Fairfield Properties Acquires Long Island Multifamily For $108M

The Multifamily property located at 25 Weaver Dr. in Long Island has been sold in a transaction. The buyer, Fairfield Properties, acquired the property from the seller, JRK Property Holdings, for a sale price of $108,000,000. The property comprises a total of 214 units, with an average price per unit (PPU) of $504,672. The total square footage of the property is 211,694, with a price per square foot (PPSF) of $510.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $108,000,000
• Units: 214
• Price Per Unit (PPU): $504,672
• Square Footage (SF): 211,694
• Price Per Square Foot (PPSF): $510
• Market: Long Island

The deal was facilitated by brokers Steve Simonelli, Jose Cruz, Michael Oliver, Kevin O'Hearn, Andrew Scandalios, and Josh Stein from JLL, who represented both the buyer, Fairfield Properties, and the seller, JRK Property Holdings. Their expertise and assistance helped finalize the transaction.