Sherman’s not opening, up for sale
Owners asking $3M for Caroga amusement parkBy ZACH SUBAR, The Leader-Herald
Article Photos
CAROGA - When George Abdella bought Sherman's Amusement Park in 1989, he and his family went to work, making major renovations to the merry-go-round, surrounding buildings and all other parts of the facility.
The park, first built in 1920, became a place to enjoy a summer day on Caroga Lake. Now the buildings sit dormant. The merry-go-round and Ferris wheel stand still, and the park has no patrons.
It does not stand that way today because of neglect-on the contrary, residents say, the property remains attractive to the eye. It's just that the Abdellas have put the property up for sale, and it will not be open this summer.
"It's very bittersweet," Abdella said. "We put our heart and soul into the place. It was always a labor of love."
Abdella said he and his wife had hoped to lease the property to another party so they would not have to work so hard at maintaining it. They later figured, though, that they would still be doing a similar amount of work even if they leased it, so they instead put it on the real estate market so they could spend more time with one another and with their family.
The property is now listed at $3 million by Dolgeville Mill Real Estate, and there have been no takers so far. Realtor Fred Delucco could not be reached for comment.
Fourth of July fireworks that normally take place at the park instead will happen at Pine Lake this year.
"It's a major loss for the town," Supervisor James Selmser said of Sherman's being closed this summer.
Selmser said Sherman's used to be a major employer in the town and used to attract people "like a magnet" from all over. The Abdellas, he said, had done a good job improving the facilities and making it as presentable as possible.
The property, Selmser said, could be used for a variety of things. Its real estate listing says it has a two-story entertainment pavilion and a restaurant kitchen in additional to its rides and lakefront location.
He said a potential buyer also could construct infrastructure for an RV area at the site, and said it could also be turned into a housing development.
"It still has a lot of possibilities for entertainment and either a dining or party atmosphere, so potentially it could be used, and we hate to see it not be used in some capacity," Selmser said. "Usually what happens, a lot of times, is that after a couple of years it becomes less and less viable and people tend to forget about it, which we hope is not going to happen."
Still, Selmser said, the best possible scenario would be for the amusement park to remain an amusement park so a festive atmosphere can be maintained at the property on the shores of West Caroga Lake.
Janet Shepard's grandfather, Frank Shepard Sr., was the original owner of Sherman's, and Shepard grew up working at the park.
News of the park's potential sale, she said, is bittersweet. But things change, she said, and she has accepted that.
"We had the most wonderful childhood that anyone could have working there," Shepard said.
Zach Subar covers rural Fulton County news. He can be reached at ruralnews@leaderherald.com
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JtownBob
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07-02-09 3:10 PM
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well, if Abdellas hold on to it long enough, maybe they can strike a deal with the Town so the Town can run it. A somewhat similar arrangement is working for Oak Mountain ski cneter in Speculator. It is a shame the way it is, as being vacant is certainly not going to do anybody(the town, the residents, the Abdellas) any favors.
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MJScritic
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07-02-09 2:54 PM
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Like I said though, they most likely won't get 3 million. I know the details and the taxes and insurance. Yes, nothing is comparable to oceanfront!! Yet, people still shell out money for lakefront property. Also, a note on dissing my town... we all know Caroga is going downhill haha, just like every other town in NY. However, we still have tons of summer people flocking here each summer. I do agree with you Jtown, as a business standpoint, you will spend more money on the place faster than you can make it. Still ashame we can't open it up here. Summer tourist had the best stories about Sherman's while they grew up. Plus the loss of the fireworks this year.
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JtownBob
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07-02-09 2:28 PM
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ok, from a standpoint of the business as it is today, not worth the $3M. "if" somebody bought it for that price, the loan itself would be $12K/month for 30 years. At 3M assessment, the place would have $180K a year in tax, or more than $12K month. Add insurance, etc, and you're looking at $25-30K/month overhead. You'd have to be one shrewd businessman to pull off anything there that would do that. not going to happen. And a last note- Carogafront is NOT COMPARABLE to Oceanfront- that thought is laughable!!!Sorry to dis your town, but its time to be real.
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MJScritic
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07-02-09 11:44 AM
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Jtown... it is worth 3mill. I have lived here in Caroga all my life and I've actually worked at Sherman's right up to the day we closed it up. I also come from a strong real estate family. I do agree that George and Ruth won't be able to get 3 million, but because of the rides, property, and history it jacks the price way up. Originally they wanted 5 million, but the realtor shot it down. The thing that really cost a lot are the rides alone, everything is original. It took about 3 to 5 years for Guy Parenti and the Abdellas to find most of the rides to rebuild them. Trust me I know a lot going on with this. Small town, so things get around =).
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rachelrae33
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07-02-09 11:13 AM
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What does Obama/Patterson or being a republican have to do with Shermans? Instead of splitting hairs, how about everyone admit its all of their faults?!?!? Taxes and fees are through roof and insurance premiums are at an all time sue happy price!!!! We are the least free state in the Union so we have the most fed/state regulations also. You people want to point fingers and then nothing gets done. How many of you have protested anything that Pres. Obama, Gov. Patterson and/or the republicans have done lately. Your'e a bunch of Monday morning quarters backs who sit back and tear everything apart. How about getting up from your computeres and tv's and trying to build something. There is also another small business in Caroga Lake that might not get off the ground because of politics, fees, regulations, small town small mindnes, etc... It is a perfect opportunity to help and make your voice heard.
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FBhunter
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07-02-09 9:42 AM
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The fact of the matter is...everyone needs to make a buck; even lawyers! I have soo many memories of Sherman's from my childhood. It almost makes me wish I had 3 million dollars.
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JtownBob
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07-02-09 7:12 AM
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MJS..dead wrong. Not worth even close to 3 million..Ask the realtor how many offers he's received..And I happen to know a thing or two about real estate.
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MJScritic
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07-02-09 2:44 AM
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Sherman's is is worth 3 million. hate to break it to the people we do not know real estate, nor caroga lake. the objects that are at sherman's raises the price tag on it. Also the land it sits on is oceanfront. The buyer would also receive the land around from the lake road and the main road behind the post office. It may not look to be worth 3 mil, but it is.
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Discobulous
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07-01-09 11:01 PM
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I put the penny in the slot and the fortune teller dropped out a ticket with my fortune in it. Remember that one in the arcade? I wonder what the penny fortune teller's opinionis of the three mill, and yes, it was Frank Sherman, not Shephard. He was a nice guy. For a lot of poor kids, one day at Sherman's every summer was almost as good as Christmas.
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Hilltopper
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07-01-09 9:28 PM
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What's the difference between a lawyer and a Caroga Lake bullhead ? One is a bottom feeder, the other is a fish.
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rebecca
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07-01-09 9:18 PM
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If that's worth 3 Million, then my parents place in Ephratah is worth 1.2! You should see it! Open House this Sunday! Seriously, I can show you a SUCCESSFUL business (Kenny's, Onset, MA) on the CAPE that's on the market for only 1 Million! P.S. Please let them know I referred you! Happy Independence Day!
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FireKatt
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07-01-09 9:11 PM
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this is too bad. I had some great times around Shermans and the area as a teen.
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kaydont
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07-01-09 6:06 PM
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ANY BUYER BEWARE. Over where the lakes meet a nice couple want to open a marina with a grocery area, luncheonette and have gas pumps. Everyone here has known they were sinking tons of cash into this place and what happened? They were told yes to the marina but no to any other endeavors. Face it the narrow minded few that run this town (into the ground) don't want anyone to make money but THEM and THEIR businesses. I hear they bought the place for around $270,000...but want 3 mil. Also thanks to the Leader for now being real estate advertisers.
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Joseph
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07-01-09 5:49 PM
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Hoffman's Playland is still a booming business and it is very similar to what Sherman's was and could be again. Maybe they should purchase and reopen.
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TraditionLeatherSucks
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07-01-09 5:29 PM
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who is frank shepard sr i think the leader herald means frank sherman sr don't ya leader herald
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DadsDeadbeat
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07-01-09 5:18 PM
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Racingman, will you be signing autographs in mustard while you eat dogs from 2 to 4??
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stratford
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07-01-09 5:03 PM
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The problem in futon county is it is run by a bunch of republicans that would like to see obama fail so bad they will bankrupt fulton county. They would rather look good to their buddy republicans then help people out. If you want fulton county to have a chance of a future think about voting ROW A
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IKnooow
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07-01-09 3:06 PM
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I don't think Obama ever went to Shermans. If I had the money I would restore Shermans to a simple amusement park like it was in the 50s, let grandparents bring their kids and grandkids for the nostalgia and simpler pleasures. It would be awesome to have a place where you could get an ice cream cone or bag of popcorn at fifties prices, ride the carousel and ferris wheel, and listen to some old-timey music. Make it like a living museum, sort of like Plimoth Plantation in MA. If I had the money.
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Al6464
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07-01-09 2:54 PM
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Sherman's: Another Obama/Paterson success story...
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brucinus
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07-01-09 1:53 PM
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What Shermans needs is someone who has experience managing a large entertainment venue. On crowded nights the staff seemed to be in over their heads. I think the asking price is unrealistic in this economy plus without having the doors open an investor will not be able to see the potential for the site as it is now. It will probably be bought by a developer when the real estate market turns around. Hopfully not the current listing realtor. We do not want his type in Caroga.
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LHReader
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07-01-09 1:39 PM
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I somewhat agree, but there could be changes made to make more interesting/appealing for all ages. I know of many people who loved Sherman's...... years ago. The area itself isn't the greatest anymore, mostly rundown, lake isn't on a large scale with few surrouding/supporting business'. That will hurt Abdella with asking price/sale. What was fun to many once upon a time needs to be updated or changed into something else.
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gahumbert
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07-01-09 1:27 PM
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Ohwell,whata shame. tear this down and build some money making condo's
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racingman
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07-01-09 1:27 PM
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If I can line up the financing I will tear down the entire park and put a racetrack there. This is Pat Mcspirit the racing man from Mayfield and don't forget to come to my autograph session on Saturday July 4th between 2-4:00 at Big Mikes.
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ipaymyway
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07-01-09 1:13 PM
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its a shame, but that isnt a form of fun for younger people. when i was a kid it was a treat. with video games and cell phones a simple ride on the tiltawirl isnt a thrill. simple family fun is a thing of the past. caroga lake has finally died. too bad
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jimsanya
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07-01-09 12:43 PM
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It was the greatest place to go when I was a kid. If they could not find me around the camp, they would go to Sherman's to find me. I would toss pennies with the employees when times were slow, wander the area for dropped coins, and search the penny arcade for free games. Now, far away living in Alaska, I still think of the place. It will never be the same as before, but it would make a really nice park.
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