Updated Dec 6, 2024
Fairfield Properties Acquires Multifamily Property For $146M In Suffolk County, Long Island
75 East Hoffman Avenue & 75 East Hoffman Avenue, Lindenhurst, New York 11757, United States
$146,000,000
$306/SF
Building Size
238,037 SF
Asset Type
MultiFamily
Closing
Mar 23, 2022
About this deal
AI
The multifamily property located at 75 E Hoffman Ave. in Suffolk County, Long Island has been sold in a closed transaction. The property consists of 260 units and spans a total square footage of 238,037. The sale price for the property was $146,000,000, resulting in a per-unit price of $561,538 and a price per square foot of $613. The transaction took place on March 24, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $146,000,000
- Buyer: Fairfield Properties
- Seller: JV between Tritec Real Estate Company, Inc. & Rockwood Capital
- Brokers: Jose Cruz, Steve Simonelli, Andrew Scandalios, Mike Oliver, & Jason Lundy - JLL
The buyer of the property is Fairfield Properties, while the seller is a joint venture between Tritec Real Estate Company, Inc. and Rockwood Capital. The deal was facilitated by brokers Jose Cruz, Steve Simonelli, Andrew Scandalios, Mike Oliver, and Jason Lundy from JLL.
On the Map
$146,000,000
$306/SF
MultiFamily
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Players
Lindenhurst MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93