180-acre Conn. golf club hits auction block

New York /
May.May 02, 2011 05:39 PM
Oak Lane Country Club (courtesy of: Tranzon)

Tiger Woods’ struggles aren’t the only thing putting a damper on golf’s success. According to the Wall Street Journal, players continue to abandon the sport and that has reverberated to the real estate auction market, as a 180-acre golf club, with an 18-hole course, eight tennis courts and three swimming pools in Woodbridge, Conn. is set to be auctioned May 10. The Oak Lane Country Club is down to about 200 members and with nearby clubs competing on price there wasn’t enough revenue to support the club, according to the Tranzon Integrated Property Group auction house, and it was about to default on its mortgage. So the property heads to auction with a reserve price of $1.6 million, which has attracted interest from a wide variety of bidders, including developers — who rarely find so much space in the crowded Northeast — church groups and others. [WSJ]


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