Cornerstone at Hauppauge

Our Role

RPL provided acquisition due diligence services on behalf of an institutional equity partner.

Unique Approach

• Helped investigate existing conditions of aging community.
• Developed appropriate improvements plan and capital expenses budgets.

Outcomes

• Property acquired and financed.
• Improvement plan put into action.

Scope of Work

A 55+ age restricted rental townhouses with parking and other related improvements. Features include a clubroom with resident lounge, fireplace, caterer’s kitchen, billiards, fitness center, outdoor kitchen, and nature trails.

Project Summary

• Client: One of the largest institutional private equity investment firms
• Location: Hauppauge, NY
• Size: 98 units, 2 floors, 110,134 SF
• Timeline: 2020 to 2021
• Services: Due Diligence
• Cost $20 Million
• Architect: H2M Architects + Engineers
• Contractor: Bartone and Pellerito Construction Services