Home Economic Development Elmwood Country Club sold for $13 million to NJ real estate company

Elmwood Country Club sold for $13 million to NJ real estate company

SHARE

Elmwood Country Club in Greenburgh has been purchased for $13 million by Ridgewood Real Estate Partners, the same New Jersey real estate firm that last month bought the former Philips research facility in Briarcliff Manor.

elmwood country club layoff closingThe golf course’s management company, Elmwood Country Club Inc., sold the property to Ridgewood Elmwood Owners LLC, according to a deed recently filed in Westchester County. The buyer is a newly formed company with an address matching that of Florham Park-based Ridgewood Real Estate Partners.

In June, Elmwood Country Club filed a WARN notice with the state that the course had been sold and planned to lay off 76 employees by Sept. 30. Elmwood is a member-owned club on 100 acres of property between the Saw Mill River Parkway and the Sprain Brook Parkway on Dobbs Ferry Road. The club features an 18-hole golf course, tennis courts, an Olympic-size pool and a fitness center, according to its website.

The deal marks the second major purchase in Westchester for Ridgewood Real Estate Partners in the past two months. In July, Ridgewood closed on the vacant, 100-acre Philips Research North America campus at Briarcliff Manor for $12.2 million. The deal was its first acquisition in Westchester.

Jonathan Grebow, president and CEO of Ridgewood, told the Business Journal following that purchase that the Briarcliff Manor site would be converted to a residential community.

Grebow could not immediately be reached Tuesday for comment on plans for the Elmwood Country Club property.

Ridgewood was founded by Grebow in 2008. The company owns properties in seven states, including two golf courses in New Jersey and Pennsylvania that Ridgewood plans to redevelop as residential communities, according to its website.

Print Friendly, PDF & Email

LEAVE A REPLY

Please enter your comment!
Please enter your name here