Coventry Gardens

BlueGate Partners has been engaged on an exclusive basis by Ornstein Leyton Company, LLC (the “Sponsor”) to secure joint-venture equity for Coventry Gardens, a to-be-developed, transit-oriented 100 unit multifamily community located at 725 Eastview Drive, Central Islip, NY.

The Site is situated on the South Shore of Suffolk County Long Island, between the Southern State Parkway and the Long Island Expressway, and is approved for 100 multifamily apartments, with no affordable unit requirements. The Sponsor anticipates receiving its site plan and PILOT approvals in Q2 2023 and beginning construction in Q3 2023. The Project will be constructed with 11 two-story garden-style buildings. The Project will offer highly sought after large two-bedroom units with 9-foot ceilings, electric heating/cooling, oversized windows, energy efficient appliances, 50 apartments will have a loft, and 44 apartments will be a ‘corner unit’. Amenities will include a clubhouse, fitness center, outdoor swimming pool, various recreational spaces, and surface parking.

INVESTMENT HIGHLIGHTS

• Compelling Investment Thesis
• Exceptional Returns
• Significant Barriers to Entry
• Strong Long Island Rent Growth
• Strong Sponsorship
• PILOT (Suffolk County IDA)
• Transit Oriented Development
• Excellent Regional Access
• Diverse and Stable Economy: “Eds & Meds”
• Cost Effective Construction
• Ideal Location with Access to Shopping & Dining