Beechwood Organization Buys Melville Development Site Ten Point Three Acres For Twenty One Million

125 Spagnoli Road in Melville is a 10.3-acre Development Site that sold for $21,000,000. The Ferncliff, a 299-room extended-stay hotel planned for the site, is scheduled to open in June 2028.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $21,000,000
• Address: 125 Spagnoli Road
• Market: Melville
• Acreage: 10.3
• Buyer: Beechwood Organization
• Sale Date: 08/07/2025
• Note: Beechwood Organization closed on a $21M purchase of a 10.3-acre Melville site to develop The Ferncliff, a 299-room extended-stay hotel set to open in June 2028.

The buyer is Beechwood Organization, a developer focused on hospitality projects. This deal highlights Beechwood's active engagement in hotel development within the Melville market and underscores its role in advancing the Spagnoli Road site's redevelopment plan.