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Greystar Acquires Age-Restricted Apartment Community on Long Island for $118M

Vistas-of-Port-Jefferson

The Vistas of Port Jefferson on Long Island totals 244 units. The property was built in 2019.

PORT JEFFERSON STATION, N.Y. — South Carolina-based multifamily development and management firm Greystar has acquired The Vistas of Port Jefferson, a 244-unit, 55-plus apartment community on Long Island, for $118 million. Built in 2019, the property’s unit mix comprises 36 one-bedroom units, 144 two-bedroom units, and 64 two-bedroom townhouses. In addition, 15 percent of the residences are reserved for renters earning between 30 and 80 percent of the area median income. Amenities include a pool, clubhouse, fitness center and walking/biking trails. Benjamin Co. sold the property to Greystar for a per-unit price of roughly $483,600. Michael Tuccillo of Marcus & Millichap and Jack Bick of S. Charaton Realty brokered the deal.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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