Throwback Thursday – Hopelessly Overextended
Carl Fisher’s Montauk Beach Development Corporation went into receivership in May of 1932, leaving court-appointed custodians in charge of his holdings – the Manor, the Surf Club, the Montauk Downs Golf Club, the Montauk Yacht Club, and more. The properties were valued at about $10 million: Fisher and other investors had poured some $7 million… Read more »