08.08.2014 NYREJ | The Albanese Organization selects Sabre Real Estate Group as leasing agent for retail portio
GARDEN CITY, NY The Albanese Organization, the master developer of Wyandanch Village, a 40-acre, $500 million sustainable, mixed income, transit-oriented community in Suffolk County, has selected Garden City-based Sabre Real Estate Group LLC as exclusive leasing agent for the retail portion of the project.
Sabre, the leading independent retail brokerage in the New York metropolitan area, is marketing Phase 1 retail space totaling 35,000 s/f in Wyandanch Village, one of just a few transit-oriented communities under development on Long Island. Sabre already is negotiating several leases and reports strong interest from potential tenants.
Groundbreaking on the public-private project, located in the heart of the hamlet of Wyandanch at Straight Path near the Long Island Railroad’s main line, occurred in July 2013 after years of planning.
The first phase of the walkable community will consist of three buildings. The first two will be mixed-use buildings totaling about 222,000 s/f, including 177 residential units and 35,000 s/f of retail, restaurant and gallery space. The third will be a commercial building of about 91,500 s/f.
Apartments in Wyandanch Village, easily accessible from both the Long Island Expressway and Southern State Parkway, will be priced to provide living opportunities for a range of household incomes and sizes, ensuring their affordability.
“We’re excited to be working with the Albanese Organization and involved in this significant new mixed use development,” said Jayson Siano, managing principal of Sabre. “The proximity to residences and a new commuter rail station used by 2,000 people daily just steps away will make the retail portion of this new community extremely appealing to retailers. Moreover, reduced real estate taxes and a 15-year abatement of those taxes and utility rate reductions make the notion of leasing at Wyandach Village even sweeter.”
“Many retailers already know about the benefits of transit-oriented developments like Wyandanch Village. They like that this neighborhood brings out the best of Long Island living, from its dynamic downtown to its sense of community, with a mix of shops, restaurants, cafes, park space and cultural offerings taking place both on weekends and weekdays,” said Stuart Fagan, managing director of Sabre.