Dorman of CBC Rosner & Assoc. brokers TD Bank

According to Andy Dorman, senior vice president of Coldwell Banker Commercial Rosner & Associates, a long term ground lease with TD Bank for a bank branch has been completed. TD Bank signed a 20-year ground lease for a new branch at the corner of Route 25A and Mt. Sinai-Coram Rd. The banking company built the branch itself. The land belongs to Island Estates, a residential builder active in the area for many years. Dorman represented Island Estates in the transaction. "TD Bank was anxious to put a branch in Mount Sinai, mainly because the large contingent of Grumman retirees in the area is an attractive market segment, along with other residents, whom the bank felt were under served," said Dorman. The bank branch was the third and final building structure in a commercial subdivision called "The Commons at Mount Sinai." The compound also contains a large day-care center and a new office building. "Thanks to a mild winter," said Len Axinn, president of Island Estates, "TD Bank was able to put up the building quickly and smoothly." Because of Axinn's track record in the community as a residential developer, he received critical support for the proposed bank branch early in the approval process from town officials and civic groups. "I think the town was pleased with the design and location of the new bank branch," observed Allen Smith, a former board member of the Mount Sinai Civic Association. "The developer did everything right during the approval process." Founded in 1852, TD (Toronto-Dominion) Bank is Canadian in origin. It has total deposits of approximately $155 Billion, making it the ninth largest bank in the world. The newest branch in Mount Sinai is the company's 52nd branch on Long Island.