Tuesday, November 12, 2013

$85 million financing secured by HFF for Long Island, NY power center


Roosevelt Raceway Center, Corporate Drive, Westbury, NY
 
NEW YORK, NY – HFF announced today that it has secured an $85 million financing for Roosevelt Raceway Center a 428,395-square-foot retail power center in Westbury, New York.

Robert Delitsky
                Working on behalf of the borrower, a joint venture of Mattone Group LLC and Gartenstein Properties, HFF placed the fixed-rate loan with New York Community Bank. 

Roosevelt Raceway Center is located along Corporate Drive in the Long Island suburb of Westbury.  Completed in 1995, the property is leased to tenants including Fairway Market, Home Depot, Michael’s, Babies “R” Us, Sprint, AMC Theatres, Applebee’s and Chili’s.

 Ownership recently oversaw the opening of Joe’s Crab Shack at the Center, its third restaurant location on Long Island.  In addition, PGA Tour Superstore will be opening its first store on Long Island this winter.  PGA Tour Superstore will occupy 44,000 square feet.

                The HFF team representing the borrower was led by managing director Robert Delitsky.


The Mattone Group is a Queens-based development company that currently owns and manages more than 2 million square feet of commercial property in the New York Metro area, Georgia and Florida.

Gartenstein Properties is a Brooklyn-based development and management  company with over 70 years of real estate experience.

                For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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