Muroff Hospitality Group announces sale of the Mohican Resort of Lake George

Lake George, NY Muroff Hospitality Group has completed the sale of The Mohican Resort of Lake George and the 8,000 s/f Boats by George Storage Building, located at 1545 State Rte. 9. Both properties were owned by Chad Nims (1545 State Route 9 LLC). The entire property is 4.69 acres and was recently subdivided to sell the motel property (3.75 acres) to Amit and Payal Kumar and the Boat Storage Building (.94 acre)) to George Pensel (Five Star Marina Properties, LLC). Mitch Muroff of Muroff Hospitality Group represented the seller and secured the buyers in this exclusive listing. The total sales price was $3.1 million ($2.7 million for the motel and $400,000 for the boat storage building).

This well-established, long-time family-owned resort has 44 units, ranging in size from traditional guest rooms to two-bedroom suites, condo-like units, townhouses and a newly renovated four-bedroom home. Additional amenities include outdoor and heated indoor swimming pools, game room, business center, basketball court, BBQ grills, fitness center, park like setting, gazebo, guest laundry, children’s playground, housekeeping, and more. The Mohican Resort is nearby to Great Escape, the Lake George Outlets, Millionaires Beach, Cruise Ships, Village of Lake George, Ft. William Henry, restaurants, shopping, bars and local attractions. 

Resort motel, boat storage near the Lake George outlets sold

By Chelsea Diana – Reporter, Albany Business Review

Jul 7, 2024

The Mohican Resort Motel — on Route 9 near the Lake George factory outlets in Queensbury — sold last week, along with a boat storage building on the property.

Paving and excavating contractor Chad Nims sold the resort at 1545 Route 9 for $2.7 million to Amit and Payal Kumar, according to broker Mitch Muroff, who had the listing for the property.

A separate boat storage building on the property that was recently subdivided sold for $400,000 to George Pensel, owner of Boats by George.

Muroff, of Muroff Hospitality Group, represented the seller and secured the buyers.

The transactions closed on July 2. Deeds and any mortgage information are not yet publicly available.

Nims bought the hotel in February 2023 after the previous owners lost the property due to financial problems. Nims paid $1.7 million to buy the property, which he had previously leased. He invested about $400,000 renovating a two-story house on the Mohican property and upgrading most of the rooms.

The resort has 44 rooms, including traditional motel rooms, two-bedroom suites, townhouse-style rooms and the four-bedroom home. It features outdoor and heated indoor swimming pools, a game room, business center, basketball court, BBQ grills, fitness center and other amenities.

The entire property, including the boat storage building, is 4.69 acres.

Muroff said the new owners plan to continue to run the property as is, likely making some cosmetic changes after the summer season.

In Warren County, the occupancy rate for hotels from January to May was 41%, down 2.1% from the same period last year, according to data from STR, a hospitality consulting firm that’s part of CoStar Group.

The average daily rate was up 2%, to $140.36. Total revenue was $43.9 million, up 0.3%.

Sale of Luzerne’s Lamplight

By Mark Frost, Chronicle Editor

Forty years ago, Gene and Linda Merlino took a leap, bought a building dating from 1890 in Lake Luzerne and turned it into the Lamplight Inn Bed & Breakfast. “It was a total whim,” says Linda. “We were talking about making a change in our lives. We were going to bed & breakfasts and said ‘this looks like fun.’ Then we found the building. Neither one of us had a background” in hospitality.

On May 1, George and Mary Haleem of Pennsylvania took a leap of their own, buying the Lamplight from the Merlinos.

The Haleems have experience that the Merlinos didn’t. George says, “Pharmaceutical and medical devices was my career for about 12 years.” Then the couple bought a house in the Poconos, “which we started renting out as a vacation home and it did very well. We purchased another one after that. We scaled up over the years. This will be our eighth property. Five of them are vacation homes” — “6- or 7-bedroom homes geared for large families.”

“We also own Pine Hill Lodge in Mount Pocono, an 11-bedroom lodge dating from 1875. It’s very similar in nature to the Lamplight Inn. We purchased that three years ago. We did some preservation to kind of maintain that property.” They bought Sterling Manor, also in Mount Pocono, which George says is a vacation resort dating from the early 1900s.

“Last year I left my career” in medical device quality and regulatory assurance, says George. “I wasn’t enjoying that anymore.” Mary has kept hers. “My wife is an accountant by trade.” The Haleems have three- and five-year old girls. “My daughters love going up to the mountain homes. They take it as vacation,” George said.

Mitch Muroff, whose Muroff Hospitality Group brokered the sale, said it sold for $1.255 million.

The Merlinos own two nearby houses and will stay in Lake Luzerne. Gene, who just turned 80, is the long-time Lake Luzerne Town Supervisor. Actually, the Merlinos are operating the 12-room inn right now, until the Haleems’ newly hired live-in innkeeper Tamara Stevens of Glens Falls takes the reins in mid-June.

“After 40 years I have mixed emotions,” Linda said. “We have so many long-term guests, we became friends with so many of them. We were just called a national treasure on Facebook by a guest and we have so many five-star ratings on Google and everywhere. But it’s time, and George and Mary are nice people.”

“Gene and Linda built a great list of recurring guests,” George says. “We want to make sure we take care of them and that any changes we make will be gradual and just improve the existing experience.”

He said they’ll change the name to the Rockwell Falls Inn and Wine Bar. “We wanted a name that was ours,” George said. “Rockwell Falls is a block away.

“We eventually want to offer dinner. I want to be very clear it’s not going to happen right away.” Linda says, “Lake Luzerne could really use that.”

Lake Luzerne inn sold to Pennsylvania couple

By Chelsea Diana – Reporter, Albany Business Review

May 2, 2024

A Pennsylvania couple has purchased The Lamplight Inn Bed & Breakfast in Lake Luzerne, the Adirondacks town southwest of Lake George village, for $1.255 million.

George and Mary Haleem bought the Victorian inn at 231 Lake Ave. from Eugene and Linda Merlino. The transaction closed on April 30, according to a deed filed in Warren County.

Broker Mitch Muroff of Muroff Hospitality Group represented the seller and secured the buyer.

The Merlinos had owned the bed and breakfast for 40 years. Eugene Merlino is the town supervisor of Lake Luzerne in the foothills of the Adirondack Mountains. The town and the small lake, known for ice fishing tournaments, community beaches and kayaking, share the same name.

The inn property includes the seven-suite main Victorian-style building built in 1890 and a five-room carriage house built in 1966. Overall, the inn is situated on 2.78 acres.

The Lamplight had been listed for $1.395 million. Muroff said the inn had another offer that fell through at the last day of due diligence. Within a week or so, the Haleems showed an interest in the property. They mortgaged the property with The Dime Bank of Pennsylvania.

“I gave them a tour and he loved it,” Muroff said. “They have experience running Airbnbs and rental properties and inns and were well qualified to buy it.”

This is the buyers’ first investment property in New York, Muroff said. He mentioned that the Merlinos, who live next door to the inn, plan to assist the new owners in the transition.

The inn will be open in time for regular spring and summer bookings.

Muroff Hospitality Group completes the sale of The Lamplight Inn Bed & Breakfast for $1.255 million

Lake Luzerne, NY Muroff Hospitality Group completed the sale of The Lamplight Inn Bed & Breakfast; 231 Lake Ave. Known as “The Jewel of the Adirondacks,” this award-winning property features 12 suites, a dining room and a spacious owner’s apartment. There is an expansive wrap around porch around the 1890 Victorian Building. The Carriage House is behind the 1890 building where there are 5 large ground floor suites in a modern building surrounded by acres of wooded privacy. 

The sellers were Eugene and Linda Merlino. Eugene Merlino has been the long time Town Supervisor of Lake Luzerne, New York and will continue in that role. The buyers were George and Mary Haleem of Pennsylvania. This will be their first investment property in New York State. Mitch Muroff of Muroff Hospitality Group represented the seller and secured the buyer in this exclusive listing. The sales price was $1.255 million and the transaction closed on Wednesday, May 1, 2024 in Queensbury, NY.

Glamping resort hits the market for $2.5 million

By Chelsea Diana – Reporter, Albany Business Review

Apr 4, 2024

Updated Apr 4, 2024 11:45am EDT

An 81.68-acre riverfront glamping resort in Washington County was listed for sale last month at $2.495 million.

The Preserve on the Battenkill at 935 State Route 313 in Cambridge is listed with Mitch Muroff of Muroff Hospitality Group in Newton, Massachusetts. The resort is just west of Vermont’s Green Mountains and south of New York’s Adirondack Mountains.

“Camping, and glamping specifically, is becoming more and more popular,” Muroff said. “It’s a unique campsite — it’s very upscale and presents some opportunities that a lot of neighboring campsites don’t. It’s brand new and it’s a beautiful site that people from all over the mid-Atlantic and Northeast will enjoy.”

The term “glamping” refers to “glamorous camping.”

The resort includes 20 units, including wood-framed tent cabins featuring their own private bathrooms, as well as a geodesic dome, a rustic riverside cabin and a riverside off-grid travel trailer.

Muroff said the resort, which opened last summer, has approval to expand and add additional units up to 35. He said the forecasted cap rate is 10%.

“We’re hoping to find a company that has other glamping properties who would be able to attract customers and guests from all over the Northeast and beyond,” Muroff said.

Rates to stay in the deluxe tent cabins start at $275 per night. Rates for the tent cabins, which have shared bathrooms, start at $185 a night. The riverfront cabin, which has a shared bathroom, starts at $180 a night. The star-gazing geo dome starts at $150 per night. And the off-the-grid trailer, which includes a private bathroom, starts at $250 a night.

Guests can kayak, canoe or tube from the property and wade into the waters of the Battenkill.

The property includes Provisions, an outdoor dining bistro, and Outpost Resort Store where guests can purchase essentials, local produce and local products. A shared pavilion area features pizza ovens, a putting range and yard games. The property also includes a sauna.

The resort opens for the summer season in May.

Muroff said the owner has continued to work full time, and found it too difficult to continue to do both. He said the property requires less on site management than a full-service motel.

“There’s been a surge in people wanting to be outside and to be in campsites and RV sites and other outdoor activities and get back to nature,” Muroff said. “People want to be one with nature and an upscale glamping site like the Battenkill gives the best opportunity to take advantage of the beautiful natural setting, but yet have all the comforts of home in their tents or cabins.”

Lake George hotel listed for $2.5 million

By Chelsea Diana – Reporter, Albany Business Review

Jan 29, 2024

The Baymont by Wyndham in Lake George is up for sale.

The hotel at 439 Canada St. was listed for sale this month at nearly $2.5 million. The owners, the Shah family, decided to sell for personal reasons, according to to listing agent Mitchell Muroff of Muroff Hospitality Group.

The Shah family has owned the Baymont Lake George since 2018 when they purchased the hotel for almost $2 million from the Moore family, who had owned it for 39 years.

At the time of the sale in 2018, the property was an EconoLodge but when another franchise under that flag opened nearby, Muroff said the Shahs applied for a franchise with Wyndham and changed the brand of the hotel to Baymont.

“The property was in excellent condition when it was sold to them, they’ve maintained the property, and decided to sell it,” Muroff said.

The hotel has 50 rooms across three floors with an elevator and features both indoor and outdoor swimming pools.

Muroff Hospitality Group represents independent and franchised hoteliers, restaurants, inns and resorts in the greater New York/New England region.

Muroff said the Lake George hotel market has remained strong since the Covid-19 pandemic when vacationers opted for road trips over flying.

In recent months The Lake George Inn at 444 Canada St., across Route 9 from the Baymont, sold for $1.25 million. A few other properties on or near the lake are under contract.

Muroff said he has two other active listings in and near Lake George — Mario’s Restaurant at 429 Canada St. is listed for nearly $2.4 million and the Mohican Resort of Lake George is listed for $3.25 million.

This latest listing comes as Lake George is poised for more development.

The town and village were awarded $10 million from the Downtown Revitalization Initiative, which focused on Canada Street and the adjacent waterfront, according to an announcement from Gov. Kathy Hochul’s office. Potential projects include new housing for seasonal workers, broadband expansion and tourism-related improvements.

Landmark Lake George restaurant for sale after 70 years in business

By Sam Raudins – Reporter, Albany Business Review

Jan 10, 2024

Mario’s Restaurant of Lake George has hit the market.

The family-owned Italian restaurant at 429 Canada St. is listed for sale for nearly $2.4 million, which includes the business and the property. The owners, Paul and Nancy Nichols, are retiring, according to listing agent Mitchell Muroff of Muroff Hospitality Group.

The Nichols were not yet ready to discuss their decision to put the restaurant up for sale.

The restaurant has been operated by the family since 1954. Muroff said the hope is that the new buyer would “freshen up” the established restaurant.

“I don’t think the goal will be to come in and change it completely. I think the goal would be to build on the legacy,” Muroff said.

Mario’s currently operates year-round, which is part of why Muroff sees this as a timely opportunity.

“Most hotels and businesses close for the season. Lake George has always tried to become more of a four-season and all-year community and they’re working hard on that,” Muroff said. “The Chamber of Commerce has been successful in getting a lot of winter events, and more this year than ever, but not a lot of full service restaurants have stayed open.”

Muroff said the restaurant has developed a loyal customer base between locals and tourists, with customers traveling anywhere from 30-60 minutes to dine in.

The sale includes the business’ recipes. Menu offerings range from appetizers and pastas to entrees such as chicken parmigiana and veal saltimbocca, among others. Specific revenue figures are only disclosed to interested buyers that have signed a non-disclosure agreement, Muroff said.

The building is 5,630 square feet, which includes the main dining room, a bar, a terrace dining room, and a kitchen with updated stainless steel appliances.

Above the restaurant is a three-bedroom apartment, and there’s a dry basement for storage, refrigeration and commercial laundry for linens and uniforms.

The property also includes a parking lot.

The listing comes as Lake George is poised for more development. The town and village were awarded funds from the Downtown Revitalization Initiative, which focused on Canada Street and the adjacent waterfront, according to an announcement from Gov. Kathy Hochul’s office. Possible projects being considered by the town include housing opportunities, broadband expansion and tourism-related improvements.