Rosie O'Donnell's New Jersey Mansion to Be Demolished After Being Sold at a Loss

The six-bedroom and nine-bathroom abode of the former 'SMILF' star, which is located in Saddle River, is expected to be knocked down and turned into a series of affordable housing units.

AceShowbiz - Rosie O'Donnell has bid farewell to her Saddle River, New Jersey home. After the former "SMILF" star reportedly sold the mansion at a $1 million loss, the six-bedroom and nine-bathroom abode was unveiled to be demolished for a new project.

After being knocked down, the 59-year-old's home is expected to be converted into a series of affordable housing units per a landmark public court settlement with Fair Share Housing Center. Unfortunately, the New York Post reported that the agreement has angered its high-end residents.

A source who lives in the neighborhood told the outlet that Saddle River officials wanted to adapt the affordable housing requirements in the borough. However, the source claimed that local developers Saddle River Investors intervened and their intervention only "added insult to injury."

According to a fair housing court settlement between the borough of Saddle River and the Fair Share Housing Center of New Jersey, 60 units are said to be built on Rosie's 5-acre lot. Only 20 percent of them will be used for affordable housing.

"The developer plans to segregate the units, instead of integrating them with the high density multi-family housing," the insider further spilled. "Only eight are set for low and moderate income and the developer will stick the eight units in the back corner of the property instead of integrating, so everyone will know these are the homes saved for the poor."

Other residents also condemned the borough's agreement with Fair Share Housing. They argued, "It makes no sense and it's creating a further divide between the wealthiest and the non [wealthiest]... There is not even public transportation here!"

Rosie allegedly bought the property for $6.3 million in 2013. However, she managed to sell it just for $5.3 million on March 17 after five years on the market. She has relocated to a $8 million luxury New York City penthouse in Midtown. Her new place has four bedrooms and three bathrooms.

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