Unibail-Rodamco-Westfield sells Long Island mall for $29.7M
The 16.8-acre Woodbury Country Club was bought by a New York City-based private equity firm, Long Island Business News reported. The longtime catering venue will close its doors on Nov. 30. Its new owners — a joint venture between the current owners and a New York-based private equity fund — plan to turn the property into a townhome community. The terms of the sale weren’t immediately disclosed. The Passavia family, which has owned the club for more nearly 50 years, had planned to redevelop it 80 townhomes about a decade ago. The project never materialized, but the family got a special permit to change the land’s zoning to multifamily. That permit, which allows for up to 10 units per acre, was renewed every year since the family procured it. [LIBN]
