CEDAR, Mich. – A once-popular former ski resort in northern Michigan has been sold, again. The Sugar Loaf property in Cedar was sold to a private buyer, according to a report in the Traverse City Record-Eagle published Tuesday. Sugar Loaf, northwest of Traverse City, was once the county’s largest employer. Real estate developer Jeff Katofsky bought Sugar Loaf in 2016 with plans to invest $134 million into the property and turn it into a year-round high-end resort. Related: Alpine Valley ski resort prepares to open