STATEN ISLAND, NY-Taking advantage of low interest rates, Empire Realty Associates, LLC has refinanced the Expressway Plaza Shopping Center for $16.2 million. Holiday Fenoglio Fowler, LP arranged the funding transaction.Anchored by a 60,413-sf Waldbaum's Supermarket, the 94,026-sf retail center is located on Richmond Avenue. Thirteen tenants occupy the four-building site, including Hollywood Video, Applebee's Neighborhood Grill and Bar, Richmond County Savings Bank and Sleepy's. The development was completed in 1998.HFF managing director Robert Delitsky secured the 10-year, fixed-rate leasehold mortgage loan through the Bank of New York for Empire Realty Associates, which is comprised of the Kalikow Group of Westbury and Feldco Development Corp. of New Canaan, CT. HFF also arranged the construction loan with the Bank of New York on 1997, which was subsequently converted to a permanent loan also through the Bank of New York.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
