Dwight Haldan and Jerad Boyd had applied to buy about 215ha at Harington Point, on Otago Peninsula, which includes Penguin Place, Toitu Te Whenua Land Information New Zealand (Linz) said.
The applicants satisfied Linz they intended to obtain New Zealand residency and reside in the country indefinitely.
They had incorporated a New Zealand company to settle the sale and purchase agreement for the property, Linz said.
Neither of the men could be contacted for comment yesterday.
However, in lieu of wedding presents for an August wedding, Mr Boyd, of Portland, Oregon, asked guests to contribute to his and his partner’s conservation advocacy fund.
The couple’s broader work would include "conservation, biodiversification and ecological development", but they were planning an initial focus on the highly endangered yellow-eyed penguin, the crowdfunding page said.
It included a link to a CNN story on Penguin Place and Dunedin conservation efforts to save the endemic species.
The crowdfunding page raised $US5250 ($NZ8830), but Linz listed the asset value of the property, including the surrounding sheep farm, at $4 million.
New Zealand Companies Office records show Mr Boyd and Mr Haldan have recently started Gentleman Tui, a sheep farming business.
They also started Gentlemen Tui Expeditions, a tour guide service.
Penguin Place co-owner Lisa King yesterday declined to comment at this stage of the process.
Last year, Mrs King, who owns the business with her brother, Brian McGrouther, said the impending sale was for personal reasons.
At the time, conservationists, including the Yellow-eyed Penguin Trust, said a huge debt was owed to the McGrouther family, who owned the landmark business.
Department of Conservation coastal Otago operations manager Annie Wallace said Doc was aware of the sale and had been briefly introduced to the new owners.
"We’re looking forward to working closely with them as they continue the valuable hoiho/yellow-eyed penguin conservation and rehabilitation work at Penguin Place.
"We want to acknowledge the important and abiding contribution to hoiho conservation made by the whole team at Penguin Place," Ms Wallace said.
