Renowned Phoenix Mountain, Known by Scientists as the Rocky Mountain of the East – 1-1/2 Mile Sheer Cliff Face – To Auction

CHICAGO, Ill., Oct. 7 /PRNewswire/ — Sheldon Good & Company International (www.sheldongood.com), the nation’s largest real estate auction company, announced that the auction deadline of a 477-acre tract of land on the summit of Phoenix Mountain is November 15th. The property is one of the last, vast undeveloped tracts of property for sale in the northwest mountains of North Carolina. With an altitude of approximately 4,600 feet, a mile of highway frontage, only two miles from a high-growth, historic village, no zoning restrictions, and an airport that can accommodate corporate jets within three miles, Sheldon Good officials state that the property offers unlimited development potential. Importantly, the auction is the singular opportunity to purchase the land as an investment.

Bids are due no later than 3 p.m. CST on Tuesday, November 15th at Sheldon Good’s Chicago office, 333 W. Wacker Drive, Chicago IL 60606. A certified or cashier’s check in the amount of 5% of the total bid amount is required for bid consideration. On-site inspection dates: October 8th, 14th and 24th and November 3rd and 9th at noon. Please confirm your attendance 48 hours in advance to ensure an available number of four-wheel drive vehicles.

In announcing the extension of the auction deadline, Alan R. Kravets, President of Sheldon Good & Company, said: “Due to new information regarding the availability of city water and sewer allocated to the development of the property; and therefore an expressed need from a number of interested parties for more time, the auction date has been postponed for 30 days.”

Along with the benefit of no zoning regulations for the county in which this property is located, Mr. Kravets further noted that the Town of Jefferson has allocated up to an estimated 150,000 gallons per day of water and sewer capability for a development at this site. This will support a large ski resort, an estimated 1,800 residents and a large hotel complex.

Earlier, Mr. Kravets said: “This unprecedented land auction offers the astute investor and/or developer an outstanding opportunity to name their price on a premium 477-acre mountaintop property that is highly versatile. It has an unparallel potential as a ski resort and for a host of hotel and resort uses.”

The parcel is on the summit plateau of Phoenix Mountain and is the last of its type in the northwest mountains of North Carolina. With an altitude of 4,600 feet, a mile of highway frontage, magnificent views, and no zoning restrictions, the property offers unlimited development potential.

The property’s open zoning provides the new owner unlimited development options, including the potential to build a premier ski destination with a charming European Alpine-style ski-in, ski-out village, corporate retreat, a residential development opportunity for luxury vacation or retiree and family residences and villas or to preserve the land as a sportsman’s club or nature conservancy.

As an investment, certain portions of the property that would not affect its value as a development could be donated to provide significant immediate tax benefits for the purchaser.

In considering the property for ski resort utility, the property is possibly the most perfect location for a ski resort in the southeast U.S. and has the potential for a three-mile single run, which would be the longest ski slope in the region. The length of the run, the mountain’s elevation, excellent interstate access, close proximity to major southeast cities, and only three miles from Ashe County airport capable of accommodating most corporate jets, would immediately separate the property from its competition.

In addition, multiple financial models are available to support the property’s outstanding potential for resort and/or community development.

The property lies in the Appalachian Mountain Range and is flush with unique and highly distinctive natural characteristics, all coveted by buyers should the mountain be subdivided and developed as an exclusive enclave of luxury homes, or a privately owned mountain estate, or used by visitors as a four-star ski resort.

Distinctive aspects of the property consist of unspoiled trout streams, lush forestlands, a 3/4 mile, 300 ft.-400 ft. cliff face, elevations from 3,000 ft. to 4,600 ft. and numerous indigenous species of flora, including wild orchids and morel mushrooms. The mountain is also home to an abundance of wildlife including quail, grouse, turkey, red-tailed hawks, whitetail deer and black bear.

Phoenix Mountain is well situated in the tri-state area of North Carolina, Tennessee, and Virginia. The property is easily accessed via interstate or by air via Ashe County Regional Airport. Nearby cities include Charlotte (two hours), Greensboro-Winston-Salem-High Point (one-and-one-half hours), Raleigh- Durham-Chapel Hill (three hours), Atlanta, Hilton Head (five-six hours), and Cincinnati (six hours).

Jet Flight estimated times — From the cities listed above, the property can be easily accessed by a short 20-45 minute flight via jet and is only one hour from Manhattan (Teterborough), Naples (one-and-one-half hours), Nassau, Bahamas (two hours), and Grand Cayman (three hours).

About Sheldon Good & Company Auctions:

Sheldon Good & Company Auctions (www.sheldongood.com), America’s Real Estate Auctioneer, in the past has been rated as the largest real estate auction company in the United States by a number of prestigious publications. The company has aggregate sales of over $8 billion. For further information, please call Sheldon Good & Company Auctions at 1-800-315-2199.

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