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FCP Closes on Preferred Equity for Glen Cove Apartment Deal

FCP recently closed on a preferred equity investment to facilitate Fairfield Properties’ acquisition of a 367-unit residential community currently known as Avalon Glen Cove, in the village of Glen Cove, NY. Fairfield Properties, a Melville-based owner and developer, is reportedly the largest multifamily owner and operator on Long Island. 

The luxury mid-rise will be rebranded as Fairfield Metro at Glen Cove. The transit-oriented property is located near the Glen Cove Station on the Long Island Rail Road’s Oyster Bay Branch, while the newly introduced Glen Cove Ferry will provide riders an additional option for their daily commutes to Manhattan.

“We are excited to continue to grow our relationship with Fairfield with our investment in this Class A community in the Glen Cove market, which complements Fairfield’s portfolio and operational experience.” said FCP SVP E.J. Corwin. Fairfield Metro at Glen Cove represents FCP’s fifth transaction with Fairfield Properties.  


Inside The Story

FCP’s Corwin

About Paul Bubny

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 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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