We all know the Farrell Building Company for their luxurious Hamptons homes — from the house Beyoncé and Jay-Z rented for $400,000 a month, to the Water Mill mansion that Anthony Scaramucci can’t make up his mind about. But after a $65 million loan was granted to the company, the builders will also be known for luxury apartments up the island in Central Islip.
According to the original report by the Real Deal, Farrell Communities received the financing from Webster Bank and RXR Realty, a New York City-based real estate developer.
Sited on 30 acres at 300 Carleton Avenue, the building will have 268 units and is set to be open by 2021 if everything goes to plan. Residents will get to enjoy a fitness center and co-working space, among other amenities.
Farrell also has ongoing rental projects in Newburgh, Fishkill, and Smithtown.
Source: The
Real Deal
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