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3489-3501 Hempstead Turnpike
FINANCED

TD Bank Provides $9.27M Refinance Loan For Retail Property In Levittown

3489-3501 Hempstead Turnpike

Retail
62,988 SF
clock iconFinanced 360 days ago
Steven Sperandio
Jake Weiss
Michael Fasano
+ 2
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Summary

Loan
NEW YORK
Retail
62,988 sqft

The retail property located at 3489-3501 Hempstead Turnpike in Levittown, Nassau County, has been successfully refinanced. The property spans an area of 62,988 square feet and is owned by Miller Realty Associates. The prime location of this retail center in a wealthy NYC suburban submarket makes it an attractive investment opportunity. The property currently houses reputable tenants such as AutoZone, DSW, T-Mobile, and Dunkin Donuts, who collectively occupy 82.3% of the leasable area.

Summary of Transaction Details

RIPCO's Head of Debt & Structured Finance, Steven Sperandio, and his team played a pivotal role in securing the $9,270,000 loan for Miller Realty Associates. This successful refinancing deal allows the property owner to take advantage of the stable and prosperous retail market in Levittown. With a strategic location and a tenant roster that includes well-known brands, the property is positioned for continued success in the future.

Players

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    6

  • Agents

    4

  • Agencies

    1

  • Lenders

    1

Steven Sperandio's profile picture
Steven Sperandio
Ripco-image
Executive Managing Director, Debt & Structured Finance
$1.3M Sold
Michael Fasano's profile picture

Details

Deal Summary
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FINANCED
IMAGE: Steven Sperandio, Michael Fasano, Jake Weiss, Brice Shafer DATE: 06/28/2023 ADDRESS: 3489-3501 Hempstead Turnpike MARKET: Levittown ASSET TYPE: Retail ~ SF: 62,988 LENDER: TD Bank LANDLORD: Miller Realty Associates BROKERS: Steven Sperandio (@StevenSperandio), Michael Fasano (@MFasano87), Jake Weiss (@JakeWeiss6) & Brice Shafer - Ripco (@RipcoRealEstate) LOAN AMOUNT: $9,270,000 LOAN TYPE: Refinance LOAN TERMS: 5 Years @ 5.90%, 2-Years I/O followed by 28-Year Am NOTE FROM BROKER: RIPCO’s Head of Debt & Structured Finance Steven Sperandio and his team, secured a $9,270,000 loan for Miller Realty Associates to refinance 3489-3501 Hempstead Turnpike. The stabilized retail center has a prime location in a wealthy NYC suburban submarket of Nassau County. The Property’s current tenant roster includes credit tenants AutoZone, DSW, T-Mobile, and Dunkin Donuts, who collectively sum to 82.3% of the Property’s total leasable area.

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Address3489-3501 Hempstead Turnpike

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