Oct 21, 2026 · 6 min · 8 segments
A Central New York landmark faces an uncertain future as Sylvan Beach Amusement Park becomes caught in a multimillion-dollar foreclosure battle involving its landlord, Douglas Waterbury…
The future of Sylvan Beach Amusement Park is uncertain as a foreclosure case involving its landlord, Douglas Waterbury, moves forward in court.
The popular lakeside amusement park is among several properties facing possible foreclosure and sale as part of a legal battle that began in 2024.
The lawsuit was filed by GreenLake Associates against Waterbury, his wife Carol, and several affiliated companies.
The lender claims Waterbury fell behind on payments involving a $2.6 million loan.
But that original debt has now grown significantly.
In January 2026, a judge ruled in favor of the lender.
A court-appointed referee later determined that Waterbury owed approximately $5.3 million.
The referee recommended selling properties across four central New York counties to satisfy the debt, beginning with properties in Oneida County.
That includes Sylvan Beach Amusement Park.
Another major attraction named in the foreclosure proceeding is the Sterling Renaissance Festival.
However, Waterbury's attorney, Ryan Susser, is challenging the amount owed.
Susser argues that the debt should be closer to $2.7 million, claiming that excessive interest and additional financing charges improperly inflated the total.
He also alleges that some of those charges violate lending laws.
Waterbury has said that he and his companies are working to restructure their debt and meet their financial obligations.
He maintains that his businesses are continuing to operate normally, with one notable exception.
Santa's Workshop, the Christmas-themed amusement park in Wilmington, New York, has announced it will not open for the 2026 season.
The park cited staffing shortages that would prevent it from operating safely.
Officials say customers with existing reservations will receive refunds, and the attraction hopes to regroup for 2027.
Santa's workshop is not included in the foreclosure proceeding.
Meanwhile, Waterbury continues to face separate legal troubles.
He has pleaded not guilty to several pending criminal charges, including stalking, attempted rape, attempted witness bribery, and patronizing a person for prostitution.
He also settled two sexual abuse lawsuits in 2019 involving allegations of harassment and threats against tenants.
That settlement included an $850,000 payment and restrictions on his contact with tenants.
As the foreclosure case continues, the biggest question for the Sylvan Beach community is what happens next.
A court hearing is scheduled to address the future of the properties.
The future of Sylvan Beach Amusement Park is uncertain as a foreclosure case involving its landlord, Douglas Waterbury, moves forward in court.
The popular lakeside amusement park is among several properties facing possible foreclosure and sale as part of a legal battle that began in 2024.
The lawsuit was filed by GreenLake Associates against Waterbury, his wife Carol, and several affiliated companies.
The lender claims Waterbury fell behind on payments involving a $2.6 million loan.
But that original debt has now grown significantly.
In January 2026, a judge ruled in favor of the lender.
A court-appointed referee later determined that Waterbury owed approximately $5.3 million.
The referee recommended selling properties across four central New York counties to satisfy the debt, beginning with properties in Oneida County.
That includes Sylvan Beach Amusement Park.
Another major attraction named in the foreclosure proceeding is the Sterling Renaissance Festival.
However, Waterbury's attorney, Ryan Susser, is challenging the amount owed.
Susser argues that the debt should be closer to $2.7 million, claiming that excessive interest and additional financing charges improperly inflated the total.
He also alleges that some of those charges violate lending laws.
Waterbury has said that he and his companies are working to restructure their debt and meet their financial obligations.
He maintains that his businesses are continuing to operate normally, with one notable exception.
Santa's Workshop, the Christmas-themed amusement park in Wilmington, New York, has announced it will not open for the 2026 season.
The park cited staffing shortages that would prevent it from operating safely.
Officials say customers with existing reservations will receive refunds, and the attraction hopes to regroup for 2027.
Santa's workshop is not included in the foreclosure proceeding.
Meanwhile, Waterbury continues to face separate legal troubles.
He has pleaded not guilty to several pending criminal charges, including stalking, attempted rape, attempted witness bribery, and patronizing a person for prostitution.
He also settled two sexual abuse lawsuits in 2019 involving allegations of harassment and threats against tenants.
That settlement included an $850,000 payment and restrictions on his contact with tenants.
As the foreclosure case continues, the biggest question for the Sylvan Beach community is what happens next.
A court hearing is scheduled to address the future of the properties.
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