Going, going, gone! Developer to auction off Carnegie Abbey Club

PORTSMOUTH, R.I. — The leasehold rights for the Carnegie Abbey Club, a private sporting estate along Narragansett Bay with tennis courts, equestrian facilities, and an 18-hole golf course, will be sold at auction, reports The Providence Journal.

JJ Manning Auctioneers will auction off the lease rights for the property, located at 125 Cory’s Lane and previously developed by J. Brian O’Neill, to the highest bidder or bidders on Dec. 4 at 2 p.m. at the Golf Clubhouse at 125 Cory’s Lane, Portsmouth. The auctioneer suggests entering 300 Willow Lane for GPS coordinates.

The Massachusetts-based auctioneer lists the property as a

“Prestigious Country Club with 18-Hole Donald Steel Links Golf Course

With Spectacular Views of Narragansett Bay

Land for Potential Development, Clubhouse, Marina, Equestrian Center, Liquor License

Leasehold & Fee Interests in ‘The Carnegie Abbey Club’

Minutes from Newport Shops, Restaurants & Beaches”

A bidder tour will be held on Tuesday, Nov. 27, from 2 to 4 p.m.  More information will be available, including terms, according to the auctioneer website.

It is unknown if the auction will sell the property rights entirely outright or break up the property, which is valued at more than $4.4 million with three buildings.

Vision Appraisal lists the owner of the Carnegie Abbey Club as Carnegie Abbey Club Acquisition I LP of King of Prussia, Pa., a company used by the O’Neill Properties Group, according to The Providence Journal.

This is the latest real estate transaction of an O’Neill property. Velocity NBC LLC acquired the Newport Beach Club, a residential community in Portsmouth, for $10.225 million this past August. JJ Manning Auctioneers also recently auctioned off a stretch of undeveloped land near Weaver Cove and Burma Highway.

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