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Chris Neighbor Of SummerHill Homes Purchases Development Site In Los Gatos For $78.4M

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SOLD
$78,400,000

California

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Development Site46,000 SF
Sold 10/18/2025
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SOLD

Chris Neighbor Of SummerHill Homes Purchases Development Site In Los Gatos For $78.4M

50 Los Gatos Saratoga Road

See Similar Deals
Development Site46,000 SF
Sold 10/18/2025
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$1,704
Total Square Footage:46,000 SF
Transaction Type:Sale

A development site located at 50 Los Gatos-Saratoga Road in the Los Gatos market was sold for $78.4 million. The property spans 8.8 acres and comprises a total square footage of 46,000. The sale amounts to a price per square foot of $1,704.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $78,400,000
  • Address: 50 Los Gatos-Saratoga Road
  • Market: Los Gatos
  • Asset Size: 8.8 Acres
  • Square Footage: 46,000
  • Price Per Square Foot: $1,704
  • Buyer: Chris Neighbor - SummerHill Homes
  • Seller: Los Gatos Lodge LLC

The transaction involved Chris Neighbor representing SummerHill Homes, who has plans to redevelop the acquired property into a 155-unit residential community. The project aims to replace the existing 128-room motel, originally built in the 1930s, with 28 three-story buildings featuring 26 below-market-rate townhome-style condos.

Players

Chris Neighbor
SummerHill Homes
Chris Neighbor
2 deals$96.4M volume
BUYER
SummerHill Homes
SummerHill Homes
BUYER

Details

SOLD
IMAGE: Chris Neighbor DATE: 10/18/2025 ADDRESS: 50 Los Gatos-Saratoga Road MARKET: Los Gatos ASSET TYPE: Development Site ~ ACRES: 8.8 BUYER: Chris Neighbor - SummerHill Homes SELLER: Los Gatos Lodge LLC SALE PRICE: $78,400,000 SF: 46,000 ~ PPSF: $1,704 NOTE: SummerHill Homes bought the 8.8-acre Los Gatos Lodge property at 50 Saratoga-Los Gatos Road for $78.4 million to redevelop it into a 155-unit residential community. The approved project will replace the 128-room 1930s motel with 28 three-story buildings, including 26 below-market-rate townhome-style condos.

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