Long Island Club, Wrecked by Madoff, Finds Buyer
North Shore CC, a 95-year-old club on Long Island that was decimated by the Bernie Madoff scandal and facing possible closure, has found a savior. Don Zucker, a New York real estate developer, has offered to buy the club from its members for $12.5 million. Details here in the New York Post.
According to the story, the club's membership rolls had declined from 175 to 110 in the wake of the Madoff financial bombshell ("Bernie did a lot of damage here," one unidentified member told the Post) and more than two dozen employees had been laid off.
But Zucker has big plans to revive the club, which has an A.W. Tillinghast desgined course, from cutting membership dues by 40 percent to adding amenities (like a luxury health spa). "I always wanted to own a golf course," Zucker told reporters.