Fairfield Properties has added a mixed-use property in Huntington to its growing portfolio.
The Melville-based landlord purchased a mixed-use building that has 20 apartments and 9,100 square feet of retail on .85 acres at 2 Union Place and 269 New York Ave. for $15.875 million.
The fully occupied, three-story residential building at 2 Union Place has 18 two-bedroom and 2 one-bedroom apartments with average monthly rents of around $4,000. The 5,000-square-foot restaurant space on New York Avenue is leased to long-time tenant Albert’s Mandarin Gourmet. An F-45 Training studio and a medical equipment business occupy the other two retail spaces located on the ground floor of the apartments.
Mark Walsh of Select Real Equity Advisors represented the buyer, while his Select Real Equity Advisors partner John Thomas represented the seller, 255 Hookshank LLC, in the sales transaction.
“This was a very unique opportunity for the buyer to acquire a new luxury rental building in the heart of Huntington Village,” Walsh said.
Image and article originally from libn.com. Read the original article here.