Cornerstone at Hauppauge
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Hauppauge, NY

Residential - Senior Housing

Due Diligence

    Our Role

    RPL provided acquisition due diligence services on behalf of an institutional equity partner.

    Unique Approach

    • Helped investigate existing conditions of aging community.
    • Developed appropriate improvements plan and capital expenses budgets.

    Outcomes

    • Property acquired and financed.
    • Improvement plan put into action.

    Scope of Work

    A 55+ age restricted rental townhouses with parking and other related improvements. Features include a clubroom with resident lounge, fireplace, caterer’s kitchen, billiards, fitness center, outdoor kitchen, and nature trails.

    Project Summary

    • Client: One of the largest institutional private equity investment firms
    • Location: Hauppauge, NY
    • Size: 98 units, 2 floors, 110,134 SF
    • Timeline: 2020 to 2021
    • Services: Due Diligence
    • Cost $20 Million
    • Architect: H2M Architects + Engineers
    • Contractor: Bartone and Pellerito Construction Services
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