Fairfield grows office portfolio with $16M Melville deal

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Fairfield Properties is growing again. This time, Long Island’s largest residential landlord has expanded its portfolio of office properties. 

Fairfield purchased the 111,067-square-foot office building on 6 acres at 534 Broadhollow Road in Melville for $16 million. The property is located just a stone’s throw from its corporate headquarters at 538 Broadhollow. 

The four-story office building at 534 Broadhollow Road is about 82 percent occupied. Amenities at the property include a conference center, a fitness center and a food-service café on the lower level. 

Fairfield’s latest acquisition brings its office portfolio in Melville to eight buildings totaling more than 1.03 million square feet. The company also owns seven office buildings in Hauppauge, Commack and Farmingdale totaling more than 283,200 square feet, according to its website. 

As Long Island’s largest apartment landlord, Fairfield has a massive multifamily residential portfolio of 225 communities totaling more than 15,000 units.  

Fairfield was self-represented, while Darren Leiderman, Herb Agin, Michael Zawol, Jacklene Chesler, Patrick Norris and Philippe Jomphe of Colliers represented the seller, CLK HP 534 BHR LLC, an affiliate of Woodbury-based CLK Properties, in the Melville sales transaction.