Peninsula Golf Club shareholders will meet next week to discuss the potential sale of the Massapequa nine-hole golf course to a Florida firm, Newsday reported on Thursday.
On the table is a $4.4 million offer from the Florida company for the 50-acre property, which must remain a public golf course, according to Nassau County covenants. The shareholder meeting is scheduled for March 18.
In a Feb. 15 letter to shareholders of owner P.G.C. Holding Corp., company president Nicholas DeSibio, a Hewlett-based attorney, wrote that a $4.4 million offer had been made for the approximately 50-acre, nine-hole golf course.
"Our board members and officers believe that the ’91time has come,’92 as we are having difficulty devoting the time to manage the operation," DeSibio wrote.
DeSibio said in an interview Thursday that the price was good "only as a golf course" but he wanted to see whether the stockholders agreed. The proceeds would be distributed to its 68 stockholders, according to the letter. — Ted Phillips, Newsday, 3/11/21
At least one shareholder has already voted against the current offer and asked the ownership company president for a renegotiated price.
Both the golf course itself and the golf club that operates it have roots as far back as the 1920s. Originally the Nassau Shores Country Club, the golf course emerged during the 1920s building boom and fell victim to post-Depression financial distress — the club went bankrupt in the 1940s and the course was neglected. Meanwhile, a group of Nassau County golfers who formed their own club while caddying at Rockaway Peninsula golf courses in the 1920s — hence the name Peninsula — swooped in to purchase the Nassau Shores course in 1946.
For more on Peninsula, see the course flyover.