Nursing home developer acquiring 49 acres in Suffolk County

A developer is shelling out top dollar on Long Island, likely to build a nursing home. Jericho-based B2K Development agreed to buy 49 acres of the Flowerfield Fairgrounds in the hamlet of St. James for $28.7 million, Newsday reported. The seller is a subsidiary of Gyrodyne, which owns the entire 63-acre site. B2K declined comment on the agreement and its land use plan. Gyrodyne, however, released a statement on the pending sale, where its chief executive officer referenced “a meaningful need for assisted living facilities in the region.” That aligns with one of B2K’s core business lines, as the developer […]This article originally appeared on The Real Deal. Click here to read the full story.