Balsam House on Friends Lake - Renovation 477 Atateka Dr 21 Pièce Hôtel Chestertown, NY 12817 7 528 345 $ CAD (358 493 $ CAD/Pièce) 7,42% Taux de capitalisation

Once the "Jewel of the Adirondacks" this 38 room full service hotel dates back to the 1800's with full riparian rights and direct access to the private Friends Lake. Closed in 1980's due to a fire in the kitchen, the hotel is ready for a complete renovation supported by current HVS Feasibility Study stating a ADR of $350.00.
Fully entitled, submit plans & permits and you are ready to start construction. The local municipalities fully support the reopening of the hotel. The property qualifies for funding under the USDA Business & Industry Guaranteed Loan Programs. In addition, the property is located in the enterprise zone of Chestertown. The hotel maybe eligible for local tax incentives including city TOT programs. Some state and federal historic credits maybe available as well. Buyer to verify all.
The crafted from reclaimed timber and natural stone, blends seamlessly with its surroundings. Accommodations offer mountain views, wood-burning fireplaces, and silence so profound it becomes its own kind of music.
Seller Financing is offered:- 50 % carry paper @ 5.5% interest.
The purchase price includes a "Redevelopment Plan" should the buyer decide to expand the project, see "attached documents" tab for; current real estate appraisal, HVS Feasibility Study & municipality letters of support.
Nestled deep within the emerald embrace of the Adirondack Mountains, The Balsam House is more than a wellness resort—it's a return to self.
Here, beneath towering evergreens and beside mirror-like lakes, the pace of life slows. Guests arrive not to escape the world, but to rediscover their place in it.
From sunrise yoga on dew-kissed meadows to guided forest bathing through ancient pines, every experience is designed to reconnect body, mind, and spirit. Our wellness philosophy is rooted in nature’s rhythm—seasonal therapies, locally-sourced botanical cuisine, and elemental spa treatments inspired by earth, air, fire, and water.