Fairfield Properties Acquires MultiFamily Property In Mount Sinai For $118M

Fairfield Properties has acquired Sutton Landing At Mount Sinai, a 225-unit age-restricted apartment property in Deer Park, Long Island. The property is located at 300 Sutton Court in Mount Sinai. The sale took place on December 6, 2023, for a total price of $118,000,000. The per-unit cost of the property is $524,444.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $118,000,000
• Units: 225
• Price Per Unit (PPU): $524,444
• Buyer: Michael Broxmeyer - Fairfield Properties
• Seller: Steven Krieger - B2K Development

Michael Broxmeyer, representing Fairfield Properties, purchased Sutton Landing At Mount Sinai from Steven Krieger, who represents B2K Development, in this closed transaction. The property is an age-restricted apartment complex consisting of 225 units. The acquisition was made for a total price of $118 million, with each unit costing approximately $524,444. Both parties finalized the deal on December 6, 2023.