NORTHRIVER - North River's resort gem, The Garnet Hill Lodge, will go to auction this month without reserve.
The 268-acre business property, including 25 guest rooms within the main lodge and two cabins, was originally listed at $2.5 million, but the March 15 auction will allow bidders to name their price and it will sell to the highest bidder.
The property is owned by Joe and Mary Fahy of North River Holdings LLC and includes roughly 16,000 square feet of functional space. The sale is being handled by Vermont's Sotheby's real-estate company.
The couple bought the property in 2007 and, according to a press release issued by Sotheby's last week, the Garnet Hill Lodge has been on the market for some time but failed to find a buyer. Hence, the property will be sold, "regardless of price."
George Graham, head of the firm Concierge Auctions, which is handling the auction, spoke about the property's unique feel.
"The sellers understand this dynamic," Graham said, "and in order to achieve their goals they are willing to allow the prospective buyers to name the price."
The Garnet Hill Lodge was erected circa 1936 just after the Hooper Mine closed and weaves the mining history of the Town of Johnsburg into its theme as well as outdoor offering, which includes expansive cross-country skiing and biking opportunities.
The Fahy family, originally from Boston, purchased the property after a cross-country ski trip led them to the hills of North River.
"I grew up in a guest house in Ireland, and it's something that I always wanted to do myself," Joe said. "That's what brought us here."
Not only is the property pitched as a resort, but also as a private family estate. If the property is sold as such, it could have an effect on the economy of the Johnsburg region, one that relys heavily on tourism dollars generated by visitors who travel to visit Gore Mountain, the Hudson River and other local attractions.
"Garnet Hill Lodge is historical and important to the community of Johnsburg," said Johnsburg Supervisor Sterling Goodspeed. "We hope to see it continue a successful resort identity with new owners."
Concierge Auctions will handle the live auction on March 15.
For more information on Garnet Hill Lodge, visit www.garnet-hill.com.
For more information regarding the auction, call 877-214-3785 or visit GarnetHillAuction.com.