2 Locations

BWE Investment Sales is pleased to present a premier seniors housing development opportunity on 5.65 acres in the hamlet of Hauppauge, Town of Islip, Suffolk County, New York. Entitled seniors housing sites on Long Island are exceptionally rare. This offering represents one of the few shovel-ready AL/MC development opportunities in a market where new supply is nearly impossible to create.

PRIME INFILL LOCATION WITH HIGH BARRIERS TO ENTRY

The site fronts Wheeler Road just north of the Long Island Expressway (I-495), offering strong visibility and convenient access. Surrounding uses include residential neighborhoods, government and professional offices, and personal service businesses.

As of 2023, Long Island's population was estimated at 8.063 million — more than one-third of New York State's total. With the region largely built out, developable land is scarce. New supply is further constrained by restrictive zoning, lengthy approval timelines, and strong community opposition to higher-density projects.

SHORT PATH TO ENTITLEMENTS ACCELERATING PROJECT DELIVERY

The sellers acquired the property in 2017 with plans to develop seniors housing on 4.9 acres and a single-story retail building on the 0.75-acre parcel. A zoning change was approved in early 2018, along with a site plan for 136 assisted living units on the 4.9-acre portion. The approved building area of 97,202 square feet required a FAR variance to 45.58% (versus the 40% maximum for this use).

The sellers are now willing to sell both parcels as a combined 5.65-acre site. Town approval will be required to merge the parcels and approve development of the full site; however, prior engineering and use approvals should support an accelerated entitlement process. If the 45.58% FAR is extended to the combined parcel, the resulting building area would be 112,178 square feet.

In addition to zoning approvals, the sellers have submitted materials for a sewage treatment plant, as municipal sewer service is not available at the site. All engineering and supporting documents will be provided to the buyer. The Town of Islip Industrial Development Agency has also approved the creation of a PILOT agreement.

STRONG UNMET DEMAND FOR SENIOR HOUSING

Senior housing demand is being fueled by the aging baby boomer generation. Within a 7-mile radius, there are more than 38,000 residents age 75+ (growing at 2.8% annually) and more than 23,000 residents age 85+ (growing at 3.1% annually). Household incomes are strong, with a median of $134,308 — 33% above the MSA average and 65% above the U.S. average. The median home value is $615,655, and 79.4% of homes are owner-occupied, reflecting substantial home-equity liquidity to support senior housing costs.

As of Q4 2025, seniors housing occupancy within a 7-mile radius stood at 92.5% (assisted living: 92.0%; memory care: 94.7%), exceeding both the New York MSA and U.S. Primary Market averages, according to NIC MAP. With robust demographic growth and high barriers to entry limiting new supply, demand for additional seniors housing in this market is expected to remain strong.