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FAR HILLS, NJ-Lucent Technologies, the struggling telecom giant in the throes of a major restructuring, has finally done something that made it some money – albeit “pocket change.” The company has sold its controversial, high-priced ($40 million) Hamilton Farm Golf Club for an estimated $51 million.

Lucent had taken plenty of criticism for spending so much money to transform the former estate of financier James Cox Brady into an exclusive 5,000-acre golfer’s playland with two 18-hole courses, an executive course, guest suites, and even a helipad. The buyer of this golfing magnificence is Townsend Capital, based in Towson, MD, which plans to operate as an exclusive private club.

Lucent execs barely had time to call Hamilton Farm Golf Club their own: the sale closed earlier this month, less than a month after it had its grand opening. And, yes, Lucent execs will have to fork over $250,000 or more for individual memberships in the club they briefly enjoyed as their own.

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