In Brief: South Street Partners has acquired Crystal Springs Resort in Sussex County, New Jersey, from the founding families who have owned and operated the property since 1995.
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Courtesy of Crystal Springs Resort
South Street Partners, a private equity real estate investment firm, has acquired Crystal Springs Resort in Sussex County, New Jersey. The 1,400-acre property was purchased from the founding families who have managed the resort since it opened in 1995.
Crystal Springs Resort is located about 50 miles from Manhattan and is considered New York’s closest all-season resort. The property includes two hotels and six championship golf courses, including Ballyowen, which is consistently ranked as New Jersey’s top public golf course by Golfweek. The resort features ten dining venues, including Restaurant Latour, a Wine Spectator Grand Award recipient, and a wine cellar. The property also offers 100,000 square feet of meeting and event space.
Amenities at Crystal Springs Resort include a 30,000 square-foot sports and fitness center, nine indoor and outdoor pools, and a variety of outdoor activities. The resort is near four major airports and is approximately an hour from Manhattan.
Crystal Springs Resort hosts the New Jersey Food and Wine Festival, which features Michelin Star chefs and winemakers. The property is located in a region known for Appalachian landscapes, historic small towns, and geological formations. The area offers a rural setting near major metropolitan areas, with approximately 14 million people living within 50 miles, 29 million within 100 miles, and 50 million within 200 miles.
This acquisition is South Street Partners’ first property in the New York metropolitan area. No financial terms of the transaction were disclosed.
