Vernon, NJ – Overshadowed by its larger neighbor, a ski area with a 37-year history in Vernon is going on the auction block for the second time in seven years.
The state court liquidation proceeding will take place at 11 a.m. on Tuesday, Oct. 1 at the ski area, located on Breakneck Road in Vernon, less than an hour’s drive from New York City and only a mile from the much larger Mountain Creek Resort. The auction includes the ski area’s main lodge, bar/restaurant with liquor license, rental and maintenance facilities, along with all furniture, fixtures, equipment, trade names, goodwill and other rights.
Hidden Valley offers a 620-foot vertical drop, the second highest in the state. Four lifts access 12 lighted ski runs, all with snowmaking capability.
Founder Donald Begraft sought $6.2 million for Hidden Valley in a sheriff’s auction in 2007. When no bidders stepped forward, he sold the ski area to HV Real Estate Holding for $3 million. That company still owns Hidden Valley but Begraft, now 77, still holds the property’s current mortgage.
Any winning auction bid will be subject to court approval.