Fieldstone at Commack

Commack, NY

Multifamily - Construction

Fieldstone at Commack

MULTIFAMILY - CONSTRUCTION

ACRES Capital Corp. has funded a $29.75 million loan to fund the construction of Fieldstone at Commack II, a 3-story 55+/active adult multifamily building, consisting of 98 residential units and on-site surface parking for 148 vehicles, located in Commack, NY.

This Property consists of:

• 49 one bedroom/one bathroom and 49 – two bedroom/2 bathroom units
• Steel appliances, quartz countertops and designer cabinetry, air conditioning (PTAC units), vinyl plank flooring in living areas and tiles bathrooms
• on-site leasing and management office, separate community space
• A fitness center shared with adjacent property
• Indoor and outdoor lounge areas
• Outdoor swimming pool shared with adjacent property
• Café and private dining room
• Electric car charging station
• Clubhouse • Onsite parking
• Mail room
• Patio with BBQ area
• Dog park.

$30 Million

Loan Amount

Construction Loan

Loan Product

“We are delighted to support P7 Development’s vision for Fieldstone at Commack II and to reinforce our commitment to providing tailored financing for quality multifamily projects. This transaction reflects our confidence in the continued strength of the Commack market, and we look forward to seeing how this new 55+/active adult residential community will enhance the area’s housing options.”

- Mark Fogel

ACRES Chief Executive Officer and President

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.