SR Aviation Infrastructure (SRAI) has acquired Stratosphere Development and Republic Jet Center at Farmingdale Republic Airport (FRG) in Farmingdale, New York. The acquisition covers more than 50 acres of developable land.

SRAI plans to complete already approved development plans to deliver additional hangar space in what it describes as one of the most supply-constrained aviation markets in the United States.

“This project reflects our commitment to acquiring and developing best-in-class hangar facilities at strategically located airports nationwide. Farmingdale is one of the most important private aviation airports in the New York metro area and represents a pivotal step in SRAI's continued growth and leadership in the general aviation infrastructure sector,” says Jonathon Reeser, president of SRAI.

Republic Airport serves business aviation traffic in the New York City metropolitan area and provides additional capacity alongside Teterboro Airport and Westchester County Airport.

“Farmingdale represents a rare and strategic opportunity for SRAI, positioning the platform in one of the strongest private aviation markets in the country with a unique opportunity for new construction,” says Monte Koch, senior advisor of SRAI. “As demand for private and business aviation continues to surge, accessible hangar space in the New York region has become extraordinarily scarce. By delivering purpose-built, modern hangars at Farmingdale, SRAI is not only addressing a critical infrastructure gap but will also set a new benchmark for quality and operational sophistication in one of the nation's busiest aviation corridors.”

SRAI focuses on acquiring, developing and leasing aviation-related real estate across the United States. Its current holdings include SRAI Las Vegas, SRAI San Antonio and SRAI Bozeman.