St. Zita’s Villa, a 13.95-acre property at 50 North Saddle River Road in Monsey, has been sold for $12 million to Suffern-based Developer GLP, LLC, brokered by Metrex Realty.
Immediately after the purchase, GLP, LLC sold 0.76 acres to Bobov for $2 million. The remaining land was transferred to RD Saddle River LLC, which entered a ground lease with GLP, LLC.
The property, featuring a 30,000-square-foot building, is zoned for residential development. St. Zita’s Villa, established in 1938. The new owners plan to develop multifamily housing on the site.
