Foreclosure includes Penn Yan property
The beleaguered tour boat the Keuka Maid and real property in Penn Yan are among the properties listed in a foreclosure notice filed last week in Chemung and Yates Counties.
The foreclosure, filed by ACM Browncroft LLC, looks to recover more than $1.8 million in unpaid loans held by Robert Pfuntner. Properties listed in the notice are all owned by Pfuntner and include the Keuka Maid, Waynco Radio, Pembroke Pines, Inc., Pembroke Pines Elmira and Pembroke Pines Ithaca and other properties in Horseheads and Elmira.
Tammy Havens, manager of The Boatyard Grill was not available for comment about the impact this development will have on the business formerly known as Sarrasin’s. However, Michael Linehan, CEO of the Yates County Chamber of Commerce, says Havens told him lease payments on the building are being made directly to the bank now.
What effect the foreclosure will have on the Town of Urbana’s attempts to evict Pfuntner’s three-story paddle wheel boat is anyone’s guess, according to town Supervisor John Webster.
“Well. It’ll make our job more interesting, won’t it?” Webster said. “But at this point, anything I could say would be total speculation.”
Urbana Town board members have been speculating for years in their dealings with Pfuntner.
The location of the Keuka Maid, moored near Champlin Beach on Keuka Lake, has been the subject of a number of lawsuits and appeals, going back to the fall of 2006, when the boat was ordered to stay in port because it did not meet federal safety standards.
In addition, Pfuntner tangled with the Town of Milo and Yates County Sheriff’s Office officials when he looked for permits to move the boat there, later unsuccessfully trying to ground the tour boat near his property in the town.
Urbana officials condemned the boat last year as a part of eviction proceedings, and two weeks ago a six-member jury sided with the town. The question may be whether the eviction proceeding can continue on a foreclosed property. “Well, that would be my first question,” Webster said. “I guess we’ll just have to see.”
The foreclosure also affects local radio stations in the Pembroke Group and a 7-acre lot next to the former Sarrasins Restaurant in Penn Yan as well as the restaurant building. According to the foreclosure notice, in 2009, Pfuntner reduced the sale price of the vacant lot from $3.2 million to just under $2 million.
While the recent action will take time to be resolved, a number of Pfuntner’s former assets are already in the hands of a receiver, including WVIN/WABH radio in Bath.
Details on any sale of those properties, which had been listed as loan collateral, are expected to be released soon, a Bath radio official said.
Includes reporting by Gwen Chamberlain