New York & Tri-State + Long Island + Apartments | March 22, 2021

Long Island Multifamily Sale Sets Price-Per-Unit Record

Marcus & Millichap closed the sale of The Horizon at Roslyn, a 50-unit, 55-plus age-restricted luxury apartment building in Roslyn, NY. The asset sold for $33 million, or $660,000 per unit, reportedly the highest price per unit for a Long Island multifamily property over 10 units.

Michael Tuccillo, Anthony Cerrone and Nicholas Tuccillo in Marcus & Millichap’s Manhattan office marketed the property on behalf of the seller, Horizon at Roslyn LLC, and secured the buyer, Fairfield Knolls LLC.

“The quality of The Horizon at Roslyn’s luxury apartments and the breathtaking views were the main drivers of the investment,” said Michael Tuccillo. “The record price per unit is a clear indication that Long Island is a prime market for investors.”

The Horizon at Roslyn is located at 61 Bryant Ave., minutes from Downtown Roslyn Village, near golf courses, parks, and the harbor area.

Connect

Inside The Story

Connect With Marcus & Millichap’s Michael Tuccillo

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 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).