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Cosentino Companies Acquires 100% Ownership Of Crooked Hill Commons With $36M Recapitalization Loan

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FINANCED
$36,000,000

New York

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Retail360,275 SF
Financed
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Property Image
FINANCED

Cosentino Companies Acquires 100% Ownership Of Crooked Hill Commons With $36M Recapitalization Loan

Crooked Hill Commons

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Retail360,275 SF
Financed
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$99
Total Square Footage:360,275 SF
Transaction Type:Loan

The asset involved in this transaction is Crooked Hill Commons, located at 45, 65, and 85 Crooked Hill Road, with a total square footage of 360,275. The property operates within the Suffolk County & Long Island market and has recently been recapitalized through a loan amounting to $36,000,000 for the acquisition of the remaining 50% ownership interest, leading to full ownership of the property.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $36,000,000
  • Loan Amount: $36,000,000
  • Loan Type: Recapitalization
  • Loan Terms: 3-year, interest-only loan
  • Lender: Provident Bank
  • Landlord: Christine Cosentino, Michael Cosentino, Peter Cosentino & Peter Cosentino Jr - Cosentino Companies & PJ Venture II
  • Tenants: Walmart, Kohl’s, Home Depot
  • Ownership Interest: 100%
  • Market: Suffolk County & Long Island

The key individuals behind the transaction include Christine Cosentino, Michael Cosentino, Peter Cosentino, and Peter Cosentino Jr, who collectively represent Cosentino Companies. This strategic acquisition enhances their standing as one of the largest commercial retail owners in Smithtown, allowing them to fully operate Crooked Hill Commons, which is significant for the local retail landscape.

Players

Provident Bank
Provident Bank
LENDER

Details

FINANCED
IMAGE: Christine Cosentino, Michael Cosentino, Peter Cosentino & Peter Cosentino Jr DATE: 7/31/2025 ADDRESS: Crooked Hill Commons - 45, 65, 85 Crooked Hill Road MARKET: Suffolk County & Long Island ASSET TYPE: Retail ~ SF: 360,275 LENDER: Provident Bank LANDLORD: Christine Cosentino, Michael Cosentino, Peter Cosentino & Peter Cosentino Jr - Cosentino Companies (@CosentinoCompanies) & PJ Venture II LOAN AMOUNT: $36,000,000 LOAN TYPE: Recapitalization LOAN TERMS: Acquisition of the remaining 50% Ownership Interest of Crooked Hill Commons, bringing total ownership to 100%. The acquisition was structured with a 3-year, interest-only loan NOTE: Cosentino Companies, led by Peter and Michael Cosentino, has acquired the remaining 50% ownership interest in Crooked Hill Commons, and now fully owns and operates 100% of the property. This strategic acquisition strengthens Cosentino Companies’ position as one of the largest commercial retail owners in the Town of Smithtown. Tenants at Crooked Hill Commons include Walmart, Kohl’s, and Home Depot, underscoring the center’s significance in the regional retail landscape. The transaction was structured with a 3-year, interest-only loan, allowing for enhanced financial flexibility and continued investment in long-term value creation.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$36,000,000.00

Monthly NOI$240,000.00
Monthly Debt Service$227,544.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00