A Big Day In Schroon Real Estate!!!

The new owner of the Schroon Tavern is described as a “mysterious buyer, from out of town”.

“The general consensus was that he purchased the property in order to make a quick profit and flip it,” a source told SchroonLaker.com Wednesday night.

How much did the Tavern sell for? The new owner of the Schroon Lake Tavern -- if approved by Essex County – paid just $57,500 for a property  -- worth at least four times that amount, according to various real estate sources SchroonLaker.com spoke with.

The property, which sits next to much beloved Schroon Lake Bed and Breakfast, was one of 106 properties snapped up today at the Essex County Foreclosure Auction.

The winning bid came late: “He  only raised his number once – to snap up the property after five or six bidders dropped out," according to our sources.

While the property may seem like a bargain, there are several issues that the new owner will be forced to deal with.

There is substantial water damage in the Tavern’s basement, including visible black mold. The tavern's current configuration as a commercial property forbids sleeping quarters.

Bobcat Sports -- Schroon's local bait shop -- avoided the auctioneer’s hammer, after an agreement was reached to pay back taxes.

Around 300 folks packed the ballroom at the Best Western at Ticonderoga for the auction, run by three well respected companies:  Haroff Auction and Realty of Schroon Lake, who teamed up with Absolute Auction and Realty of Pleasant Valley to sell 106 parcels up for grabs.

Our sources tell us that there were bargains galore, as auctioneers Greg Frederick, Frank Peterzack and Rob Doyle took turns, with rapid-fire bidding from audience members who had signed up in advance and those who had placed bids on the internet.

“Most properties sold for less than 10 per cent of the assessed value,” our source told us.

“Some folks picked up property and housing for a few thousand dollars.”

UPDATED ON TUESDAY, MAY 6, The main attraction for most folks was the old Frontier Town Theme Park in North Hudson. Frontier Town went for $49,500. The bidder was #74, The 0.70 acre property on Blue Ridge Road went to the same bidder for $7500.

Schroon Laker.com has learned that the abandoned gas station – part of the Frontier Town property -- was snapped up by  Muhammad Ahmad and Zohabe Shahid, the current owners  of the Sunoco Gas station on Route 9, right off route 74. The price: $130,000.

Did you attend the auction? What are your thoughts and feelings about what went down?

Own Your Own Piece Of Schroon and Beyond

Bobcat Sports

Bobcat Sports and the Schroon Lake Tavern are the two big commercial properties in Schroon to be auctioned off at an Essex County tax foreclosure auction.

And Frontier Town, the iconic western amusement park in North Hudson -- that once attracted hundreds of thousands of visitors over four decades -- is also up for grabs.

Frontier Town

The properties and parcels of land will go under the hammer April 30, 2014, at the Best Western in Ticonderoga. The auction will be run by Schroon Based Haroff Auction and Realty.

Among the properties in Schroon are a recently built home with water views near the hamlet of Adirondack -- with deeded access to beachfront (which you must purchases with the home as a separate lot) --   and an odd triangle shaped half acre parcel (which is land-locked) off Charley Hill Road near the south bound lanes of I-87.

Perhaps the jewel of the auction in Schroon could be almost 6 prime acres on the Schroon River.

Frontier Town will be divided into four parcels, the largest being the 88 acres where the main park once stood. Its assessed value is $568,900. Another Frontier parcel includes a Frontier Town motel on 28 acres.

There are no minimum bids at the auction, but all purchases have to be approved by Essex County. You can down load or browse the entire catalogue by clicking here, or vist the Haroff website here.

The Tavern At Schroon Lake

The property is one approximately 120 in the Essex County Tax Foreclosure Real Estate Auction that will be sold by the Schroon Lake based Haroff Auction Company, according to company President Linda Haroff.

It is the first auction since company founder Ed Haroff passed away unexpectedly in January.

The tavern has been shuttered for more than five years after its former owner, Mark Casolo, was accused of defrauding multiple clients of millions of dollars while working as an investment banker in an elaborate Ponzi scheme.  In March of 2013 Casolo, from Voorheesville, was sentenced to 5 to 15 years in prison on the 12 counts of grand larceny he faced for stealing $2.2 million, according to a report from ABC News 10.

The auction consists of lots, acreage, camps, homes and commercial properties The entire list of properties will be available online go online this coming Sunday, at the Haroff website, which you can access by clicking here.

Another Schroon Landmark Restaurant Up For Grabs

Witherbee’s Carriage House is on the market!

Just a week after Schroon Laker learned the Morningstar Bistro -- another Schroon Landmark was seeking new owner -- Patty and Bill Christian are selling. A popular watering hole for locals, second home owners and the Summer People, Witherbee’s is known for its Open Mic Night every Thursday, its big ass steaks, fine prime rib, numerous fundraisers, the annual "Bayou Bob" Crawfish Boil and the place where North Country Rock and Roll calls home.

The sale was announced in a listing on Craigslist.

“Landmark Schroon Lake Restaurant. The only continuously running restaurant for over 40 years within 50 miles! Gorgeous converted Carriage House with 3 dining rooms, renovated kitchen, new walk-in cooler and freezer, new heating systems, 2 fireplaces, new roof, new heating system, etc...... Also 3 Brand New rental cottages with approval for up to 30 cottages.... Plenty of Growth Potential! Well established clientele. Make your offer before the busy summer season!”

The asking price is $995,000.

Patty and Bill have owned Witherbee’s for more than seven years. It was originally a barn which housed horses, part of the defunct Edgewater Resort -- across the road. It began life as a restaurant in the 1960s under the name Witherbee’s, before it became Terrio’s for 28 years. When the Christians purchased the restaurant they restored the original name.

Witherbee’s is a part road-house, bar, restaurant and living history museum. The walls and ceilings are adorned with items from a bygone era in the North Country: from every imaginable tool, to old signs, milk jugs, snow sleds and antique farming equipment.

What are your memories of the fun times you've enjoyed at Witherbee’s? Tell us in comments.