Greystar Acquires Port Jefferson Multifamily Property For $118M

The multifamily property located at 588 N. Bicycle Path in Port Jefferson has been sold for a total price of $118,000,000. The property consists of 244 units with an average price per unit of $483,606. It spans across 245,000 square feet, resulting in a price per square foot of $481.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $118,000,000
• Units: 244
• Price per Unit: $483,606
• Total Square Feet: 245,000
• Price per Square Foot: $481
• Address: 588 N. Bicycle Path, Port Jefferson
• Market: Port Jefferson

The buyer of the property is Greystar, represented by Mike Tuccillo from Marcus & Millichap. The seller, on the other hand, is The Benjamin Companies, with Jack Bick from Charatan Realty acting as their representative in the deal.