Hometown America Pays $17M for Long Island Manufactured Homes
- Jan 05, 2021
Hometown America has acquired Foxwood Village in Calverton, N.Y., for $16.8 million, Riverhead Local reported. Local investor Foxwood Corp. sold the 244-site community after more almost two decades of ownership, county records show.
Located at 1407 Middle Road, the property is some 2 miles from big-box stores such as Walmart and Costco, as well as other retail and dining options. Additionally, the asset is less than 4 miles from the Long Island Expressway, roughly 5 miles of several golf courses, and almost 10 miles from Francis S. Gabreski Airport. Completed in 1985, the over 55 manufactured housing community includes common-area amenities such as two bocceball courts, a ballroom, a library, a pool, a craft room, a lounge and a bingo room.
At the beginning of December, Hometown America received an $18 million Fannie Mae loan for Eden Roc in Hayward, Calif. A JLL team originated the 10-year debt for the 200-site manufactured housing community.