Fairfield Properties Driving the Majority of Long Island Apartment Sales Volume in 2018

Fairfield Properties has positioned itself as a major player in the Long Island multifamily investment scene this year. The Melville, New York-based developer was the buyer on four of the six priciest transactions so far in 2018.

The company kicked off its spending spree with the January purchase of the Fairfield Townhouses at Coram, acquiring the complex from Ohio-based Brookwood Management Co. The property traded for $111.75 million, or $259…

Locally Based Spencer Equity Buys 20-Story Section 8 Housing Complex in Coney Island

Locally based investor Spencer Equity purchased the 20-story Friendset Apartments, a Section 8 Housing complex in Brooklyn’s Coney Island for $50 million, or about $193,000 per unit.

Spencer Equity acquired the 259-unit multifamily building from Englewood Cliffs, New Jersey-based The Orbach Group, which originally acquired the complex in 2014 for $34 million.

Located at 2911 W. 36th St., the 229,865-square-foot apartment building was constructed…