Marcus & Millichap Brokers $118M Sale of Active Adult Community on Long Island

PORT JEFFERSON STATION, N.Y. — Marcus & Millichap has brokered the sale of The Vistas of Port Jefferson, a 244-unit active adult community in Port Jefferson Station.

Built in 2019 on 27 acres, the 30-building property is located on the North Shore of Suffolk County in Long Island. The unit mix is 36 one-bedroom flat units, 144 two-bedroom flat units, and 64 two-bedroom townhouses. The Port Jefferson Long Island Railroad station and Northwell Mather Hospital are both nearby.

The asset sold for $118 million, or $483,607 per unit. Greystar acquired the property from Benjamin Co.

Fifteen percent of the units are affordable housing for area residents making between 30 and 80 percent of the area median income.

Michael Tuccillo of Marcus & Millichap represented the seller.