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Fairfield Properties Acquires Multifamily Property For $146M In Suffolk County, Long Island

75 East Hoffman Avenue
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This MultiFamily property located in NY was sold for $146,000,000 about 2 years ago. The brokers of the deal were Salvatore Buzzerio, Gerard Quinn, Thomas E. Didio, Jr, Jason Lundy, Steve Simonelli, Michael "Mike" Oliver, Jose Cruz, and Andrew Scandalios

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

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.

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Deals
  • Location
    75 East Hoffman Avenue75 East Hoffman Avenue
  • Sale Price
    $146,000,000$146,000,000
    $306 PPSF$306 PPSF
  • Area
    476,074 SF476,074 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    8 Brokers, 1 Agency, 1 Lender8 Brokers, 1 Agency, 1 Lender

Agents

Salvatore Buzzerio

Salvatore Buzzerio

Deals19
Financed$653.1M

Jason Lundy

Jason Lundy

Deals9
Sold$828.2M

Gerard Quinn

Gerard Quinn

Deals19
Financed$870M

Thomas E. Didio, Jr

Thomas E. Didio, Jr

Deals25
Financed$1.3B

Steve Simonelli

Steve Simonelli

Deals29
Financed$2.9B

Andrew Scandalios

Andrew Scandalios

Deals43
Financed$6.8B

Jose Cruz

Jose Cruz

Deals66
Financed$5.6B

Michael "Mike" Oliver

Michael "Mike" Oliver

Deals29
Financed$2.1B

Agency

JLL

JLL

Agency
Deals5591
Volume$332.6B

Freddie Mac

Freddie Mac

Lender
Deals88
Volume$ 468.8B

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Deal Summary

SALE IMAGE: Steve Simonelli, Jose Cruz, Michael Oliver, Andrew Scandalios & Jason Lundy DATE: 03/24/2022 ADDRESS: 75 E Hoffman Ave. MARKET: Suffolk County, Long Island ASSET TYPE: Multifamily 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 (@JLL) SALE PRICE: $146,000,000 UNITS: 260 ~ PPU: $561,538 SF: 238,037 ~ PPSF: $613

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75 East Hoffman Avenue

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