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

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.