CBRE Brokers Sale of Cornerstone Hauppage Active Adult Community on Long Island

HAUPPAUGE, N.Y. — CBRE has arranged the sale of of The Cornerstone Hauppauge, a 98-unit active adult community in the Long Island hamlet of Hauppauge. The property opened in 2019.

Terwilliger & Bartone Properties sold the asset to a joint venture between two institutional partners with experience in the active adult sector. The price was not disclosed.

The CBRE team of Jeffrey Dunne, Gene Pride, Travis Langer and Zach McHale, along with Aron Will and Austin Sacco of CBRE’s Senior Housing Group, represented the seller.

“The sale of The Cornerstone Hauppauge illustrates the ongoing demand by investors for high-quality suburban assets that are performing well during the pandemic,” says Dunne.