manhattanskier
New member
Ascutney Auctioned to high bidder - Title Free and Clear. I am not sure what this means, anyone hear anything?
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No HSQ but everything else is there. Gonna have to do some research on this one. Good find manhattanskier!
I was really surprised, thank you internet this video is less then 24 hours old lol Hope they reopen!
Another high point on the roller coaster life of Ascutney. Never skied there, but what caused this place to fail? Twice, correct?
The Plausteiners bought Ascutney Mountain Resort out of bankruptcy in the early 1990s for $1.1 million. But it didn’t take long before they too started having money troubles.
In 1998, the Plausteiners — as Snowdance LLC — were the majority owners of the ski resort and investment banker Dan Purjes and Myles Wittenstein were the minority owners. In 2005, Snowdance took out a $4.5 million promissory note from PRIF Ascutney LLC, a New Jersey-based investment company. Soon after, in 2008 when Snowdance began defaulting on its loan, Purjes and Wittenstein formed a new company, MFW Associates, and purchased the $4.5 million promissory note for $850,000.
MFW started foreclosure proceedings shortly after, citing $1.8 million in debt.
A quick thought, maybe this is probably the mountain that the people at Hermitage(Haystack) should have tried to reopen as a private area. I do realize that it wasn't available at the time, just a "what-if?"
I was thinking the same thing. It's certainly got much better terrain than Haystack.
And access to a killer mtb trail networkAnd better access and condos/lodging....