Long-held Valley Stream Apartment Property Has New Owner
A rare generational multifamily asset in Valley Stream has changed hands for the first time since its construction in 1963. The 19,956-square-foot apartment property, long held by the same family, sold for $5.75 million in a transaction that underscores both the enduring appeal of Long Island multifamily investments and the importance of experienced representation in these complex sales.
North Village Realty was proud to represent both buyer and seller in this deal. After more than six decades of continuous ownership, the seller made the strategic decision to capitalize on market demand, while the buyer acquired the property with a long-term hold strategy — a signal of ongoing confidence in Long Island’s stable rental market.
“Opportunities like this don’t come around often,” said Tom Bigansky, Managing Broker at North Village Realty. “This property had been owned by one family since it was built, and transactions of this nature require both sensitivity and a strong understanding of the local investment landscape. We were able to guide both parties to a successful closing that aligned with their goals.”
The sale highlights not only the continued investor appetite for well-located multifamily assets, but also the resilience of the Valley Stream submarket, where quality rental properties remain in high demand.
Originally published in Long Island Business News – August 25, 2025