LI developer launches $15M reboot of long-held Plainview property

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Work has begun on a major renovation project of a long-held industrial/flex property in Plainview. 

Melville-based Peconic Equities is giving a significant facelift to the 76,488-square-foot building on 5 acres at 303 Sunnyside Blvd. The developer purchased the property for $12.05 million last month, the first time it has changed hands since it was first constructed in the 1970s. 

The project, for which Peconic Equities is investing nearly $3 million, is aimed at transforming the more-than-half vacant property into a first-class technology business and research center. 

“We’re modernizing the building with new monument signs and wayfinding throughout the property,” Peconic Equities principal Corey Gluckstal told LIBN. “We’re improving the landscaping, and we’re modernizing all of the elevations, facade, exterior of the building, including suite entrances, lighting, and amenities throughout the grounds, making it a real good tech showroom-type of campus for tenants and their customers who visit them.” 

Designed by Greenvale-based architecture firm Mojo Stumer Associates, the project will feature a large entry plaza with lighting and benches, accented by planting beds of native grasses and specimen trees. The Plainview renovation is the third project that Peconic Equities has worked on with Mojo Stumer. 

“We’re thrilled to collaborate once again with Peconic Equities on another exciting project,” said Joe Yacobellis, director of design at Mojo Stumer. “Partners like Peconic, who truly value exceptional design and understand how outstanding architecture enhances marketability, inspire our best work. Together, we’re reimagining this building and the overall site, transforming them into a vibrant, modern workspace that will elevate the experience for Long Island businesses.” 

Peconic Equities, headed by Gluckstal and business partner Andrew Zambratto, has been active with Long Island development projects in the last couple of years. The company transformed the former Grassmere Inn into a 16-key luxury hotel called Seven Beach Lane in Westhampton Beach, which opened in August 2024. The $11.5 million project was honored by the Suffolk County Industrial Development Agency as a Project of the Year. In 2023, Peconic Equities earned the Top Mixed-Use Renovation honors at LIBN’s Real Estate, Architecture and Engineering Awards for its Elm Street Lofts project in downtown Huntington. 

Gluckstal said his firm’s latest project is in an enviable location. 

“We’re capitalizing on its proximity to and visibility from the Long Island Expressway and proximity to all points east and west on Long Island,” he said. “An hour east is Riverhead, and an hour west is Manhattan, and you can’t beat that.” 

The CBRE team of Paul Leone, Marko Glavadanovic and Dan Wiener has the exclusive leasing assignment for the Plainview property. 

“We look forward to new ownership, bringing a fresh vision to this incredible location,” Leone said. “303 Sunnyside is poised to become a premier destination for forward-thinking businesses. We’re excited to connect tenants with a space that inspires growth and success.”