Fee & Leasehold Interests in "The Carnegie Abbey Club" of Portsmouth, RI Sold for Over $8.8 Million
JJManning Auctioneers is pleased
to announce the January 10th successful closing of the $8,805,000 auction
sale of fee & leasehold interests in Newport County's "The Carnegie Abbey
Club" held on December 4, 2018.
The auction was a multi-part or
in the entirety event featuring the Donald Steel designed 18-hole course, clubhouse,
and 41-slip marina that lie on approximately 280+/- acres on Narragansett Bay owned
and leased by the Benedictine Monks who operate the neighboring "Portsmouth
Abbey School." Also included was 6.2+/- acres of condo development land and 2.5+/-
acres of residential development land.
Marina owners, golf course
operators, investors, and developers were represented among the registered
bidders. A crowd of over 80 included many members who watched as the 7 bidders vied
for 5 auction groupings, rising with a spontaneous roar of applause when Justin
Manning's hammer fell and one of the more active buyers, represented by counsel,
took the auction in the entirety. Laura
Decker, Director of Membership & Marketing for "The Carnegie Abbey Club"
later indicated that the buying entity "consists of a group of current members
committed to restoring the club to the high standards it has historically been
JJManning Auctioneers has a history
of successful golf course sales including "The Georgetown Club", "Pleasant
Valley Golf Club", and "Sterling National Golf Club" among others. On January, 30, 2019, the company will be
offering "Black Birch Golf Club" & "Banner Country Club Estates", an 18-hole
golf course with 285+/- approved to be built residential condos on 405+/- Resort
Zoned acres in E. Haddam, CT. The firm
is also accepting consignments of commercial, industrial, and residential properties
for Spring auctions. Visitwww.JJManning.com or call 800-521-0111 for further information.
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