Roaring Brook Ranch Resort hits market again, this time for $10.5 million
By Chelsea Diana – Reporter, Albany Business Review
Jul 17, 2024
Updated Jul 17, 2024 3:44pm EDT
A real estate investor from India has listed the 135-room Roaring Brook Ranch Resort off Route 9N in Lake George for sale — along with 240 acres that can be developed.
Ajay Dhar of New Delhi has listed the nearly 280-acre property for sale at $10.5 million. He previously had listed the resort for sale in 2022, without the additional acreage.
The 240 acres that are now part of the listing can be redeveloped into residential, vacation homes and/ or complementary uses to the resort.
The property was listed last month through broker Mitch Muroff and Muroff Hospitality Group. Muroff said the first showings for the property are taking place next week.
The owners originally purchased the resort at 2206 State Route 9N in May 2019 for $2.75 million. The resort is about 2 miles south of Lake George village. They hired Access Hotels & Resorts of Florida to manage the property and oversee renovations.
In the last few years, Dhar made $5 million in renovations and capital improvements to the property, including updating 100 of the 135 guest rooms, as well as swimming pools, new roofs, and renovations to the convention center and grounds.
After listing the property for sale two years ago, Muroff said Dhar instead took on another partner, Hardeep Anand of Florida.
Anand and Dhar planned to permit the 240 acres surrounding the resort to vacation homes, townhouses or glamping campsites — uses that could take advantage of the resort’s amenities. Anand recently became ill, Muroff said, and can no longer pursue the project.
Muroff said they’re looking to sell the resort and the land together. He said Dhar is also open to taking on a new development partner who can redevelop the 240 acres.
“That could be an excellent opportunity for somebody who wanted to get into a development and essentially share the risk with the current owner,” Muroff said.
Muroff said a new owner would need to make some additional capital improvements to the resort, including renovating the remaining 35 guest rooms. The resort is currently closed.
The resort has one of the largest banquet spaces in the Adirondacks with the ability to host 700 guests, along with a large restaurant. The property features indoor and outdoor swimming pools, horseback riding and hiking trails.
Roaring Brook Ranch Resort was founded shortly after World War II by Joseph Garry Sr. His nephew, George Greene Jr., spent more than 50 years running and expanding the resort until his death in February 2018.