Friday, August 29, 2014
Old-time Pocono resort sold for $1.3 million
An old-time Pocono resort in operation since 1953 has been sold.
The Pocono Record newspaper reported that the Daniels Top-O-the-Poconos Family Resort near Canadensis sold last weekend for $1.3 million.
Three generations of the family operated the business since 1953. The newspaper reported that the resort was purchased by a congregation of Hasidic Jews that plans to use it as a Jewish campground, according to Bob Starrett, an agent with ReMax who brokered the sale.
The property stands on a 40-acre mountain site that had about 30 different structures on the property. Most were for lodging, but there is also an indoor swimming pool, tennis courts, an outdoor pool and several ballfields.
The resort featured a large banquet hall that hosted a lot of weddings and other events over the years. That, along with the hospitality business, brought in about $1 million a year, according to the newspaper.
Starrett said owners Chuck and Matt Daniels sold the business because revenues declined, maintenance costs went up, and the public was looking for the conveniences of new style water parks.
The new owners officially took over Sunday.
http://www.timesleader.com/news/business/50218127/Old-time-Pocono-resort-sold-for-$1.3-million#.VAAAD_ldW4U
The Pocono Record newspaper reported that the Daniels Top-O-the-Poconos Family Resort near Canadensis sold last weekend for $1.3 million.
Three generations of the family operated the business since 1953. The newspaper reported that the resort was purchased by a congregation of Hasidic Jews that plans to use it as a Jewish campground, according to Bob Starrett, an agent with ReMax who brokered the sale.
The property stands on a 40-acre mountain site that had about 30 different structures on the property. Most were for lodging, but there is also an indoor swimming pool, tennis courts, an outdoor pool and several ballfields.
The resort featured a large banquet hall that hosted a lot of weddings and other events over the years. That, along with the hospitality business, brought in about $1 million a year, according to the newspaper.
Starrett said owners Chuck and Matt Daniels sold the business because revenues declined, maintenance costs went up, and the public was looking for the conveniences of new style water parks.
The new owners officially took over Sunday.
http://www.timesleader.com/news/business/50218127/Old-time-Pocono-resort-sold-for-$1.3-million#.VAAAD_ldW4U
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