April 30, 2017
May 1, 2017
A joint venture bought The Woodmere Club in Woodmere, NY from its members — securing an infusion of cash that will keep the golf and country club operating for at least five more years — with an eventual plan for new residential development.
“The Woodmere Club for several years, like many golf clubs across the country, has experienced a shrinking membership,” noted John Wiener, president of the 110-acre club at 99 Meadow Dr., on the south shore of Long Island in Nassau County.
“New owners Weiss Properties and 2020 Acquisitions plan a multi-million dollar renovation of Woodmere, and have brought in Troon, the country’s leading golf management organization, to operate the Club,” Wiener added.
“We were able to give the club the ability to choose a buyer and deal structure that best suited its needs,” said Andrew Merin of Cushman & Wakefield, which organized the transaction. The new ownership’s long-term vision for the property centers on positioning part of the property for high-end residential development.
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