{"id":35067,"date":"2020-07-16T15:27:46","date_gmt":"2020-07-16T19:27:46","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=35067"},"modified":"2020-07-16T21:22:42","modified_gmt":"2020-07-17T01:22:42","slug":"owner-of-altamont-company-has-possession-of-saratoga-polo-club-future-yet-uncertain","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/07\/owner-of-altamont-company-has-possession-of-saratoga-polo-club-future-yet-uncertain\/","title":{"rendered":"Owner Of Altamont Company Has Possession Of Saratoga Polo Club; Future Yet Uncertain"},"content":{"rendered":"<figure id=\"attachment_35068\" aria-describedby=\"caption-attachment-35068\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-35068\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/polo-hc-1024x734.jpg\" alt=\"\" width=\"1024\" height=\"734\" srcset=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/polo-hc-1024x734.jpg 1024w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/polo-hc-300x215.jpg 300w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/polo-hc-768x550.jpg 768w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/polo-hc.jpg 1518w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-35068\" class=\"wp-caption-text\">The deed to the historic Saratoga Polo Club was turned over in April to Carver Laraway, owner of Altamont-based Carver Companies after the auction process failed.<br \/>\u00a92020 Saratoga Photographer.com<\/figcaption><\/figure>\n<p>By Christine Graf<br \/>\nIn April, Saratoga Polo Association owners Jim Rossi and Mike Bucci turned over the deed to the historic club to Carver Laraway, owner of Altamont-based Carver Companies.<br \/>\nAlthough Laraway\u2019s plans for the 43-acre property remain uncertain, many local residents are hopeful it will remain a polo club. Located on Bloomfield Road in the town of Greenfield, just west of Saratoga Springs, Saratoga Polo Club is one of the oldest in the United States. It was founded in 1898 by William Collins Whitney, a financier, politician and owner of thoroughbred horses.<br \/>\nRossi and Bucci purchased the club for $1.2 million in 2004. Although they were successful in increasing attendance and sponsorship revenue, they were plagued by financial problems. They were also unsuccessful in efforts to develop apartments and condominiums on the property. <!--more--><br \/>\nIn March 2018, Pioneer Bank initiated foreclosure proceedings on Saratoga Polo\u2019s $3.2 million loan. Foreclosure was halted after Laraway guaranteed the loan.<br \/>\n\u201cSaratoga Polo fell on hard times last year and went through a foreclosure process in summer of 2019,\u201d said T. Padric Moore, the Clifton Park attorney who represented the owners. \u201cAround November of 2019, we struck a bargain with the guarantor and successor mortgagee, Carver Laraway, whereby we were given six months to sell property free and clear of all liens.\u201d<br \/>\nIn February 2019, club owners hired an online broker to auction off the property. Bidding for the property started at $4.3 million, well below it\u2019s previously appraised value of over $6 million.<br \/>\nMedia reports earlier in the year said there was some consideration to a 2020 polo season, but those plans never moved forward.<br \/>\n\u201cWe tried to auction off the property, but the auction process failed. We had some interested purchasers, but because of COVID 19, we lost all of our purchasers. In accordance with our settlement agreement that we had reached with Carver Laraway, we turned the deed over to Mr. Laraway\u2019s company.\u201d<br \/>\nLaraway operates several companies including Carver Construction and Carver Sand and Gravel. In 2007, he purchased the Port of Coeymans, a deep water marine terminal located 10 miles south of Albany on the Hudson River.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Christine Graf In April, Saratoga Polo Association owners Jim Rossi and Mike Bucci turned over the deed to the historic club to Carver Laraway, owner of Altamont-based Carver Companies. Although Laraway\u2019s plans for the 43-acre property remain uncertain, many local residents are hopeful it will remain a polo club. Located on Bloomfield Road in [&hellip;]<\/p>\n","protected":false},"author":196,"featured_media":35068,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-35067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Owner Of Altamont Company Has Possession Of Saratoga Polo Club; Future Yet Uncertain - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/07\/owner-of-altamont-company-has-possession-of-saratoga-polo-club-future-yet-uncertain\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Owner Of Altamont Company Has Possession Of Saratoga Polo Club; Future Yet Uncertain - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"By Christine Graf In April, Saratoga Polo Association owners Jim Rossi and Mike Bucci turned over the deed to the historic club to Carver Laraway, owner of Altamont-based Carver Companies. Although Laraway\u2019s plans for the 43-acre property remain uncertain, many local residents are hopeful it will remain a polo club. Located on Bloomfield Road in [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/07\/owner-of-altamont-company-has-possession-of-saratoga-polo-club-future-yet-uncertain\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Saratoga Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2020-07-16T19:27:46+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2020-07-17T01:22:42+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2020\/07\/polo-hc.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"1518\" \/>\r\n\t<meta property=\"og:image:height\" content=\"1088\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"jessewinters\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"jessewinters\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/07\/owner-of-altamont-company-has-possession-of-saratoga-polo-club-future-yet-uncertain\/\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2020\/07\/owner-of-altamont-company-has-possession-of-saratoga-polo-club-future-yet-uncertain\/\",\"name\":\"Owner Of Altamont Company Has Possession Of Saratoga Polo Club; 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