155-ACRE COLLEGE CAMPUS

Auction by: Maltz Auctions

Live On-Site Auction with Online Bidding

Begins: Tuesday, August 18, 2020 at 1:00 PM EDT

Location: One Brennan Circle, Poultney, VT 05764

Details

Click on any image to view larger.

Lender Approved Auction

Magnificent 155-Acre College Campus

22 Impressive Buildings – 447,000 Sq Ft
Environmentally Sustainable/Green Campus

 

 $3,000,000 Minimum Bid

Details:

  • Green Mountain College, One Brennan Circle, Poultney, Rutland County, VT 05764
  • Located on the Vermont/New York Border in the Southern Vermont Lakes Region
  • 40 Minutes to Lake George, 75 Minutes to Albany; 3.5 Hours to Boston; 4 Hours to New York City; 3 Hours to Montreal
  • Magnificent 155 Acre Campus Improved with 22 Buildings of High-End Brick & Slate Construction
  • Turn-Key Opportunity – Equipped/Furnished
  • Campus Received a Perfect “Green Rating” by Princeton Review’s Green Honor Roll
  • Wood-Fueled Biomass Steam Heat System. Built in 2010 at a Cost of $5,800,000
  • Skiing, Hiking & Bike Trails on and/or Nearby Property
  • Potential Alternative Uses Include Religious Compound, Assisted Living, Housing, Summer Camp, Addiction Retreat and Many Others
     
  • 22 Buildings – 447,000 Sq Ft Total Space:
  • 7 Dormitory Buildings
  • 3 Mixed-Use Buildings
  • 3 Administrative Buildings
  • 2 Arts Buildings/Galleries
  • 3 Single Family Homes with Multiple Uses
  • Library (3-Stories + Mezzanine & Lower Level)
  • Gymnasium/Field House
  • Biomass Plant/Maintenance Shop
  • Barn
     
  • Campus Features/Amenities:
  • Housing for 654 Students
  • 33 Classrooms
  • Administrative Offices
  • Lecture Halls
  • Modern Cafeteria/Commercial Kitchens
  • Student/Community Center
  • Library
  • Indoor Gymnasium/Basketball Court w/Bleacher Seating
  • Indoor Pool
  • Indoor Fitness Center
  • Playing Fields
  • 400-Seat Theater
  • Fine Arts Studios/Galleries
  • Farm w/Barn & Greenhouse
  • Guest Residences

  • Property Features/Miscellaneous:
  • Buildings Constructed between 1855 and 1969
    • 6 Buildings Renovated Since 2000
  • Wood-Fired BioMass Steam Heat System Services Most Buildings
    • Oil Burner Back-Up
  • Solar-Array Panels (Leased) Provide 809.6 KW of Electricity
  • Underground Electrical System Replaced in 2009 at a cost of $1,200,000
  • Sprinkler Systems Installed in Buildings used Exclusively as Dormitories
  • New Windows Installed in 2012 in Residence Halls
  • Ample Paved & Unpaved Parking
  • Public Utilities: Water, Sewer, Electric & Gas
  • 18 Tax Lots
  • Zoning: CC (College Campus)
  • AT&T Cell Tower Lease Generates $963/Month
  • Bentley House Lease (Partial Space) to The Nature Conservancy Generates $1,803/Month
  • Annual Real Estate Taxes (2018/2019) $15,994.82 w/Exemption as Education Provider
  • Annual Real Estate Taxes Estimate – as Non-Exempt User: $132,000 (Appx)
  • Flood Zone A
  • Favorable Financing Available for Pre-Qualified Private Non-Profit Entities or Municipality Buyers (Financing Requests Should be Submitted by July 31st)
  • Previously Listed at $23,000,000
  • Appraised in 2016 for $20,000,000
  • $3,000,000 MINIMUM BID
  • Additional Information Available Upon Completion of the Non-Disclosure Agreement – Click Here to Complete

 

Viewings: Available by appointment upon request.

Auction Date & Time: Tuesday, August 18, 2020 at 1:00 pm.  Registration commences at 11:30 am.  

Auction Location: On location at Green Mountain College.  Online bidding available with pre-registration by August 13, 2020.

Terms & Conditions of Sale: Sold free & clear of all monetary liens.  The Seller has received and accepted a $3,000,000 offer subject to higher bids at the auction with the next bid to be in the minimum amount of $3,200,000.  In order to register to bid, all prospective bidders must present a cashier’s check in the amount of $320,000 payable to “Maltz Auctions“.  Subject to sale prior to auction as pre-auction offers will be considered.  Please download the complete Terms & Conditions of Sale.

Buyer’s Premium: A seven (7%) percent Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.

Broker Participation: A two (2%) percent commission will be paid to any properly licensed Buyer Broker who registers a Successful Buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation Form for details.

 

 
Verdolino & Lowey, P.C., Chief Restructuring Officer
Maltz Auctions, Marketing Agent:
Phone: (516) 349-7022
Tyler B. Hirchak, Licensed VT Auctioneer # 00570002420
MSI Realty, Licensed VT Broker # 0810134047

The Real Property is being sold “AS IS” “WHERE IS”“WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances of whatever kind or nature, with such liens, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the Closing, and the sale of the Real Property is subject to, among other things (a) any state of facts that an accurate survey may show; (b) any covenants, restrictions and easements of record; (c) any state of facts a physical inspection may show; (d) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (e) environmental conditions. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Real Property, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Real Property in making their bids. Neither Maltz, Hirchak, MSI, the Seller nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses of the Real Property including, but not limited to, the zoning of the Real Property.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, Hirchak, MSI, the Seller, or their professionals.  The Real Property will be sold subject to any and all violations or conditions requiring corrective action.  The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third party sources and has not been independently verified.  It is the responsibility of the Buyer to determine the accuracy of all components of the sale and Property.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.

AuctionServices