The Hazel Hicksville

BlueGate Partners has been engaged on an exclusive basis by Alpine Residential (a JV between Alpine Real Estate Group and Beachwold Residential) (the “Sponsor”) to secure a joint-venture equity partner (preferred equity may also be considered) for The Hazel Hicksville, a to-be-developed, transit-oriented 189-unit multifamily community located at 99 Newbridge Road, across the street from the LIRR train station in Hicksville, NY. The Site is situated on the North Shore of Nassau County, Long Island, in the prestigious Town of Oyster Bay; one of the most affluent and highly educated markets in the United States. The Development will benefit from the Hicksville Downtown Revitalization Initiative (“DRI”), which includes New York State funding for projects that aim to modernize Downtown Hicksville.

The Site is approved for 189 multifamily apartments, with 170 market-rate units and 19 affordable units. The Sponsor received its site plan approvals in March 2023, and anticipates receiving its PILOT approvals in June 2023, then closing on the land and beginning construction in August 2023. The Project will be constructed as a four-story building featuring a mix of studio, 1-bedroom, 2-bedroom, and 3-bedroom units, with two levels of below-grade parking for 338 cars (283 residential & 55 retail parking spaces), 7,260 SF of ground floor retail space, and 7,021 SF of amenity space that will feature a fitness center, heated pool, resident lounge, co-working space, roof-deck, outdoor kitchens/grills, kids’ playroom, and three large courtyards with diverse landscaping.

INVESTMENT HIGHLIGHTS

• Significant Barriers to Entry
• Excellent Demographics
• Strong Long Island Rent Growth
• PILOT (Nassau County IDA) & DRI/EDC Grant
• Excellent Access to Transportation
• Strong Sponsorship & Significant Co-Investment
• Diverse and Stable Economy: “Eds & Meds”
• Walk Score of 86
• Built with an Emphasis on Sustainability
• Ideal Suburban Location with Access to Shopping & Dining