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Brokerage
Posted: April 16, 2019
Friedkin Realty Group acquires two Long Island multifamily complexes for $150.5 million
Mineola, NY Friedkin Realty Group has closed on the $150.5 million purchase of two residential complexes.
Friedkin Realty Group bought the five-story, 275-unit apartment complex formerly called Modera Mineola and now known as The Allure at 140 Old Country Rd. and the 36-unit Hudson House affordable rental building at 104 Front St. from J.P. Morgan Asset Management.
Thomas Walsh, Joseph Garibaldi, Kelly Gaines, Ray Ruiz, Katelyn Borovsky and Heather Lombardi of JLL represented both buyer and seller.
The Allure, located at 140 Old Country Rd., was completed in 2015 and offers 275 class A residential rental units. The five-story property has LEED Gold Certification and offers residents at least nine-foot high ceilings, hardwood floors, quartz countertops, and chic urban finishes, combined with a best-in-class amenity package with hotel-inspired pool, 24-hour fitness studio with Pilates and yoga, golf simulator, package concierge, structured direct-access garage and two distinct courtyards for entertainment and community activities.
According to JLL, The Allure deal represents one of the highest prices per unit ever in Nassau County and the second highest price paid for a single multifamily asset in Long Island over the past five years.
Hudson House, located at 104 Front St., and close to The Allure, was also completed in 2015 and offers 36 units of age- and income-restricted affordable housing. The property is widely considered one of Nassau County’s highest-quality, age-restricted affordable housing developments. It offers spacious open floor plans, walk-in closets, covered parking and a community room for residents to play games, read and congregate.
The properties were developed by Mill Creek Residential.
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