New York & Tri-State + Long Island + Apartments | November 13, 2020

CBRE Team Closes Hauppauge Sale

The CBRE team of Jeffrey Dunne, Jeremy Neuer, Gene Pride, Steven Bardsley, David Gavin and Eric Apfel closed the sale of Devonshire Hills, a 656-unit multifamily community in Hauppauge, NY, for an undisclosed sum.

CBRE represented the owner, The Bainbridge Companies. The buyer, Renaissance Management, is a family office based in the New York metro area and plans substantial new investment in the complex.

“As one of the newest owners on Long Island, Renaissance has already demonstrated that they have the capability and skill to exceed expectations and deliver value to their stakeholders,” said Dunne. “We believe they will continue to thrive here with the planned renovation program.”

Built in two phases from 1966 to 1969, Devonshire Hills features a fitness center, two swimming pools, tennis court and two playgrounds. The property was originally developed as two separate properties that were combined in 2001.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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