Auction Brings $368M for 23 Shabsels Camps Amid Bankruptcy Chaos
Following a bankruptcy filing, 23 camps tied to the Shabsels were sold at auction for $368.3 million, with four additional properties sold privately for $71.7 million; total debt was reported at more than $344 million and a DOJ investigation has begun. High-profile bidders included David Zaslav (Mohawk Day Camp) who offered about $68 million but the camp sold for $120.8 million to FitzWalter Capital Partners. Some camps went to current operators or nonprofits, while others remain in flux, including Camp Lavi. Philanthropist David Greenfield explored nonprofit purchase options but time and process constraints limited success. The deals underscore the aging infrastructure of many camps and questions about profitability in the philanthropic camp sector.
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- Simad’s summer camps prove a bankruptcy gold mine, fetch $368M The Real Deal
- David Zaslav’s Summer Camp Dreams Fizzle Out hollywoodreporter.com
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- Two Shabsels summer camps in Greene County to sell for $15.15M - Albany Business Review The Business Journals
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