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Long Island
Posted: May 3, 2016
Handelsman and Shoshana of Eastern Union arrange $8 million loan
Jake Handelsman, Eastern Union Funding
Uri Shoshana, EasternUnion
Farmingville, NY Jake Handelsman and Uri Shoshana with Eastern Union Funding arranged an $8 million loan on behalf of Brooklyn, N.Y.-based Allied Properties to refinance Tiffany Plaza, its three-building, seven-acre, 59,800 s/f retail center. The 10-year loan with Bethpage Federal Credit Union has a fixed-rate of 4.5% for five years.
Built in 1989, Tiffany Plaza benefited from a recent three-year renovation, which included a façade restoration, new septic system and signage enhancements. The multi-tenanted center was 40% occupied at the time, with an additional 36% in executed leases with newcomers Lala’s Land Flea Market and an urgent care facility, as well as expansion space for existing tenant Kidtastic Kids.
Tiffany Plaza - Farmingville, NY
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Long Island
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