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Catskill's Friar Tuck Inn sold, ready to be redeveloped

Sep 24, 2020 5:47 am
Sarah Trafton is reporting for Columbia-Greene Media the vacant Friar Tuck Inn, located on state Route 32 in Catskill, has been sold for $5.8 million. The transaction took place in March, and transferred ownership to NY-32 Realty Group Inc., with Elena Fu named as the primary owner. Savarino Companies Director of Business Development and Finance Thomas Zawadski said the Mindfulness Resort will feature about 400 hotel rooms and amenities such as fishing, hunting, canoeing, horseback riding and ice skating, and possibly a water park as well, on 200 acres of land. Buffalo-based Savarino will serve as project manager. Details of the acquisition were released September 23. The price tag for the acquisition and development of the parcel will total $60 to $100 million, Zawadski said. Phase one is opening in March, with 100 available rooms. Greene County Industrial Development Agency Executive Director Rene VanSchaack is optimistic about the new project. “It’s been purchased by a new investor group,” VanSchaack said. “Myself and Warren Hart met with them once. They are in the process of putting together a strategy for the redevelopment of the resort.” Hart is the director of the Greene County Economic Development, Tourism and Planning Department. The Friar Tuck was opened in the early 1970s by New York City restaurant owner Salvatore "Rick" Caridi, who died in 2010, as the hotel and resort was going through a painful bankruptcy proceeding. Read the full story at HudsonValley360 [dot] com.