Hello Mount Riga Community:
Kaye Camp Auction: Mount Riga, Inc. has engaged Gary Murphy, of Downey Haab & Murphy, Millerton NY, as its 3RD Party Agent (“Agent”) to conduct two Sealed Bid Second Price Auctions with transaction fee, for the two seasonal camps, known as the Kaye Camps, in late April/early-mid May 2022. The camps are located at, respectively, 599 and 607 Grassy Pond Dr., in the Town of Northeast, Dutchess County, NY.
The Red Camp and the New Camp will be auctioned separately, in auctions conducted approximately 7-14 days apart. Only buildings are being auctioned. The successful bidder for each camp will execute a ground lease (expires 12/31/2036) for land under the camp building(s), with an option for a 15 yr. renewal. The successful bidder is responsible for shared upkeep on Grassy Pond Dr., and for real estate and school taxes on the camp buildings.
• Red Camp (599 Grassy Pond Dr.): minimum bid: $650,000. Initial rent @$24,000, estimated transaction fee: $12,000.
• New Camp (607 Grassy Pond Dr.): minimum bid: $550,000. Initial rent @$19,000, estimated transaction fee: $12,000.
Interested parties must be pre-qualified by the Agent to become a Qualified Bidder. The Qualifications, as adopted by the MRI Board of Directors are attached. Only bids from Qualified Bidders will be considered. If you are interested in being considered as a Qualified Bidder, please contact Mr. Murphy as soon as possible and no later than NOON EDT April 8, 2022 (phone: 518-789-4442; fax: 518-789-3968; email: [email protected] ; PO Box 663, 87 Main St, Millerton, NY 12546) to request a Qualifying Bidder Sheet which you must fill out and return to him ASAP in order for him to determine if you qualify. Please contact Mr. Murphy, Anne Williams ( [email protected] ) or David Warner ( [email protected] ) with questions.
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