Recreational Real Estate
Appraisals & Consulting
East Coast Experts
East Coast Experts
Recreational real estate valuations are complex and require a professional who has specific working knowledge and expertise to complete an appraisal accurately and in compliance with state and federal requirements. Most often it involves the “going concern” and therefore requires an allocation between the business/goodwill, personal property and real estate. We use a market-supported technique that has been adopted by the courts to ascribe value to the different components. Our use of this approach has helped solidify its application by the courts.
We understand the dynamics of a market, and make well-supported projections from years of experience, a wealth of data and an extensive list of contacts. We are knowledgeable in all aspects of real estate consulting, including feasibility and Highest & Best Use studies, litigation support, Ad Valorem, tax certiorari, loan and appraisal review, estate planning, partnership disputes, litigation support, asset allocation, and investment sales due diligence. Our clients include property owners, lenders, municipalities, law firms, corporations, and shareholders.
Jeffrey R. Dugas, MAI, SGA has maintained an exemplary record on the stand. He has achieved many favorable decisions in state, federal and supreme courts in MA, CT, RI, NJ, NH, PA, FL, & NY. Most appraisal firms decline assignments that may involve litigation. We thrive in these situations, and welcome cases with complex underlying valuation issues.
We have testified in bankruptcy cases involving Gillette Ridge GC, Grassy Hill Country Club, and Wentworth Hills. In each of these cases, the Judge concurred with our valuation estimates. We also testified in a financial damages case of Applecross Country Club, where our client was awarded a $20 million judgement. In a partnership dispute involving Colts Neck Country Club, our client was awarded the full amount of our value conclusion.
We have testified in assessment appeal cases on Black Rock Country Club, Mill River Country Club, Hampshire Country Club, Rockaway Hunt Golf Club, Rockville Links, Hempstead Country Club, Friars Head Golf Club, and Sleepy Hollow Country Club, to name a few.
The judge in tax cases for Friars Head and Sleepy Hollow relied exclusively on our value conclusions, saving those clubs millions in property taxes for the years under review.
Copies of court decisions are available on request.
Leisure Appraisal has helped facilitate more than $100 million in golf property sales, including Hamlet Wind Watch, Willow Creek, The Ridge Club, Mountain Branch, Hartefeld National, Oronoque Country Club, Sterling Country Club, and Heritage Village, to name a few.
Leisure Appraisal has advised and negotiated several golf course leases, including Sunset Hill, Sagamore Springs, Needham Country Club, and Rockland Golf Club.
We have helped clients save millions in property taxes by advising and negotiating reductions in assessments. Representative clients include Shore & County, Larchmont Yacht Club, Manursing, Myopia Hunt Club, Country Club of New Canaan, Willowbend, Renaissance, The International, and Wampanoag Country Club, among others.