I don't know anything about Tupper but after reading the articles and posts on here it seems like a real shot in the dark. My main question is are there really people interested in buying property there?

Here's a sampling of properties currently listed for sale in the $1 to $5 million range.  These are the properties that would be competing with the ACR Great Camps for buyers.  Many are trophy lakefront properties.  Who would buy into Tupper Lake (and the ACR Great Camps are not even on the lake) at $1 to $5 million when you could buy one of these instead:
Merrill Thomas Real Estate, Adirondack Waterfront Properties

PS - Check out the Watch Rock Point property.  It's absolutely gorgeous and includes 90 acres, a half mile of lakefront on Long Lake and a guideboat and Chris Craft I could drool over. All for just $2.75 million.

Absolutely right Jeff.  Also check out www.adkpp.com (Adirondack Premier Properties in Lake Placid). Check out the listing labeled "Sunset Bluff Camp" on Tupper Lake. 3500 Sq Ft, built 2001, Custom home, 2 story boathouse, 256 ft waterfront, over 9 acres, listed for just under $2.5 Million.  

And the place next door to this one sold about a year and a half ago for $2 million and if was even bigger. 6000 Sq Ft, 856 ft of waterfront, 20 acres, also built about 15 yrs ago.  The new owners put in a boathouse and spruced up the main house(not that it was needed) and have put it back on the market for $3.5 million which would still be a much better investment than any of the ACR great camp lots in the woods(with no services or roads)

Well I must say I wasn't expecting this:

http://www.northcountrypublicradio.org/news/story/28388/20150515/breaking-golfing-legend-reportedly-backs-adirondack-club-and-resort

WOW.....is that a joke???

Talk about DEEP pockets. That totally amazes me.

Harvey wrote

Well I must say I wasn't expecting this

Actually it's not that big a surprise, the guy had been up to tour the ACR (or more specifically tour the property where the ACR might someday be sited) just a month or two ago.  So I think people were expecting he might end up having some involvement.  We'll have to see whether his involvement is just as a Great Camp purchaser or as an investor in the project (and obviously at what level of investment).
It's funny to me when people say "golf legend" because I never heard of the guy.  Shows what I know about golf.

He is a legend, great golfer, better choker.  If someone like him had 30 million they could dump into a project and let it sit there for 20 years I think it could work.  Ultra rich have to park there money somewhere to.  Could you imagine?

At least you noticed when bro was in town.  I think Norman is the greatest golfer who was never truly great. Or something.

I still say... I wasn't expecting it!

tjf1967 wrote

He is a legend, great golfer, better choker.  

This ^^^^^

He makes great wine, has a really cool helicopter and his daughter is SMOKIN!!  

Greg Norman was #1 on the PGA tour off and on for about 10 years in the 1980s and early 1990s. When he divorced his first wife in 2006 her part of the settlement was $105 million. This guy has big bucks and is well versed in RE development around golf courses and has multiple different businesses. Lawson and Norman seem to be friends from FL. It is not clear if he is just a guy building a house and/or an investor/advisor to the project. For all we know, they might have given him a lot in order to use his name.

The consensus has always been that they will be able to sell the 20 (+ or -) "camps". It is the rest of the project that will be almost impossible to sell.

The Canadian dollar is $.83US today.

tjf1967 wrote

He is a legend, great golfer, better choker.  If someone like him had 30 million they could dump into a project and let it sit there for 20 years I think it could work.  Ultra rich have to park there money somewhere to.  Could you imagine?

When Durant built the first great camps it was a dream, he had to sell to Huntington and J.P. Morgan for little to no profit, same with his second try and the sale to Vanderbilt where he actually sold at a loss because he was strapped for cash. The super rich didn't get wealthy by making bad investments, they bought when the seller had to sell. I would not be surprised if history isn't repeating itself in that this buyer is getting a great deal to help jump start the project and you only need to be a student of history to know the rest of the story.

i think you may be close to the reality there Pee Tex , Lawson et all must be getting close to the line financially by now . this thing has been dragged out in process and the legal beagles must have chewed thru a helluva lot of cash ... Time will tell.

For that kind of money, I'd have to be lakeside.