GA Keen Realty Advisors, a division of Great American Group, Inc. (OTCBB:GAMR), is selling the Long Island National Golf Club in Riverhead, New York through a bankruptcy sale process.
Located at 1793 Northville Turnpike, in the heart of Long Island's east end wine country and minutes from the world-famous "Hamptons", the public golf club is best known for its links-style design created by renowned golf course architect Robert Trent Jones, Jr. The 150 acre site is also suitable for residential development pursuant to its current zoning designation.
"While many golf courses have seen revenues decline over the past few years, Long Island National Golf Club has maintained its profitability," said GA Keen Realty Advisors Co-President Matthew Bordwin.
OK, so if it's "profitable," how is it that it's being sold through a "bancruptcy sale process." ? Or is that just NYC bullshit lingo for an auction? Or does "profitable" mean, "we can make a profit as long as we don't have to include ALL our costs." Or maybe it's that Mr. Bordwin is willing to say just about anything to get some sucker to bail him out of this mess.