BURKE — The court-appointed receiver for Burke Mountain Hotel and Conference Center said Wednesday he is in the final stages of completing a sale, rejecting public overtures from Todd Firestone.
Michael I. Goldberg, who oversees the property seized in the $200 million EB-5 fraud case involving former Jay Peak Resort owners, said he worked with the Firestone Group for nine months before negotiations collapsed.
“At the last minute they attempted in bad faith to renegotiate a lower price after we had already reached agreement on terms and spent thousands of dollars finalizing a contract,” Goldberg said in a written statement.
Goldberg said he is now finalizing a contract with a different buyer at a higher price than Firestone’s publicized $10 million offer. The new buyer will not require contingencies and has committed to investing millions in snowmaking and other improvements, according to Goldberg.
The receiver described the new potential buyer as having “deep roots in the community” and being “much more credible and financially capable.”
The Burke Mountain Hotel was part of the fraud case brought by federal and state authorities in April 2016. The case also involved several Jay Peak Resort developments and the proposed AnC Bio facility in Newport.
Goldberg has not identified the new buyer or disclosed the potential sale price.
