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Golf Course Facility and Related Assets in New Jersey
Listing Information
Attachments
Golf Course Facility and Related Assets in New Jersey
Price: $3,000,000.00
Other Item Info
Item #: njbke_1066385
Created: 08/22/2020
Category: Business Property > All Assets or Going Concerns > Travel & Leisure
Sale Date: Wed. Sep 9, 2020
Created: 08/22/2020
Category: Business Property > All Assets or Going Concerns > Travel & Leisure
Sale Date: Wed. Sep 9, 2020
Seller Info
Timothy P. Neumann
Debtor's Attorney
25 Abe Voorhees Drive
Manasquan, NJ 08736
732-223-8484
Debtor's Attorney
25 Abe Voorhees Drive
Manasquan, NJ 08736
732-223-8484
Bankruptcy Info
Case #: 3:20-bk-17229
Case Title: Sea Oaks Country Club LLC
Court: New Jersey Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Sea Oaks Country Club LLC
Court: New Jersey Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all of assets of Sea Oaks Country Club, LLC (“Country Club”) and Sea Oaks Golf Club, LLC (“Golf Club”) (collectively, the “Sellers”). The sale assets including the Liquor License; the Real Property, Improvements, furniture, fixtures, inventory, equipment and other personal property and intangibles owned by the sellers, and more described as below:
- Golf Club owns the real property commonly known as 99 Golfview Drive, Little Egg Harbor, Ocean County, New Jersey situated in the Township of Little Egg Harbor, County of Ocean, State of New Jersey, and designated on the Official Tax Map of the Township of Little Egg Harbor as Block 191.03, Lot 154 (155.585 acre golf course), Block 191.03, Lot 154.03 (4.421 acre parcel), and Block 190.09, Lot 44 (30.18 acre property located on Railroad Drive), together with all Improvements and Appurtenances (together, the “Real Property”);
- The Real Property is improved with an 18-hole golf course, a clubhouse, half-way house, maintenance building, banquet hall, inn and business office (the “Improvements”);
- Golf Club also owns 1 motor vehicle, golf-related equipment and, computer equipment, and much of the personal property located on the Real Property, including, but not limited, to furniture and fixtures (together with the Real Property and Improvements, the “Golf Club Assets”); and
- Country Club owns the following assets: a plenary consumption retail liquor license issued by the State of New Jersey through the Township of Little Egg Harbor, County of Ocean to Country Club, License No. 1516-33-009-005 (“Liquor License”); golf-related inventory, accounts receivable estimated at $50,000 as of the Petition Date, and a modest amount of food, beverage and liquor inventory (collectively, the “Country Club Assets” and, together with the Golf Club Assets, the “Assets”).
Assets is more described on the attached PDF.
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
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Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume:
Additional Details
- Auction and Sale Hearing Held on September 9, 2020 at 2:00 p.m.
- Bid Increment: $100,000
- Bid Deposit: 10% of the total consideration
- Bid Deadline: September 8, 2020