Historic Adirondack Waterfront Hotel Redevelopment Opportunity 33-Key Full-Service Boutique Hotel | Fully Entitled | Waterfront Rights | Adirondack Mountains, New York Positioned in the heart of the Adirondacks with direct access and riparian rights to private Friends Lake, this historic hospitality asset presents a rare opportunity to acquire and reposition a landmark destination property through a phased renovation and redevelopment strategy. Located in one of states largest park areas of more than 6 million acres. Conveniently located 20 mins from Gore Mountain Ski Center with year around sporting events, and close to golf courses and equestrian center. Originally established in the 1800s and once known as the “Jewel of the Adirondacks,” the property consists of an existing 33-room full-service hotel structure with substantial infrastructure already in place. Following a prior fire event, the primary building shell remains substantially intact with a newer roof already completed, allowing investors to focus capital primarily on interior renovation and operational buildout rather than costly ground-up construction. The revised business strategy allows for a phased renovation approach, enabling ownership to renovate and reopen the existing 33-room hotel first while preserving significant long-term expansion and redevelopment potential under the included redevelopment plans. This approach substantially reduces initial capital exposure while allowing future development to occur over time as operations stabilize and revenues grow. The existing structure was originally designed to support full-service hospitality operations and accommodates restaurant and bar facilities, wellness amenities, spa components, and event space within the current footprint. The property also offers ample on-site parking to support hotel operations, restaurant/bar use, destination events, wellness programming, and future expansion phases. Investment Highlights Historic 33-room full-service hotel Direct waterfront access with riparian rights to Friends Lake Existing building shell substantially intact Newer roof already completed Fully entitled redevelopment opportunity Ability to execute phased renovation and expansion strategy Existing structure designed for restaurant, bar, spa, wellness, and event operations Strong municipality support for reopening and redevelopment Ample on-site parking Includes long-term redevelopment and expansion plans Located within the Chestertown Enterprise Zone Potential eligibility for: USDA Business & Industry Guaranteed Loan Program Historic preservation tax credits Local economic development incentives Tourism and occupancy tax incentive programs Buyer to independently verify all incentives Valuation & Feasibility Ownership has obtained: Commercial appraisal valuing the property at approximately $5,770,000 HVS Feasibility Study supporting projected ADRs of approximately $350/night The property is currently valued at approximately $180/SF in its existing condition, including land value. Estimated renovation and buildout costs are projected at approximately $350/SF depending on final design, scope, and finish level. Development Status The property is fully entitled. Upon submission of final construction plans and permits, the project is positioned to commence redevelopment. Local municipalities have expressed strong support for restoration of the hotel as an important hospitality and tourism asset within the region. Long-Term Vision The offering includes a comprehensive redevelopment plan for investors seeking to create a premier Adirondack boutique hotel, wellness retreat, and destination resort over time. Future phases may include expanded guest accommodations, luxury cabins, enhanced wellness facilities, spa experiences, event venues, curated outdoor programming, and luxury nature-based hospitality experiences designed to capitalize on the continued growth of experiential travel and wellness tourism. Constructed with reclaimed timber and natural stone, the envisioned design blends naturally into the surrounding mountain landscape while preserving the historic character and authenticity of the original property. Offering Materials Available in Document Section: Commercial Appraisal HVS Feasibility Study Municipality Letters of Support Redevelopment Plans & Concept Materials