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

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

• Property Type: Retail
• Transaction Amount: $9,270,000
• Lender: TD Bank
• Landlord: Miller Realty Associates
• Brokers: Steven Sperandio, Michael Fasano, Jake Weiss, and Brice Shafer from Ripco
• Loan Type: Refinance
• Loan Terms: 5 Years @ 5.90%, 2-Years I/O followed by 28-Year Am

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.