Harrison Street sells active adult community to Fairfield Properties
Harrison Street has sold Sutton Landing at Deer Park, an active adult community, to Fairfield Properties.
The development consists of a 200-unit age-restricted multifamily project in Deer Park, N.Y., that offers a luxury lifestyle rental community with class A finishes and amenities such as a pool, fitness center and clubhouse. Harrison Street developed the property in a joint venture with Engel Burman, now known as B2K Development. The community delivered in 2020 and achieved stabilized occupancy exceeding 98 percent, benefiting from strong demographics and limited supply within the Long Island market.
Ben Mohns, head of asset management-North America at Harrison Street, said, “In the face of muted market conditions, we are proud to announce the successful sale of Sutton Landing at Deer Park to Fairfield Properties. This transaction is a testament to our team's unwavering dedication and strategic vision to meet the needs of the growing senior population and reaffir