Hampshire Country Club has been sold for $12.1 million and as we reported before, the town and village of Mamaroneck are not the winning bidders.
Instead, NWR Acquisitions LLC, a Manhattan based real estate firm, will take over the property with plans to continue running it as a country club.
Club president Stan Brettschneider confirmed the sale with me today and expects to have the deal completed by June.
The 108-acre private club in the affluent Orienta neighborhood along the shore closed in December because of declining membership. The 108-acre property had a marketed price tag of $14.9 million. The town and village of Mamaroneck had expressed interest in jointly purchasing the club but weren’t at the top of the club’s list of prospective buyers.
Brettschneider said the club was willing to go lower on the asking price because the $12.1 million will still cover all the expenses the club needs to execute the sale, such as paying back bank loans.
He said the main reason the club didn’t prioritize the town/village’s bid was because Hampshire wanted to move “sooner rather than later” on a deal. With all the reports about vandalism going on at the club now that it’s empty, Brettschneider said the town and village couldn’t move as fast as other bidders, because the municipalities would have to go through extensive hearings and public meetings before it could make a move on the property.