Category: New York

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Cushman & Wakefield brokers sale of Farmingdale, N.Y., multifamily asset

Jefferson at Farmingdale
Cushman & Wakefield brokered the trade of Jefferson at Farmingdale Plaza, a newly-constructed, luxury mid-rise apartment community has sold in Nassau County


A newly-constructed, luxury mid-rise apartment community has sold in Nassau County, announced commercial real estate services firm Cushman & Wakefield. A team of capital markets specialists based in New York and New Jersey brokered the trade of The Jefferson at Farmingdale Plaza—representing the seller, a joint venture of H.I.G. Realty Partners and JPI, and procuring the buyer, Fairfield Properties.

Located on 2.5 acres at 148 South Front Street, the 154-unit rental community sits adjacent to the Farmingdale LIRR rail station in downtown Farmingdale. “This transit-oriented development offers superior connectivity, allowing residents to reach New York Penn Station in just 49 minutes,” said Cushman & Wakefield’s Kevin Donner, who co-headed the transaction with Brian Whitmer, working in conjunction with their teams including Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt, Ryan Dowd and Mark Phillips in New Jersey and Adam Spies and Michael Collins in New York. “The Jefferson is also located one block from Farmingdale’s Main Street, well-known for its active nightlife scene, numerous restaurants and shops.”

Built in 2015, The Jefferson at Farmingdale Plaza features two, three-story buildings with open concept floor plans, high-end finishes and a market-leading amenity package. Residents enjoy ample parking; a health club with a yoga studio and aerobics center; fully equipped business lounge; club room with billiards, shuffleboard and gaming consoles; movie theater with a media center and more. The property also features 20,000 square feet of retail leased to a desirable tenant mix, including Starbucks, TAO Asian Bistro and Eastern Breeze spa.

“This community has drawn renters seeking to live within a dynamic, amenity-rich and transit-oriented area,” Whitmer noted. “Farmingdale has experienced sustained growth and development over the past few years with The Jefferson well-positioned to benefit as one of the centerpieces of the town’s renaissance.”

Cushman & Wakefield’s New Jersey capital markets team, based in East Rutherford, specializes exclusively in office, industrial, multifamily, land and retail property trades throughout New Jersey, New York and Fairfield County, Conn. The group has completed $32 billion worth of transactions since 2000, closing over $3.3 billion in sales in 2018.



Cushman & Wakefield brokers sale of Farmingdale, N.Y., multifamily asset

Jefferson at Farmingdale
Cushman & Wakefield brokered the trade of Jefferson at Farmingdale Plaza, a newly-constructed, luxury mid-rise apartment community has sold in Nassau County

A newly-constructed, luxury mid-rise apartment community has sold in Nassau County, announced commercial real estate services firm Cushman & Wakefield. A team of capital markets specialists based in New York and New Jersey brokered the trade of The Jefferson at Farmingdale Plaza—representing the seller, a joint venture of H.I.G. Realty Partners and JPI, and procuring the buyer, Fairfield Properties.

Located on 2.5 acres at 148 South Front Street, the 154-unit rental community sits adjacent to the Farmingdale LIRR rail station in downtown Farmingdale. “This transit-oriented development offers superior connectivity, allowing residents to reach New York Penn Station in just 49 minutes,” said Cushman & Wakefield’s Kevin Donner, who co-headed the transaction with Brian Whitmer, working in conjunction with their teams including Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt, Ryan Dowd and Mark Phillips in New Jersey and Adam Spies and Michael Collins in New York. “The Jefferson is also located one block from Farmingdale’s Main Street, well-known for its active nightlife scene, numerous restaurants and shops.”

Built in 2015, The Jefferson at Farmingdale Plaza features two, three-story buildings with open concept floor plans, high-end finishes and a market-leading amenity package. Residents enjoy ample parking; a health club with a yoga studio and aerobics center; fully equipped business lounge; club room with billiards, shuffleboard and gaming consoles; movie theater with a media center and more. The property also features 20,000 square feet of retail leased to a desirable tenant mix, including Starbucks, TAO Asian Bistro and Eastern Breeze spa.

“This community has drawn renters seeking to live within a dynamic, amenity-rich and transit-oriented area,” Whitmer noted. “Farmingdale has experienced sustained growth and development over the past few years with The Jefferson well-positioned to benefit as one of the centerpieces of the town’s renaissance.”

Cushman & Wakefield’s New Jersey capital markets team, based in East Rutherford, specializes exclusively in office, industrial, multifamily, land and retail property trades throughout New Jersey, New York and Fairfield County, Conn. The group has completed $32 billion worth of transactions since 2000, closing over $3.3 billion in sales in 2018.

JLL closes sale of The Peaks of Nanuet

Peaks of Nanuet
JLL announced that it has closed the sale of The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.


JLL announced that it has closed the sale of The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.

JLL marketed the property exclusively on behalf of the seller, a joint venture between Harbor Group International, LLC and Azure Partners LLC. Mill Creek Residential Trust LLC and a partner purchased the asset free and clear of existing financing.

The Peaks of Nanuet consists of 64 buildings set on 54 acres that comprise a mix of one-, two- and three-bedroom units averaging 1,208 square feet, with approximately 40% of homes also inclusive of lofts. Units feature intrusion alarms, separate dining rooms, spacious closets, full-sized washers and dryers, and patios or balconies. The transit-oriented property is located at 100 Avalon Gardens Drive less than a mile from the intersection of the Garden State Parkway, Interstate 287 and Palisades Interstate Parkway. Due to its central location, The Peaks of Nanuet is convenient to Manhattan, the New Jersey state line and Westchester County via car and a variety of mass transit options. Community amenities include a large renovated clubhouse, fully equipped fitness center, yoga room, indoor basketball courts, racquetball court, business center and a resident lounge with fireplace. The property was 95% occupied at closing.

The JLL Capital Markets team representing the seller included Jose Cruz, Michael Oliver, Kevin O’Hearn, Stephen Simonelli, Andrew Scandalios and Michael Kavanagh.

“The Peaks asset was highly sought after by both institutional and private buyers given the property’s location, surrounding demographics and renovation upside,” Cruz stated. “This sale marks the largest multihousing trade in Rockland County to date.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.



JLL closes sale of The Peaks of Nanuet

Peaks of Nanuet
JLL announced that it has closed the sale of The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.

JLL announced that it has closed the sale of The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.

JLL marketed the property exclusively on behalf of the seller, a joint venture between Harbor Group International, LLC and Azure Partners LLC. Mill Creek Residential Trust LLC and a partner purchased the asset free and clear of existing financing.

The Peaks of Nanuet consists of 64 buildings set on 54 acres that comprise a mix of one-, two- and three-bedroom units averaging 1,208 square feet, with approximately 40% of homes also inclusive of lofts. Units feature intrusion alarms, separate dining rooms, spacious closets, full-sized washers and dryers, and patios or balconies. The transit-oriented property is located at 100 Avalon Gardens Drive less than a mile from the intersection of the Garden State Parkway, Interstate 287 and Palisades Interstate Parkway. Due to its central location, The Peaks of Nanuet is convenient to Manhattan, the New Jersey state line and Westchester County via car and a variety of mass transit options. Community amenities include a large renovated clubhouse, fully equipped fitness center, yoga room, indoor basketball courts, racquetball court, business center and a resident lounge with fireplace. The property was 95% occupied at closing.

The JLL Capital Markets team representing the seller included Jose Cruz, Michael Oliver, Kevin O’Hearn, Stephen Simonelli, Andrew Scandalios and Michael Kavanagh.

“The Peaks asset was highly sought after by both institutional and private buyers given the property’s location, surrounding demographics and renovation upside,” Cruz stated. “This sale marks the largest multihousing trade in Rockland County to date.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.


JLL closes sale of The Peaks of Nanuet

Peaks of Nanuet
JLL announced that it has closed the sale of The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.

JLL announced that it has closed the sale of The Peaks of Nanuet, a 504-unit apartment complex in the suburb of Nanuet, Rockland County, New York.

JLL marketed the property exclusively on behalf of the seller, a joint venture between Harbor Group International, LLC and Azure Partners LLC. Mill Creek Residential Trust LLC and a partner purchased the asset free and clear of existing financing.

The Peaks of Nanuet consists of 64 buildings set on 54 acres that comprise a mix of one-, two- and three-bedroom units averaging 1,208 square feet, with approximately 40% of homes also inclusive of lofts. Units feature intrusion alarms, separate dining rooms, spacious closets, full-sized washers and dryers, and patios or balconies. The transit-oriented property is located at 100 Avalon Gardens Drive less than a mile from the intersection of the Garden State Parkway, Interstate 287 and Palisades Interstate Parkway. Due to its central location, The Peaks of Nanuet is convenient to Manhattan, the New Jersey state line and Westchester County via car and a variety of mass transit options. Community amenities include a large renovated clubhouse, fully equipped fitness center, yoga room, indoor basketball courts, racquetball court, business center and a resident lounge with fireplace. The property was 95% occupied at closing.

The JLL Capital Markets team representing the seller included Jose Cruz, Michael Oliver, Kevin O’Hearn, Stephen Simonelli, Andrew Scandalios and Michael Kavanagh.

“The Peaks asset was highly sought after by both institutional and private buyers given the property’s location, surrounding demographics and renovation upside,” Cruz stated. “This sale marks the largest multihousing trade in Rockland County to date.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.