November 13, 2020
The CBRE team of Jeffrey Dunne, Jeremy Neuer, Gene Pride, Steven Bardsley, David Gavin and Eric Apfel closed the sale of Devonshire Hills, a 656-unit multifamily community in Hauppauge, NY, for an undisclosed sum.
CBRE represented the owner, The Bainbridge Companies. The buyer, Renaissance Management, is a family office based in the New York metro area and plans substantial new investment in the complex.
“As one of the newest owners on Long Island, Renaissance has already demonstrated that they have the capability and skill to exceed expectations and deliver value to their stakeholders,” said Dunne. “We believe they will continue to thrive here with the planned renovation program.”
Built in two phases from 1966 to 1969, Devonshire Hills features a fitness center, two swimming pools, tennis court and two playgrounds. The property was originally developed as two separate properties that were combined in 2001.
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