Gazette Ceases Publication: Donates Archives to LHS

In 2010, the Larchmont Gazette ceased publication. In 2011 the publishers donated all contents to the Larchmont Historical Society, which will continue to make the Gazette archives available online.

All inquiries should be addressed to the Larchmont Historical Society.

4 comments - (Comments closed)

Hampshire Club Wants Quick Sale, $14.9M

$14.9 million is the asking price for Hampshire Country Club on Cove Road in Mamaroneck, according to a January 28 release from C.B. Richard Ellis, the brokers retained to represent the club’s board of directors.

The club ceased operating in mid-December after a steep drop in membership, and its directors began seeking a buyer.

Stan Brettschneider, Hampshire board president, said the club is not in bankruptcy (as had been reported elsewhere). However, the directors are focused on “taking care of the asset, making sure we can sell-off the asset and moving forward.” (See: Mamaroneck Looks at Buying Hampshire Country Club.)

His group has begun negotiating and reaching out to interested parties, both public and private. This week, they hired brokers William V. Cuddy, Jr. and Budd Wiesenberg from C.B. Richard Ellis to help with the process.

What Do You Get for $14.9M?

The $14.9 million price tag includes the 116 acre property, complete with an 18-hole golf course, club house, 7 tennis courts, and an  outdoor heated pool overlooking Long Island Sound. The club is surrounded by the upscale residential neighborhoods of Orienta Point in Mamaroneck Village and Hommocks Road in Mamaroneck Town.

According to the brokers’ release, the golf course was designed by Devereaux Emmet and built in 1927. The club was organized in 1944 as a private, member-owned entity.

“We did a complete golf course renovation, ending in 2002,” said Mr. Brettschneider.  And the club house, pool house and tennis facilities were upgraded from 2004 to 2006.

“A property of this magnitude rarely comes on the market and will appeal to a variety of purchasers, including private or public clubs, golf course operators, municipal uses, schools, and residential development,” stated Mr. Cuddy. “We are seeking the right buyer to take advantage of all this unique property has to offer.”

A Quick Study for Municipalties

“They are seeking what their fiduciary responsibility is to seek – the highest price possible.” said Mamaroneck Village Mayor Norman Rosenblum when apprised of the club’s asking price. “The Village/Town will do our due diligence to determine what the property is worth and use that as a basis to go forward.”

In recent weeks, Mr. Brettschneider has been in direct conversations about the future of the club with Mr. Rosenblum and other  officials from Mamaroneck Village and Mamaroneck Town.

Town Supervisor Valerie O’Keeffe declined to comment on the announced price, but earlier in the week she said, “The Village and Town are moving along to do a study of the different alternatives for the property.”

Officials are being “bombarded with emails,” said Ms. O’Keeffe. “People have a lot of creative ideas, but we need to sit down and digest them.”

Digestion, however, may have to occur swiftly. The Hampshire board is in a hurry to unwind its responsibilities.  “Most of us “got into this for social reasons,” said Mr. Brettschneider, “We never thought we’d be facing the closing of an institution that had been here 65 years.”

“Hopefully we can work with [the club] on a mutually agreeable proposal,” said Town Administrator Steve Altieri . ‘We know we have to work within a time frame that’s suitable for the club,” he added.  “We have to work quickly.”

“I don’t think anything is being excluded,” said Mr. Altieri, “A  public-private partnership is possible.”

Finding the Money

If the municipalities were to buy the club – at whatever price they can negotiate – the money could come from a number of sources.

“Depending on how we finance it, it could be bonded, it could be a mix of bonds and donations, or there could be grants,” said Mr. Altieri. The process would be aired at public hearings and any bonds would be subject to permissive referendum, he added.

“We’re doing a lot of homework,” said Mr. Altieri. “It’s exciting.”

PrintFriendlyTwitterGoogle GmailYahoo MailShare

Related Articles:

4 comments to Hampshire Club Wants Quick Sale, $14.9M

  • rosita fichtel

    Hampshire is a beautiful property, but what is the bottom line liability to the taxpayer? In addition to the cost of purchasing the property, how will maintenance of the golf course, 7 tennis courts, buildings and equipment, and personnel costs (salaries and benefits) be funded? If the club could not attract or keep enough membership to support the club’s financial viability, how does the Town and Village of Mamaroneck propose to finance these costs…more taxes? With the economy in such a precarious state and school taxes going up, can we afford another new tax? Before a decision is made, an in-depth, short and long range analysis must be done, and presented to the taxpayers.

  • Tom Murphy

    I agree with Ms. Fichtel that purchasing this property requires careful long range planning. Do the local governments really intend to buy this property to run a golf course? Is that the best recreational use of the land? Can more people access the land and enjoy it if playing fields are built? Should some portion of the property be developed for residences to mitigate the effect of taking so large a piece of property off of the tax rolls? Should the property be bought by the Town and have the expense be a Town wide assessment?
    Hopefully our elected officials will explore these questions and the myriad of other issues that can arise from such a huge commitment before rushing into a purchase of the club. But it is obviously an opportunity that should be fully explored.

  • a few questions

    First question on the assessment of the price. 14.9M seems a bit steep for a land in a flood zone next to a school that I am sure is not zoned for any residential or business use. SO the value depends on the zoning, the zoning depends on the local govt, they have all cards in hand including TIME. This beautiful piece of land is hardly used, is a nature preserve in all but name, we can walk, run, cycle through it, there are no risks of any kind in DOING NOTHING and letting the sellers come to their senses. By the way, looks like selling it as a club (which would not be an issue, presumably) is going to be a tough sell too, clubs are not making money in this economy and this neighborhood (no water access). I understand that advisors and lawyers and consultants are already salivating at the hope of extracting fees from small-town officials who don’t know better. Any analysis should NOT start with the preconception (already expressed by small-town officials) that the public NEEDS TO OWN THIS. It should have all options including “do nothing”.

  • Richie W.

    Given the dearth of low to middle income housing in the area, I would love to see consideration given to developing the Hampshire property into low or federally subsidized (Section 8) housing. Let us all consider our less fortunate citizens.