Golf club’s likely buyer aims to quell development fears

A town spokesperson said the town couldn't negotiate with Richard Schaub Jr.

Tri-State /
Aug.August 30, 2021 04:09 PM
Golf club’s likely buyer aims to quell development fears

50 Nassau Rd, Massapequa, NY (Google Maps)

The likely new owner of Oyster Bay’s Peninsula Golf Club said he’d sign a deal with the town to preserve the property, but the town doesn’t want to talk, according to Newsday.

The fate of the 50-acre property has been a hot topic among Oyster Bay officials for months. The town fears it could be developed even though it has a covenant requiring it remain a golf course.

Town officials have mulled buying or seizing the property since it hit the market this year. Nassau County leaders also want it to remain some kind of open space.

The town board met last month and discussed condemning the property to seize it via eminent domain, but did not vote on that action.

The prospective buyer, Richard Schaub Jr., is nearing a deal for the property. He said he has plans to upgrade some holes, add a couple of new ones, and expand the clubhouse, and has no intent to develop housing on the property.

He recently wrote a letter to the town that he was “willing to work with the town, defining that this property should always remain green,” according to Newsday.

Oyster Bay spokesperson Brian Nevin said that the town “cannot negotiate with parties that do not own the property.”

The golf course’s ownership company tabled a vote to finalize the sale to Schaub in light of the town’s discussions of seizing it via eminent domain.

[Newsday] — Dennis Lynch






    Related Articles

    arrow_forward_ios
    Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily
    Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily
    Crow Holdings, Marcus Partners teaming up for luxury Westchester multifamily
    Riverhead officials impose moratorium on solar energy projects
    Riverhead officials impose moratorium on solar energy projects
    Riverhead officials impose moratorium on solar energy projects
    Ex-partners’ feud stalls $140M development in Port Chester
    Ex-partners’ feud stalls $140M development in Port Chester
    Ex-partners’ feud stalls $140M development in Port Chester
    Convention center planned near American Dream mall
    Convention center planned near American Dream mall
    Convention center planned near American Dream mall
    Stacey Soloviev plans 40-key North Fork winery and resort
    Stacey Soloviev plans 40-key North Fork winery and resort
    Stacey Soloviev plans 40-key North Fork winery and resort
    Community Development Corporation of Long Island CEO Gwen O'Shea (CDCLI, iStock)
    Nassau County throwing more support behind $6 million rent relief program
    Nassau County throwing more support behind $6 million rent relief program
    Connecticut, Long Island projects show how pandemic has changed real estate
    Connecticut, Long Island projects show how pandemic has changed real estate
    Connecticut, Long Island projects show how pandemic has changed real estate
    Westport office building trades hands for $15M
    Westport office building trades hands for $15M
    Westport office building trades hands for $15M
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...