Overview
RIPCO Real Estate exclusively offers 2150-2162 Grand Avenue in Baldwin, NY, a shovel-ready, transit-oriented development near Baldwin LIRR station. This 0.73-acre site is approved for a five-story, 58-unit multifamily building totaling 57,000 SF, with ground-floor retail and parking. The property will be delivered vacant.
The Town of Hempstead approved a 20-year PILOT, sales tax exemptions, and mortgage tax relief, with no affordability requirement [all 58 units market-rate]. The units include 49 one-bedroom and 9 two-bedroom apartments, well-suited for Nassau County LIRR commuters.
The Baldwin station offers 40-minute service to Penn Station, Grand Central, and Atlantic Terminal. Securing approvals and incentives is a lengthy, uncertain process—this site is ready to build. Contact the agents for more info.
Investment Highlights
IDA AUTHORIZING RESOLUTION ADOPTED - APRIL 2026
The Town of Hempstead IDA voted unanimously to adopt its Authorizing Resolution on April 21, 2026.
100% MARKET-RATE | NO AFFORDABILITY REQUIREMENT
All 58 units are unrestricted market-rate rentals—no affordability obligation.
20-YEAR PILOT APPROVED |SIGNIFICANT SALES & MORTGAGE RECORDING TAX SAVINGS
The IDA-approved benefits package includes a 20-year PILOT agreement, sales tax exemptions up to $844,804, and mortgage recording tax exemptions on financing up to $14.6M.
BALDWIN LIRR STATION | ~40 MINUTES TO NYC
The site sits directly adjacent to the Baldwin LIRR station with approximately 40-minute service to Penn Station, Grand Central, and Atlantic Terminal.
FULLY-APPROVED DEVELOPMENT PROGRAM
The IDA-approved program consists of 58 market-rate rental units across five stories, approximately 57,000 SF, with 609 SF of ground-floor retail and on-site parking.
HIGH-BARRIER NASSAU COUNTY MARKET
Located in Nassau County, one of the most supply-constrained multifamily markets in the New York metro area, with demand consistently outpacing new supply.
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