A father-and-daughter investment team from Chelsea, Massachusetts, have purchased the Phoenix Inn Hotel in North Creek for $1.94 million, marking the second ownership change for the Adirondacks resort in three years. Buhai Ren and his daughter, Zihan "Hannah" Ren, acquired the 31-room hotel from Diana Espalza. The transaction closed Feb. 1. Broker Mitch Muroff of Muroff Hospitality Group represented the seller and secured the buyer. The acquisition was financed with a mortgage through Celtic Bank Corp. of Salt Lake City, Utah. The 2.33-acre resort, located 3 miles north of Gore Mountain Ski Resort, features close to 7,500 square feet of meeting, restaurant and event space including a ballroom for up to 300 guests. "We had three or four serious inquiries in a relatively short amount of time," Muroff said. "A few offers came in after the property already was under contract." Muroff listed the Phoenix Inn for sale June 15 and the Ren family signed a letter of intent to buy the property three months later. Formerly known as the Copperfield Inn Resort, the boutique hotel underwent more than $1 million in renovations after Espalza bought the property in December 2019 from Michael Ellis and Copperfield Resorts LLC. Espalza […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
