October 20, 2020
Inland Real Estate Acquisitions (IREA) closed on the purchase of 10 West Apartments, an 11-story, 109-unit multifamily property in Long Beach, NY, on Long Island’s South Shore. Joe Cosenza, president of IREA, completed the deal, with assistance from Equis Law Group’s Michael A. Wilson and Gina R. LaMantia, on behalf of an Inland affiliate. Terms weren’t disclosed.
10 West is one of the only oceanfront rental buildings in New York State. The building was renovated between 2013 and 2018 following Hurricane Sandy and benefits from a $44-million coastal restoration completed by the U.S. Army Corps of Engineers.
Cosenza said, “10 West Apartments’ highly desirable position in Long Beach, combined with its recently upgraded amenities, make this the type of multifamily property we continue to seek for acquisition.” The property was 99% occupied at closing.
For comments, questions or concerns, please contact Paul Bubny