NEW YORK, April 25, 2011 /PRNewswire/ -- New York based TRANZON, Integrated Property Group ("TRANZON IPG") has announced that it will be auctioning off a 180+/- acre property just five miles from New Haven, CT. The property, which is located at 1027 Racebrook Road, consists of three land parcels with both fee simple and leasehold interests. A 24,000+/- SF clubhouse, three pools, cabanas, tennis courts with winter bubble, maintenance facility, halfway house and groundskeepers home are all located on the property. The auction will be conducted on site on Tuesday, May 10th at 1PM.
"The challenging economy definitely impacted the viability of the Oak Lane Country Club last year, which as a result saw declining membership," said TRANZON IPG Auctioneer and Partner Oren Klein. He adds "The property has many possibilities. The new owner could continue current operations as a private club, introduce a daily fee similar to other courses in the area, or partner with a developer to create a beautiful residential community."
"Rarely does an opportunity like this present itself. The club was owned & managed by the membership. Now a new owner can step in and continue the more than 50 years of tradition at Oak Lane," said Brecht Palombo, Auctioneer with TRANZON Auction Properties in Boston. "Although primarily being marketed to Golf and Country Club Operators, its grounds are among the most scenic in the Woodbridge area and at the minimum reserve amount - could also be very appealing for a residential developer with a longer term view," said Clay Petigo the Club's Superintendant since 2007.
The company has set up a dedicated website at www.ctgolfauction.com for easy access to the auction information. Contact TRANZON IPG at 888.243.3431.
TRANZON Integrated Property Group, based in the New York metropolitan area, is a full-service auction and real estate disposition company and a member company of TRANZON, L.L.C. With more than 30 offices from coast to coast, TRANZON's independently owned and operated regional member companies have conducted more than 11,000 auctions in 47 States and the District of Columbia, selling more than $1.6 Billion in asset value since the Company's formation. For a complete list of auctions and sales or to learn more about TRANZON visit www.tranzon.com.
Press Contact: Geri Rosman
SOURCE TRANZON, Integrated Property Group