Fairfield Properties Pays $33M for Long Island Senior Asset

The 50-unit luxury property catering to seniors 55 and over traded for a record price.
The Horizon at Roslyn. Image courtesy of Marcus & Millichap

Fairfield Properties has finalized the purchase of The Horizon at Roslyn, a 50-unit high-end senior community in Roslyn, N.Y. The Horizon Group sold the property for $33 million or $660,000 per unit, in a record deal brokered by Marcus & Millichap, achieving the highest price for a Long Island multifamily asset with more than 10 units.

The Horizon at Roslyn caters to seniors 55 and over. On-site amenities include a community room, fitness center, heated swimming pool, screening room, as well as indoor parking. Situated at 61 Bryant Ave. at Hempstead Harbor, just off Route 25A and near the Long Island Expressway, the location offers access to a varied collection of golf and country clubs.

Marcus & Millichap’s Manhattan office team representing the seller and securing the buyer included Michael Tuccillo, Anthony Cerrone and Nicholas Tuccillo.

Roughly a year ago, Fairfield, one of the biggest residential landlords in Long Island, expanded its footprint with the acquisition of a 271-unit community in North Babylon, N.Y., for more than $83 million. Completed in the 1970s, the 17-acre property comprises 18 two-story buildings.