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No Bidders For New Jersey’s Hidden Valley

Hidden Valley NJ

An auction Oct. 1 for Hidden Valley Ski Resort in Vernon, N.J. was a bust. The search for a new owner goes on.

 

“We had a number of people who showed interest,” Oren Klein, a managing partner with Auction Advisers told NewJersey.com, “but no one was prepared to bid. We’ll continue to market the property.”

 

Hidden Valley closed at the end of last season after 36 years of operation. It is one of only three down hill ski slopes in New Jersey.

 

The auction was part of a state court liquidation proceeding.Bidding was expected to start at $2.75 million. That was the minimum amount needed to cover debts and fees.

 

Some 160 parties had reportedly expressed interest in the property, including groups from New York State and Pennsylvania, but Klein said “no one was prepared to bid." 

 

The main objective was to sell the property as a resort and Klein said some groups may still come forward with an offer.

 

The property includes 140 acres, a 10-acre spring-fed lake a main lodge, maintenance facilities and equipment including snow-making machinery. It also includes all furniture and fixtures, and a bar-restaurant with a liquor license. could make the property attractive as a year-round resort.

 

Klein said offers from developers interested in repositioning the property would be considered.

The resort opened in 1976 and changed hands three times. a group of investors bought the resort in 2007 and announced plans to upgrade and improve it. Financing was apparently lost in the economic downturn. 

 

Photo: Hidden Valley Resort, NJ (Damascus Family/Flickr) 

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