{"id":34899,"date":"2021-12-14T10:38:57","date_gmt":"2021-12-14T15:38:57","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=34899"},"modified":"2021-12-14T10:38:57","modified_gmt":"2021-12-14T15:38:57","slug":"flamingo-resort-on-lake-george-purchased-by-massachusetts-real-estate-developer","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2021\/12\/flamingo-resort-on-lake-george-purchased-by-massachusetts-real-estate-developer\/","title":{"rendered":"Flamingo Resort On Lake George Purchased By Massachusetts Real Estate Developer"},"content":{"rendered":"
\"\"
The Flamingo Resort on Lake George was sold by George Pasternak and his sister Chrystyna Panycia, whose parents started the business. The buyer is a Massachusetts real estate developer.
Courtesy Muroff Hospitality Group<\/figcaption><\/figure>\n

Muroff Hospitality Group announced the sale of The Flamingo Resort on Lake George.<\/p>\n

Chris Kozaczka, a Massachusetts real estate investor and tax analyst, and his family purchased the 65-year-old Flamingo Resort located at 3914 Lake Shore Drive, Diamond Point.<\/p>\n

The seller was Flamingo Resort Holding LLC and Flamingo Lake George Inc., which is George Pasternak and his sister Chrystyna Panycia, whose parents started the business.<\/p>\n

The sales price was $6,5 million. \u00a0<\/span><\/p>\n

Mitch Muroff of Muroff Hospitality Group represented the Seller and secured the buyer in an exclusive listing. The business transaction closed on Tuesday, Nov. 30 in Glens Falls.<\/p>\n

The Flamingo Resort is in the prestigious Diamond Point section of Lake George. Muroff\u00a0 <\/span>said the resort has been family owned for nearly 65 years, and the sellers were successful in finding a buyer that would continue their legacy of maintaining a traditional family resort.\u00a0<\/span><\/p>\n

The 4.63-acre property features 59 one-, two- and three-bedroom cabins, most with full kitchens, in addition to a spacious owner\u2019s home, all with views of Lake George. \u00a0<\/span><\/p>\n

Other features include a private sandy beach, two full-size, heated swimming pools and a marina boasting 17 docks and five charter boat licenses.<\/p>\n

<\/span><\/span>The Pasternak family decided a couple years ago that they would be willing to sell the Flamingo if the price was right, but they wanted to find a buyer interested in continuing to run the business as a resort, Muroff said.<\/p>\n

The Flamingo sale is part of a flurry of activity of marina and resort sales on the lake.\u00a0 <\/span>Jim and Con Burke purchased the Bayview Lakeside Suites & Marina in Bolton in late October for $4.9 million. The 7.5-acre, 62-room Capri Village Resort & Motel next door to the Flamingo sold for $5.5 million last month to builder David Massaroni of Niskayuna.<\/p>\n

Other sales dating back to December of last year include Adirondack Diamond Point Lodge in Diamond Point being sold to Todd Drake, owner of Watervliet-based Cornerstone Building Corp. and Empire Real Estate Management, for $900,000.<\/p>\n

Capital Region plastic surgeon, Dr. Edwin Williams III,\u00a0 <\/span>in May bought F.R. Smith and Sons Marina at 36 Sagamore Road in Bolton Landing for $3.5 million. In July, Muroff Hospitality Group announced the sale of The Lake George Suites, 3678 Lake Shore Drive in\u00a0 <\/span>Lake George for $3.2 million. R.E. Hansen Industries Inc. of St. James is the new owner.<\/p>\n

In late 2020, Dagget Lake Campsites and Cottages in the town of Thurman was sold by Tom Near and Pamela Finnegan for $2.8 million. Muroff also brokered that sale.<\/p>\n

Muroff Hospitality Group serves the greater New York\u2013New England Region as a boutique hospitality brokerage firm representing independent and franchised hoteliers alike.<\/p>\n","protected":false},"excerpt":{"rendered":"

Muroff Hospitality Group announced the sale of The Flamingo Resort on Lake George. Chris Kozaczka, a Massachusetts real estate investor and tax analyst, and his family purchased the 65-year-old Flamingo Resort located at 3914 Lake Shore Drive, Diamond Point. The seller was Flamingo Resort Holding LLC and Flamingo Lake George Inc., which is George Pasternak […]<\/p>\n","protected":false},"author":89,"featured_media":34900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\r\nFlamingo Resort On Lake George Purchased By Massachusetts Real Estate Developer - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2021\/12\/flamingo-resort-on-lake-george-purchased-by-massachusetts-real-estate-developer\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Flamingo Resort On Lake George Purchased By Massachusetts Real Estate Developer - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Muroff Hospitality Group announced the sale of The Flamingo Resort on Lake George. 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