Delitsky of HFF secures $85 million for Roosevelt Raceway Center

HFF has secured $85 million in financing for Roosevelt Raceway Center a 428,395 s/f retail power center. 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 Dr. 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 s/f. 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 s/f 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.