Courtesy Davies-Davies and Associates (2021)
Bayview Marina & Suites at 4762 Lake Shore Drive in Bolton sold for $4.9 million.
Bayview Lakeside Suites, a Bolton Landing marina with a three-family home, a lakeside cabin and 28 permitted docks, sold on Oct. 28 for $4.9 million.
The new owners are Jim and Con Burke. Jim Burke grew up on Lake George before moving to North Carolina, where he is in the import-export business. Con Burke and their younger brother Michael own BBB Construction in Lake George.
Holly Dansbury of Davies-Davies & Associates Real Estate represented the sellers, the LaVoy family, who have owned the property on Huddle Bay just south of the Algonquin Restaurant since 1992.
It was listed for $5.995 million, and on the market for five months.
Contacted for comment, Dansbury told FoothillsBusinessDaily.com that she had other offers, but the offer from the Burkes was the one the seller felt most comfortable with.
“It’s one of the most pristine marinas on the lake,” she said. “It’s just a beautiful property.”
Jim Burke said they had been looking for a lakeside property and saw Bayview Lakeside Suites as “a great investment opportunity to stay on the lake.
“Our family has been on the lake for generations, and we’ve known the LaVoy family for generations. We are very excited to own the most pristine marina on the lake and extend its services and offerings.”
Jim Burke said there are a lot of opportunities with the property, including AirBnB, and “we plan to continue to lease and rent the units now that the owners won’t be living there, and to make the best use of the facility.”
Con Burke said, “As we told Holly, it will be business as usual, but on steroids.”
Jim Burke added, “It has premium docks, a premium location, and it’s within walking distance to Bolton Landing. It checked a lot of boxes for us. We’re very humbled to own such a spectacular property.”
The listing says the 28 docks can be rented or sold, and the property has new docks, stormwater system, septic, furnace and decks. It has three luxury suites (one is owner-occupied) that could be sold as condos, a lakeside cabin, and a quick launch and boat storage.
The 5,400-square-foot residence has views of Sweetbriar Island and comes completely furnished with nine bedrooms and nine full bathrooms. The listing boasts of “great cashflow with an established stream of business.”
Located at 4726 Lakeshore Drive, the .93-acre property includes 155 feet of lakefront and a five-car garage. Its 2020 assessment was $2.38-million. Taxes are $21,196 annually.