JPI SALE OF JEFFERSON AT FARMINGDALE PLAZA
Located next to the Long Island Rail Road, this transit-oriented, 154-unit development offers superior connectivity to New York City and beyond
IRVING, Texas (Nov. 27, 2019) – JPI and its partners, H.I.G. Realty Partners and Bartone Properties, announced the sale of its Long Island property, Jefferson at Farmingdale Plaza, a 154-home, luxury mid-rise apartment community with 19,950 SF of retail space located in Nassau County to Fairfield Properties, a Melville-based owner and developer of commercial real estate. Situated across the street from the Farmingdale station stop on the Long Island Rail Road, this transit-oriented property offers residents convenient access to New York City’s Pennsylvania Station in just 49 minutes.
As Manhattan’s residential rents continue to skyrocket, nearby Long Island provides value-focused rents, along with premier transportation infrastructure, excellent public school systems and an overall improved quality of life, creating one of the Northeast’s most desirable areas in which to live, work and play.
Jefferson at Farmingdale Plaza, developed and built by JPI in 2015, sits on 2.54 acres and is conveniently located one block from Farmingdale’s Main Street, voted the “Best Downtown on Long Island” for three years running and offering residents an abundance of retail, dining and nightlife options. In addition, the retail space is currently leased to a diverse roster of businesses that include Starbucks, Taste of Asia, Farmingdale Dry Cleaners, Eastern Breeze spa and a dentist office.
The community boasts an extensive amenity package unique to the area, including a luxurious health club with a yoga studio and aerobics center, a fully equipped business lounge, covered parking with controlled-access gates, a furnished outdoor courtyard area, a 24-hour club room with billiards, shuffleboard and game consoles, a movie theater with a state-of-the-art media center, elevator access, valet trash pick-up, package concierge service and a dog park.
The apartment homes feature best-in-class finishes and amenities, including nine-foot ceilings, stainless steel appliances, granite countertops, designer lighting complemented by two-toned paint, electronic key entry, in-home washer and dryer units, programmable thermostats and pre-wired flat screen TV mounts.
From its unbeatable location to its market-leading amenity package and luxury finishes, Jefferson at Farmingdale is ideal for residents seeking to live within a dynamic, amenity-rich and transit-oriented community.
JPI is a national developer, builder and investment manager of Class A multifamily assets across the U.S. and is the most active multifamily developer in Dallas-Fort Worth, with over 5,000 apartment homes under construction. Headquartered in Irving, Texas, JPI also has an office in California. With a 30-year history of successful developments throughout major U.S. markets and an unparalleled depth of industry-specific experience, JPI stands among the most active privately held real estate companies in the country. JPI’s executive leadership team has an average of 25 years of comprehensive experience in multifamily developments – ranging from low-density garden apartments and mid- to high-density wrap and podium projects to student-living housing projects and mixed-use high-rise developments. The firm offers investment management, predevelopment, underwriting, marketing and asset management services as well as construction, financial and administrative services. To learn more about JPI, please visit JPI.com.
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