JLL Capital Markets brokers sale of 214-unit Southpoint at Massapequa

Massapequa, NY JLL Capital Markets closed the sale of Southpoint at Massapequa, a 214-unit, multi-housing community. The sale price was not disclosed.

JLL represented the seller, JRK Property Holdings. The JLL Capital Markets Sales and Advisory team representing the seller was led by managing director Steve Simonelli, senior managing director Jose Cruz, managing director Michael Oliver, senior managing directors Kevin O’Hearn and Andrew Scandalios and analyst Josh Stein. Fairfield Properties acquired the asset.

The property possesses an unit mix that consists of large one-, two- and three-bedroom units some of which are townhouse style. These units average 987 s/f. Select units feature stainless steel appliances, newly renovated kitchen and baths, granite countertops, private entry, oversized closets, bay windows, patios, and balconies. Community amenities include a resort-style pool, sundeck, fitness center, “bark park,” outdoor BBQ area and valet trash collection.

“Interest in Long Island multi-housing communities continues to be at an all-time high. The quality of the property and location, along with the upside in rents at Southpoint drew interest from national institutional investors as well as the local and regional private investors,” stated Simonelli.

Situated in Nassau County, the community benefits residents with its proximity to coastal locations such as Jones Beach and Fire Island as well as various restaurants, parks, schools, grocery stores and shopping. The property is also located off of NY-27 providing connectivity to all major Long Island highways and offering unmatched accessibility to Suffolk County and the greater Tri-State area. In addition, Southpoint is less than two miles from the Amityville and Massapequa Park train stations, allowing convenient transportation to New York City by public transit or car.