Beechwood Homes continues to invest in properties on Merrick Avenue in Westbury.
The developers purchased the 10,064-square-foot former site of a TGI Fridays restaurant on Tuesday, May 13. The location had been vacant since its former occupant filed for bankruptcy last November, for $12.75 million, according to the company’s website.
Beechwood principal Steven Dubb indicated that they would seek out a high-end restaurant tenant for the building.
This purchase continues a trend of ventures in the area for Beechwood. In 2017, the Jericho-based company paid $16 million for a 5.87-acre site at 695 Merrick Avenue. This land was developed into the Selby, a 237-unit luxury apartment complex that opened in 2022.
In 2021, Beechwood paid $10 million for the 12,107-square-foot former Houlihan’s at 725 Merrick Avenue. The second location of John Tunney Restaurants’ The Farm Italy Restaurant & Bar is set to open soon. The Tunney Restaurants group also operates another restaurant, The Shed, within the Selby complex.
The developer also bought a property at 737 Merrick Avenue in 2022, the site of a Buffalo Wild Wings. The 12,107-square-foot building was sold to Beechwood for $11 million, and they plan to open a luxury boutique hotel there.
“We made a big investment on Merrick Avenue with the Selby and the new Farm Italy restaurant,” he said. “We’re going to see if we can release it as a restaurant. It’s a great piece of property.”
In addition to the Merrick Avenue properties, the company owns the Vanderbilt luxury apartment complex at 990 Corporate Drive in Westbury, which opened in 2018. Right next to this is Beechwood’s Meadowbrook Pointe Condos, a 720-home complex built on 51 acres that used to be part of Roosevelt Raceway.
Beechwood, founded in 1985, is primarily involved in housing development. The company has built more than 10,000 homes throughout New York and North Carolina.
