WESTPORT–The Glendinning Place Corporate Campus in Westport, where a residential development has been in planning for years, has been sold for $20.4 million to the family office of Ray and Barbara Dalio.
The Dec. 23, 2025 sale was filed with the town Jan. 2 and reported in the weekly property transfer report from the Westport Town Clerk’s office.
The purchaser is 1 GD Holdings LLC c/o Marino Management LLC, located at 1 Glendinning Place. According to the recruiting site Jobright, Marino Management LLC is the Dalio Family Office.
Future plans for the property from the new owner could not be confirmed immediately. A message sent late Friday afternoon to Dalio Philanthropies, established by Ray and Barbara Dalio of the Dalio Family Office, has not been returned.
The property, the former campus of Bridgewater Associates, founded by Dalio, was sold for $10.6 million in September 2023.
The 2023 buyer was downtown Westport developer David Waldman. His most recent proposal for the property included 15 housing units in 10 buildings.
The Glendinning project was working its way through Westport’s municipal approval process and was, in fact, on the Conservation Commission’s agenda for their Dec. 17, 2025 meeting.
According to Waldman, the new owner “will not be pursuing the previously approved development plans.”
Wow.
Although the intention of the new owner is not clear, their desire to acquire this parcel at $20M is quite clear.
Here’s to keeping that land open and free of unnecessary development. Sometimes there are angels lurking in the wings. Let’s hope that is the case here.
Current P&Z members and elected officials should work to ensure that this land is permanently protected as open space, consistent with the intent of the previously elected officials when the Bridgewater complex was approved. One practical step would be to place a Conservation Easement on the property, such as through the Aspetuck Land Trust, to ensure it remains forever protected from future development.
How did the deed restriction to keep part of that property as open space previously get overturned? I thought that was the point of a restriction. Explain it to me, like I am 5 years old.