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$146m sale of Long Island multi-housing community
Transactions - APRIL 8, 2022

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$146m sale of Long Island multi-housing community

by Released

A joint venture between Tritec Real Estate Co. and an affiliate of Rockwood Capital has sold The Wel, a 260-unit, newly constructed, mid-rise, luxury multi-housing community located in Lindenhurst, N.Y., along the South Shore of Long Island.

Fairfield Properties acquired the asset for $146 million.

Built in 2021, The Wel features studio, one-, two- and three-bedroom units with wood cabinets, stone countertops, spacious closets, designer bathrooms, vinyl wood flooring, open floorplans, in-unit washers and dryers, stainless steel appliances, tiled showers and an average unit size 916 square feet. Community amenities include a pool and patio deck, state-of-the-art fitness center, pool table, game room, open kitchen, rooftop lounge deck, firepits, barbecue stations, dog wash station, bike storage, landscaped courtyard, open-air and garage parking and co-working space.

Residents benefit from the property’s proximity to iconic coastal locations, such as Jones Beach

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