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Mineola Apartment Sale Sets Record for Per-Unit Pricing
JLL has completed the sale of the Allure and Hudson House, a residential complex in downtown Mineola, NY for institutional investors advised by J.P. Morgan Asset Management. Friedkin Realty Group acquired the properties for $150.5 million.
The sale reportedly represents the highest per-unit price ever achieved in Nassau County, and the second highest price on a single multifamily asset on Long Island during the past five years.
Seller and buyer were represented by JLL managing directors Thomas Walsh, Joseph Garibaldi, Kelly Gaines and Ray Ruiz, and VPs Katelyn Borovksy and Heather Lombardi.
“The Allure and Hudson House represent an extremely rare opportunity to acquire a large-scale institutional-caliber investment in Nassau County, which is arguably one of the highest barriers-to-entry submarkets in the country,” said Walsh. “Over the past decade, the village of Mineola has leveraged its location, infrastructure and unique assets to become the poster child for suburban/urban downtown redesign.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
