Jericho-based Beechwood Organization will build 76 condominiums in Huntington Station after closing a deal for the project with AvalonBay Communities in December.
Terms were not disclosed.
The new housing, a mix of two-story townhouses and single-level homes, will be constructed on about six acres on the east side of AvalonBay’s 26-acre, 303-residence rental development on East 5th Street, which opened last year.
Beechwood plans to break ground in April or May, according to company principal Michael Dubb, and pre-sales of the condos — priced from $425,000 to $550,000 – will begin around the same time.
“It’s at a price point that should attract some young people,” Dubb told LIBN.
Beechwood has explored other opportunities with Avalon, Dubb said, and he decided this was a good one.
“I think they’re a first-class operation and a leader in quality rental housing on Long Island,” he said.
Matthew Whalen, senior vice president for AvalonBay, said Beechwood is also known as a quality homebuilder and he’s pleased to have Beechwood onboard in Huntington Station. Whalen said, “AvalonBay is focused on producing luxury rental communities across the country and our business plan does not call for a focus on for-sale housing.”
Dubb said the condos will range in size from 1,200 to 2,200 square feet and owners will have use of the AvalonBay clubhouse and other amenities at the complex. The architecture of the condos will be similar to the buildings on the rental side as well.
