Elmira Men Place Highest Bid for Greek Peak Resort
It looks like Greek Peak Resort in Cortland County may soon get new owners who hail from the Southern Tier. Elmira businessmen Marc Stemerman and John Meier placed the highest bid of $6.76 million at a private auction March 19th, in which bids were placed over the course of eleven hours.The bankruptcy court accepted the Elmira men’s bid and closing is set for April.
Greek Peak Ski Resort, Hope Lake Lodge and Peak Resort’s indoor water park in the town of Virgil fell into bankruptcy when an unseasonably mild winter in 2011-2012 curtailed the ski season and Greek Peak’s chief lender, Tennessee Commerce Bank was taken over by the Federal Deposit Insurance Corporation.
Stemerman and Meier say they plan to make some improvements to the property in the future but the specifics were not available.