NEW YORK—HFF has arranged financing and joint venture equity for the development of New Village, a mixed-use, transit-oriented development in downtown Patchogue on Long Island.
HFF worked on behalf of the owner, TRITEC Real Estate Company, to secure the debt and joint venture equity financing with an account advised by UBS Global Asset Management. The HFF team representing TRITEC Real Estate Company was led by senior managing directors Andrew Scandalios and Jose Cruz, and managing directors Jeffrey Julien and Kevin O’Hearn.
Plans for New Village include 291 multihousing rental units, 36,149 sq. ft. of ground-level retail space and 511 parking spaces. The property is situated on a 4.87-acre site in downtown Patchogue close to the Patchogue Long Island Railroad (LIRR) train station providing access to Manhattan. It is also within walking distance to the Fire Island and Watch Hill ferry stations.
