Zere Real Estate Services completes $3.5 million sale of nine-acre $30 million development site

Hauppauge, NY Zere Real Estate Services sold a nine-acre redevelopment site for $3.5 million. The property contains three residential lots that will be redeveloped into a new 55+, 98-unit residential rental apartment complex called “Cornerstone.”  

“The $30 million construction project from Terwilliger & Bartone Properties will be on Joshua’s Path just off Motor Pwy. and the Long Island Expressway,” said David Zere.

The new development will be a combination of one and two-bedroom rental residences. Amenities will include a 3,000 s/f clubhouse with a fitness center, an outdoor recreation area with bocce courts, a putting green, and a nature trail. David Zere, executive VP, and Marie Zere, president & CEO of Zere Real Estate, represented the buyer, Terwilliger & Bartone Properties, and also represented the property seller, Harmel & Associates, P.C. The sale price $3.5 million.