Largest Land Sale on Long Island in 2013 Completed by Lee Rosner of Coldwell Banker Commercial Rosner & Associates
The land had recently been rezoned from Light Industrial to Multi-Family. A 148 unit 55 and over age restricted townhouse development named Bayport Meadow Estates has been approved for development by the Town of Islip. The process of rezoning the property and obtaining all necessary approvals to develop the site was undertaken by Jim Tsunis of the Northwind Group and took over three years to accomplish.
According to Rosner, "the site is well suited for multi-family residential housing. A retail shopping center development is planned for the Wenner Bread property, which is immediately to the east of the site. There is a single family subdivison immediately to the west of the site and the 316 acre San Soucie Nature Preserve is just beyond the single family homes. Multi-family is the ideal transistional use for the site and the Town recognized this. Industrial uses south of Sunrise Highway are challenged due to less than idea truck access and a restrictively low FAR compared to industrial properties north of Sunrise".
Lowes Corporation was represented by the Dartmouth Company, a boston based real estate brokerage firm. Rosner represented the Northwind Group. Rosner's business relationship with Jim Tsunis and the Northwind goes back over many years.