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February 22, 2008

Western Maine ski resort goes up for sale

Mount Abram, a ski area in Greenwood, is up for sale with a price tag of $1.8 million.

The 44-trail ski mountain went up for sale last month with no publicity, the Portland Press Herald reported. "We think the time is right," Mt. Abram owner Josh Burns told the paper. "We've done a lot to the mountain. We think new owners can come in and take it to the next level." Burns bought the 644-acre property in 2000 at a foreclosure auction for $325,000 plus back taxes, and has invested around $900,000 into the ski area, including refurbishing facilities and installing a new chair lift.

Dan Greenstein, who is listing the property at CB Richard Ellis/The Boulos Co., told the paper that cash flow from skiing will support the $1.8 million purchase price. The property is being marketed to ski operators throughout the Northeast and eastern Canada.

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