A Lengthy Island actual property agency has closed on its buy of a growth website in Hempstead the place it plans to construct a brand new house complicated.
Lawrence-based BOSFA Properties bought two buildings on a mixed .85 acres at 584 Entrance St. and 600 Entrance St. for $1.9 million. The properties had been used as workplaces for a regulation agency.
BOSFA, which stands for Buildings Of Sustainable Household Flats, is planning to redevelop the location right into a rental complicated with 30 market-rate residences. The 40,686-square-foot constructing can have parking for 82 autos on the bottom stage with two flooring of residences above.
The brand new undertaking will include six studios, 18 one-bedroom and 6 two-bedroom items. BOSFA obtained approvals for the plan from the Village of Hempstead within the spring of final yr.
Building on the brand new Hempstead house constructing is predicted to start out in early 2024 and can take about 18 months to finish.
BOSFA was based by the father-and-son staff of Daniel Goldstein and Aron Goldstein and has acquired greater than 50 properties because the agency started. The corporate’s present actual property property embody the 124-unit Rivoli Home and 60-unit Hilton Gardens in Hempstead, the 36-unit Pearsall Gardens in Freeport, the 176-unit Bayview Estates in Inwood, and several other different mixed-use and multifamily properties.
BOSFA can be planning to construct extra Hempstead initiatives, together with a 244-unit senior rental complicated in Hempstead known as Franklin Senior Gardens and a 120-unit house constructing known as Clinton Manor.
Daniel Goldstein began his profession as an electrician in Israel and later managed his household’s actual property portfolio there earlier than shifting to the U.S. in 1999. He based {an electrical} contracting agency right here earlier than turning his consideration again to actual property, engaged on rehabbing and repositioning a portfolio of a number of thousand residences.
As a youngster, Aron Goldstein labored together with his dad within the electrical contracting agency, later becoming a member of an actual property firm that owned greater than 3,000 residences earlier than founding BOSFA Properties together with his father. He says their newest undertaking on Entrance Avenue represents additional enchancment for the village.
“We’re enthusiastic about this growth, which can add desperately wanted house items to the Hempstead space,” Aron Goldstein stated.
BOSFA was self-represented, whereas Christopher Pesce of Douglas Elliman Industrial represented the vendor, James Furey Jr., within the Entrance Avenue gross sales transaction.