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Former Stevensville Hotel has a new owner

Dan Hust - Staff Writer
Posted 7/28/15

SWAN LAKE — The real estate firm representing the owners of the former Stevensville Hotel announced last week that the famed Swan Lake destination was sold July 15 for $2.2 million.

The Gallo …

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Former Stevensville Hotel has a new owner

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SWAN LAKE — The real estate firm representing the owners of the former Stevensville Hotel announced last week that the famed Swan Lake destination was sold July 15 for $2.2 million.

The Gallo family sold it to Congregation Iched Anash, an Orthodox Jewish group that last month received Town of Liberty Planning Board permission to operate a summer camp within the renovated sections of the old hotel.

A key part of the Borscht Belt up until it closed circa 1990, the Stevensville was bought by the Gallo family, who reopened the sprawling facility in 1999, adding, among other amenities, an Asian restaurant.

The rebranded Swan Lake Hotel and Resort closed once again in 2007, a planned sale having fallen through at the last minute and the market souring thereafter from the 2008 recession, recalled owner Todd Gallo.

This latest sale, however, was completed, confirmed Gallo and a press release from broker Stephen Perfit of Cushman & Wakefield/Pyramid Brokerage Company in Newburgh (representing the seller).

The buyers could not be reached for comment, but the press release indicated only 37 acres were sold: the resort, a small parcel behind the hotel, and two parcels between it and the lake (including the lakeside athletic courts).

More than 350 other acres straddling the Liberty/Bethel border remain in the Gallo family, including the Swan Lake Golf Club golf course, which continues to operate. Gallo affirmed he isn't leaving the area or closing up shop.

Now that the resort is being used for religious purposes, Liberty Town Supervisor Charlie Barbuti expects some or all of those 37 newly purchased acres to eventually become tax-exempt (though no application for exemption has been received by the town yet).

“I'm happy for Todd. I'm not so happy for the town, as I'm almost certain it will come off the tax rolls,” he told the Democrat.

According to online tax records, the resort and the properties involved in the sale paid $81,053.13 in property and school taxes in 2014. So far this year, the Gallos have paid $41,384.01 in taxes, with no bills outstanding.

The Liberty Assessor's Office said that if application is made and approved for a tax exemption, such exemption would not take effect until after March 1, 2016 Taxable Status Day in New York State.

Barbuti expects that the application, if submitted, will be approved.

“We don't like to see any property come off the tax rolls,” he acknowledged, “but state law is state law.”

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