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Cushman & Wakefield Inks Sale of Edgewood Country Club in River Vale, N.J.

| May 26, 2015 | 0 Comments

Cushman & Wakefield of New Jersey, Inc.Edgewood (23 of 36)
One Meadowlands Plaza
East Rutherford, New Jersey 07073

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Witmondt and Schonbraun Families Purchase Club in Fast-Paced Deal

RIVER VALE, N.J., May 26, 2015 – As the 2015 golf season heats up, Edgewood Country Club in River Vale has traded hands in a fast-paced transaction orchestrated by Cushman & Wakefield’s Metropolitan Area Capital Markets Group. The Witmondt and Schonbraun Families, operating through Edgewood Golf Course Realty Associates, acquired the 185-acre property from Edgewood Country Club Inc.Terms of the transaction were not disclosed.

Located at 449 Rivervale Road, Edgewood Country Club operates as a private, 27-hole golf course and country club facility. The property includes a 41,500-square-foot clubhouse, swimming pools, tennis courts, driving range, putting greens, snack bar, banquet facilities, and other amenities. Cushman & Wakefield brought the 55-year-old establishment to market earlier this year.

“We received more than one dozen offers from investors recognizing the rare opportunity to acquire a large property in the wealthiest county in New Jersey,” noted Cushman & Wakefield’s Gary Gabriel, who headed the assignment with Metropolitan Area Capital Markets team members Andrew Merin, David Bernhaut, Brian Whitmer and Ryan Dowd. “We ran the process as one that would enable Edgewood to sell the property but maintain its operation as a premier country club and golf course.This was the fastest closing, from start to finish, we have ever seen.”

The new ownership’s long-term improvement plan will position Edgewood Country Club as a world-class country club that features exceptional facilities and new family programming at Edgewood. Future plans include a redesign of its golf course and the development of a portion of the Club’s excess land.

“I can count on one hand the number of times in decades that 185 acres has come up for sale in Bergen County, and the Witmondt and Schonbraun Families capitalized on it. They bring long and successful track records within the golf club and real estate industries,” Gabriel said. “Edgewood benefits from its outstanding location amongst New York City’s wealthy bedroom communities, the density of its surrounding neighborhoods and its proximity to New Jersey’s major transportation arteries. It is destined to continue its long-history of success under the confidence of new ownership that is committed to creating a best-in-class country club.”

Based in East Rutherford, New Jersey, Cushman & Wakefield’s Metropolitan Area Capital Markets Group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, Fairfield County, Connecticut, Pennsylvania, and Delaware. The team has completed more than $20 billion worth of transactions since 2000.

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About Edgewood Country Club

Founded in 1956 on the grounds of two former pre-Revolutionary War farmsteads that were later converted into a country manor estate, Edgewood Country Club offers distinctive facilities in a warm, but sophisticated, setting. The club’s jewel is an impeccably-maintained, 27-hole golf course, staffed by PGA-certified golf pros. Other club features include six Har-Tru tennis courts, a comprehensive tennis instruction program for players of all ages, and the Club’s infamous Midway Bar & Grill. It also boasts one of New Jersey’s largest heated swimming pools, a cardio and strength training fitness facility, and a newly decorated clubhouse for both member and non-member dining and special events. The clubhouse, which offers fine dining and gracious service, is host to many events such as weddings, golf outings, banquets, bar mitzvahs and other parties for up to 400 guests. For information about membership or events call Edgewood County Club General Manager Dan Rogers at 201-666-1201.

About Cushman & Wakefield

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