MARKET INSIGHTS · LOCAL TRENDS · FUTURE OPPORTUNITIES
June brought a major healthcare expansion announcement, continued redevelopment activity across Nassau, and policy changes affecting South Shore multifamily owners. From Long Beach to Mineola, the month highlighted the capital, approvals and local knowledge behind commercial property decisions.
$108M Long Beach Condo Proposal Advances
A scaled-down $108 million condominium proposal at the former Hebrew Academy of Long Beach site continued through review. Planned for 530 West Broadway, the project was revised from its original scale in response to municipal and community feedback. The proposal reflects continued developer interest in South Shore waterfront locations, while also showing how zoning, coastal planning and local concerns influence a project’s path to construction. Approvals were still required at the time of this edition.
NYU Langone Plans New Melville Academic Medical Center
NYU Langone Health announced plans for a new academic medical center in Melville, Long Island’s first new hospital since 1980. The health system acquired 45 acres at the Huntington Quadrangle on May 21 for $135.5 million. Plans include more than 500 private inpatient rooms, over 70 emergency department bays, and relocation of the NYU Grossman Long Island School of Medicine from Mineola. Construction is expected to generate up to 8,000 union construction jobs. NYU Langone plans to maintain an expanded specialty and emergency care presence in Mineola, including cancer, cardiology and neurology services.
Amityville Extends Apartment Development Pause
The Village of Amityville extended its apartment building moratorium for another six months, continuing a pause on new multifamily development while the village evaluates housing, infrastructure and service capacity. For owners considering redevelopment, restrictions like these make timing and permitted use central to a sale strategy. Understanding the approval process and the realistic development potential of a property helps owners position it appropriately before approaching buyers.
Historic Mineola Bank Site Planned for Mixed-Use Redevelopment
Adam Mann and Scott Burman, through AJM Real Estate and Burman Real Estate, are planning a $15.44 million mixed-use project at 199 Jericho Turnpike in Mineola. The approximately 42,958 sq. ft. development would replace a former Bank of America property with 28 apartments—11 one-bedroom and 17 two-bedroom units—above roughly 3,000 sq. ft. of retail. Six apartments are designated as affordable. Designed by William Novak of WSN Architect, the plan preserves the 1929 façade and is supported in part by a $1 million contribution from Mineola’s NY Forward grant.
North Village Brokers $3.4M Bay Shore Multifamily Sale
North Village Realty brokered the off-market sale of 50–52 Center Avenue in Bay Shore for $3.4 million, approximately $283,000 per apartment. The 12-unit property includes seven one-bedroom and five two-bedroom apartments, plus a separate detached structure with 12 individual garages—an uncommon amenity for a property of this size. The transaction demonstrates the value of established owner relationships and direct access to qualified buyers when bringing a multifamily investment to market.
Thinking About a Sale?
North Village Realty represents commercial property owners on Long Island’s South Shore and across Nassau and Suffolk. Whether you own an apartment building, retail property, office or industrial asset, start with a clear understanding of its value and your options.
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June 2026 newsletter archive. Development plans and market conditions reflect the information in this edition and may change.