House-constructing developer Toll Brothers has purchased the 33-acre property in North Hills as quickly as home to the St. Ignatius Retreat House for $38.4 million.
The Fort Washington, Pa.-based mostly Toll Brothers purchased The state of affairs at 251 Searingtown Road from Manhasset Bay Group, a Hong Kong-based mostly enchancment agency which had purchased the property for $36.5 million in 2013.
Toll Brothers Shall be In a place To assemble 46 homes On the property, on tons Starting from about .40 acres to .90 acres.
Manhasset Bay had utilized to the Village of North Hills to create a subdivision Which might accommodate 46 single-househprevious homes, However The agency by no means adopted by way of with its enchancment plans, although it did have the 93-yr-previous retreat house demolished in Dec. 2013.
Brokers Jason Friedman and Rudi Friedman of Daniel Gale Sotheby’s Worldwide Realty, which had represented Manhasset Bay in its 2013 acquisition, represented them as quickly as extra And in addition procured The client Inside the property’s latest gross sales transaction.
“That is palms down Definitely one of the biggest residential enchancment alternative in Nassau County that I’ve seen in my complete exact property profession,” Jason Friedman tprevious LIBN. “The property’s proximity to Manhattan and Gprevious Coast amenities makes it exactly one of A type.”
The deliberate enchancment will probably be a profitable one for Toll Brothers, as newly assembleed homes Inside The world have been promoting for upwards of $4 million.