search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loanParkmerced's $1.8B debt heads to special servicingParkmerced's $1.8B debt heads to special servicingOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothOffice upgrades, concessions to lure tenants add “killer” cost: Steven Roth
Tri-State

Renaissance Management buys East Patchogue apartment complex in 9-figure deal

<em>(Credit: CBRE)</em>
(Credit: CBRE)

Sign Up for the undefined Newsletter

Investor Joseph Kazarnovsky’s Renaissance Management shelled out $232.5 million for an apartment complex on Long Island, Real Estate Weekly reported. Kazarnovsky bought the 915-unit development from “an undisclosed consortium of partnerships,” according to the outlet. The development in East Patchogue, known as La Bonne Vie, includes 626 market-rate apartments and 289 “age-restricted” apartments for people 55-years-old and up. A CBRE team brokered the sale, and a Midtown Manhattan Debt & Structure Finance group team secured a $200.728 million senior loan from TPG Real Estate Finance for the purchase and planned renovations. [REW-Online]

Tags
Long Island