Performance You Can Count On
About Us
Your Trusted Partner in Real Estate Investments
Peconic Equities is a Melville, NY based full service real estate development company focusing on value-add real estate investments on Long Island and throughout the U.S. Our disciplined approach revolves around identifying, acquiring, repositioning, managing and financing value add commercial real estate.
Recent Investments
Elm Street Lofts at 2 Elm Street and 356 New York Avenue, Huntington, NY
356 New York Avenue, Huntington, NY known as Elm Street Lofts at 2 Elm Street was purchased in 2017 and re-developed into a three story, trophy mixed use commercial building in the heart of the village, next to The Paramount. The project was completed in the Spring of 2022 and now is home to Jovia Financial Credit Union, a national credit tenant, and nine luxury apartment units over 3.5 stories. Five apartments have loft and outdoor patio space – the only apartments with private, outdoor patios in Huntington village.
20 Wyoming Avenue,
Long Beach, NY
20 Wyoming Ave, Long Beach, NY known as "West End Flats" was purchased by Peconic Equities in early 2021. Formerly known as the “Admiral Apartments”, the 26-unit apartment complex located on the Atlantic Ocean underwent renovations to both apartments and grounds resulting in 70% rent premiums. The 26 units are comprised of a 20 Unit Apartment Building and 2 detached oceanfront houses with a total of 6 units.
Purchase Price: $4,000,000
Sales Price: $8,300,000
200 West Carver Street,
Huntington, NY
200 West Carver Street, Huntington, NY is a 15,845 SF medical office building on approximately one acre in the Hamlet zoning district in Huntington village. Located on just over 1 acre at the intersection of West Carver Street and Prospect Street, the 15,845 SF Medical Office building benefits from a high-quality medical tenant roster including Pro-Health with General Practice, Oncology and Rectal and Colonoscopy.
Extra Space Storage - 1590 Lakeland Avenue, Bohemia, NY
1590 Lakeland Avenue, located in Bohemia, NY is a 636-unit self-storage facility operated by Extra Space Storage, the nation’s leading storage company. The 75,000 SF building, located on 2.66 acres, is 850 feet south of the Veterans Memorial Highway and Lakeland Avenue intersection. The development is also in the heart of the ISP Airport industrial district with immediate neighbors such as FedEx, Restaurant Depot, Blackman Plumbing and Nature’s Bounty. The facility contains 636 storage units including climate controlled, drive-up units and outdoor storage (52 uncovered parking stalls).
Seven Beach Lane - 7 Beach Lane, Westhampton Beach, NY
(under development)
Seven Beach Lane (formerly The Grassmere Inn) located at 7 Beach Lane, Westhampton Beach, NY is a 16-room luxury hotel under construction located in the village of Westhampton Beach, NY. The property is approximately two miles from Rogers Beach, the primary public beach serving the Westhampton Beach community in Suffolk County, NY and around the corner from the center of Westhampton Beach village – home to Westhampton Beach Performing Arts Center and several other notable destinations popular within the thriving, affluent community.
The Fire Island Beach House -
25 Cayuga Walk,
Ocean Bay Park, NY
The FIBH, Fire Island Beach House, is a 38-room ocean facing hotel property located in Ocean Bay Park, Fire Island, NY. The property is approximately twenty minutes by ferry from Bay Shore, NY located on the South Shore of Suffolk County, Long Island, NY. The Hotel also offers a bar and restaurant called “Canes” which offers pub-style food and drinks to hotel guests.
This old Fire Island Hotel & Resort received over $3,500,000 of renovations in 2020 resulting in an entirely new venue - “The Fire Island Beach House.” The new hotel received a complete face-lift, with luxury rooms and an elevated beachside cuisine featuring fresh, locally sourced ingredients for breakfast, lunch and dinner, thus capturing the high demand for seasonal luxury resorts on Long Island and void in the western Suffolk County marketplace.
Acquisition Criteria
Our acquisition criteria are as follows:
Any value-add investment or development transaction which allows us to increase the asset by a minimum of 30% either by achieving market rental rates, light renovation, or major re-development and repositioning. We will build ground up construction for self-storage and multi-family.
Asset Class:
- Multi Family
- Mixed Use
- Self-Storage
- Medical Office
- Land and Development
Location:
- Long Island, NY, Nassau County
- Long Island, NY, Suffolk County
- Tampa, FL (MSA)
- Sarasota/Bradenton, FL (MSA)
- Tri-State NY
Deal Size:
$5,000,000 to $20,000,000
I. Identify
Our team of experts identifies opportunities.
II. Enhance
Our proven deal structures will maximize your returns.
III. Execute
Our quick fundraise process allows us to beat the market and begin providing you with results.
Our Team
COREY GLUCKSTAL
Managing Partner
Corey is a Commercial Real Estate and Corporate Executive with over 20 Years of Commercial Real Estate and Corporate Finance experience. During the course of his real estate career, he has advised clients on the acquisition and disposition of nearly 200 transactions valued over $1 billion of aggregate real estate since 2012. Corey is responsible for all capital, finance, property management and real estate matters for Peconic Equities and related entities.
In addition to the above, Corey is franchisee and Area Developer for Jersey Mike’s in Queen’s County, NY, a Partner and Owner in several commercial real estate projects in the Long Island market, owner of multi-family properties in the Southeast U.S. and holiday apartments in Barbados, West Indies through his family out of Southwest Florida. He earned is undergraduate degree in American History from Hobart College and is an MBA in Finance from the Frank G. Zarb School of Business at Hofstra University where he focused on Investment Banking and Capital Markets.
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ANDREW ZAMBRATTO
Managing Partner
Andrew Zambratto serves as a Managing Partner at Peconic Equities. Andrew is primarily responsible for the acquisition of all investments having developed relationships with the commercial brokerage industry through the east coast and southeast Florida. In addition, Andrew along with the other Peconic’s other members, manage investor relations, on-site property management, construction, and asset development.
Currently, he is a Partner and Owner in several commercial real estate projects in the Long Island Market. Over the course of his career Andrew has purchased and developed over $75MM in real estate with concentration primarily on single family and multi-family assets. Previous areas of focus were on distressed and value add assets which Andrew continues to focus on in his role at Peconic Equities. Andrew graduated from George Washington University with a Bachelor of Finance and Marketing.
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35 Pinelawn Rd, Melville, NY, United States
Peconic Equities is a Melville, NY based full service real estate development company focusing on value-add real estate investments on Long Island and throughout the U.S. Our disciplined approach revolves around identifying, acquiring, repositioning, managing and financing value add commercial real estate.
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