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March 28, 2018  

Long Island Apartments Listed Again

A Long Island apartment complex is on the market for the second time in two years.The 154-unit Jefferson at Farmingdale Plaza, in Farmingdale, N.Y., is worth about $80 million, or $520,000/unit. At that price, the buyer’s initial annual yield would be 5%. Cushman & Wakefield is representing the owner, a joint venture between Irving, Texas, developer JPI and New York fund operator HIG Realty.The partnership previously listed the property...

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