Fairfield Attributes adds 55+ condominium local community to LI portfolio

Fairfield Houses, Lengthy Island’s biggest household
landlord, has acquired an age-restricted luxury apartment setting up in Roslyn,
New York.

Marcus & Millichap announced it brokered the sale of The
Horizon at Roslyn, a 50-unit, 55-moreover developing for $33 million, or $660,000 for every
unit, the greatest rate for every unit for a Long Island multifamily assets over 10

Michael Tuccillo, Anthony Cerrone and Nicholas Tuccillo in
Marcus & Millichap’s Manhattan workplace represented the vendor, Horizon at
Roslyn LLC, and secured the purchaser, Fairfield Knolls LLC.

“The top quality of The Horizon at Roslyn’s luxury apartments
and the breathtaking views ended up the key motorists of the financial commitment,” said Tuccillo.
“The history selling price for every device is a very clear indication that Extensive Island is a primary
marketplace for traders.”

The Horizon at Roslyn is situated at 61 Bryant Ave., minutes
from Downtown Roslyn Village, near golfing classes, parks, and the harbor place.

Owned and led by the Broxmeyer household, Fairfield Attributes
owns much more that 12,000 models, mainly in Nassau and Suffolk with about two
percent in Queens. It acquired about 85 percent and created 15 p.c — or 1,000
units — since its founding in 1974.

In 2019, it paid approximately 50 percent-billion-pounds for a
7-house portfolio of 1,496 units from Lone Star Funds.

The business has a big portfolio of 55 & In excess of qualities
throughout Extended Island supplying “resort style” dwelling for lively older people and facilities
that include things like social corridor and celebration kitchens, health and fitness golf equipment, swimming pool, game
and passion home. Some have tennis and shuffleboard courts, putting greens and
nature trails as perfectly as Grandchild Tot Tons and kiddie pools.

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