Whitney Capital Company Acquires Long Island Multifamily For $45M With Buyer's Rep Jack Bick - Charatan Realty & Mike Tuccillo & Nick Tuccillo - Marcus & Millichap

The sale of a multifamily property in Long Island has been completed for a total price of $45,000,000. The property is located at 1 Hoppen Dr. & 1400 Aldersgate and consists of 245 units with an average price per unit of $183,673. The total square footage of the property is 272,719, resulting in a price per square foot of $165.

Summary of transaction details

• Property Type: Multifamily (LIHTC)
• Transaction Amount: $45,000,000
• Address: 1 Hoppen Dr. & 1400 Aldersgate
• Market: Long Island
• Units: 245
• Price per Unit: $183,673
• Square Footage: 272,719
• Price per Square Foot: $165

The buyer of the property is Whitney Capital Company, while the seller is The Benjamin Companies. Representing the buyer in the deal are Jack Bick from Charatan Realty, as well as Mike Tuccillo and Nick Tuccillo from Marcus & Millichap.