LI firm buys development site for new mixed-use project

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A Westbury-based developer and construction firm has closed on its acquisition of a Huntington property where a new mixed-use project is planned. 

Triple S Group LLC, an affiliate of Stasi Brothers, purchased the long-vacant 4,817-square-foot office building on .62 acres at 30 Prospect St. for $2.05 million. The property was originally developed as a bank branch. 

The site was sold with all approvals in place to build a three-story, 14,896-square-foot mixed-use development. The project will bring 11 luxury apartments–nine one-bedroom units and two two-bedroom units—above 5,000 square feet of commercial space to be leased for professional offices, according to the broker on the deal. 

Developer Sam Stasi said Huntington Village is renowned for its blend of historic charm and modern amenities and provides an exceptional backdrop for the project.  

“Residents and visitors will appreciate the convenience of having local favorites such as Stop & Shop, Wild By Nature and ShopRite within walking distance. Additionally, the proximity to landmark attractions like the world-renowned Paramount Theatre, as well as essential services including Huntington Hospital, Two Hall and the YMCA, further enhances the appeal of this development,” Stasi told LIBN. “This project represents one of the last opportunities for a combined residential and retail venture in Huntington Village. With everything already approved, we are excited to move forward without the usual delays and uncertainties, confidently investing in the future of this exceptional community.” 

Christian Standerwick of Berkshire Hathaway Commercial Services represented the buyer, as well as the seller, Waldorf Investments LP, in the Huntington sales transaction. 

“There was a lot of developer interest in this project given its shovel-ready status coupled with the anti-development cloud hovering over Huntington Village,” Standerwick told LIBN. “We were happy to be able to negotiate the right deal for both parties and continue to facilitate deals like this that provide much needed housing across Long Island.” 

Construction on the new mixed-use development is expected to begin in three to five months.