The Pines of Lake Placid

Don’t miss this outstanding opportunity to enter one of the most important leisure markets in the Northeast!  The Lake Placid Pines Inn, has been a popular destination for travelers to the Adirondacks since the early 1900s.  Built by Albert Stickney in 1907, it changed hands a few times until 1923 when the inn was renamed the iconic “St Moritz Hotel”.  This is a fabulous opportunity for an entrepreneurial buyer that would renovate the property, bring on a professional management team and maintain the hotel’s independent status or affiliate with a national soft brand.  There are currently 28 guestrooms located on the first three floors of the building, expanding to 50 post renovation on five stories.  Other amenities include an on-site restaurant, 2000 sq. ft. of social/meeting space (a great wedding venue), an indoor whirlpool, a fitness room, outdoor seating, a game room/lounge, a dry sauna, vending area and guest parking.  In fact, HVS, a leading hospitality firm, valued the after-repair value of the Pines at $13M (appraisal available with signed NDA).  Comparable sales have recently included the neighboring Townhouse Lodge that sold for $2.2M ($100K per key).


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Price : $2,999,000
Property Type : Boutique Hotel
Purpose : Buy
Status : Available
Address : 2302 Saranac Ave, Lake Placid, NY
State : New York
Zip Code : 12946
City : Lake Placid
No. Guest Rooms : 28
Property ID : 224342



Lake Placid is one of the most beloved leisure destinations in the Northeast.
Rare development opportunity of an iconic hotel in a sought-after location.
Acquire an older property at a great price; transform it into a boutique hotel.
Strong operating forecast post renovation in high barrier to enter market.
Four season fun! Swimming, skiing, shopping, hiking, restaurants, museums.
Great opportunity for an experienced hotelier or an entrepreneurial buyer.

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Mitch Muroff
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