54 Railroad Avenue, Copiague, NY
- Purchased site with functionally obsolete 60,000+SF industrial building on a 2-acre site for $30 PSF
- Asset ideally located across from Long Island Rail Road Station in Copiague
- Worked with Town of Babylon to secure a rezoning that allowed for the development of 90 units per acre
- Property generated positive cash flow during rezoning process
- Conifer Management LLC acquired the property and constructed the multi-family transit oriented development
- Sold for 3x the purchase price within 4 years of acquisition
