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PATCHOGUE, N.Y., August 21, 2009 – Patchogue, a waterfront village in Suffolk County, is in the midst of a major transformation, and the 24,000-square-foot downtown retail property that runs from 35 to 71 South Ocean Avenue is set to become part of that renaissance. The property will get a major façade upgrade, announced Levin Management Corporation, the property’s exclusive managing and leasing agent.
 
The upgrade, slated for completion by the end of 2009, will also be the basis of a repositioning of the property’s tenant roster. Family Dollar, We The People, a national system of legal document preparation stores, and a popular bagel store already do business there.
 
“Our 11,700-square-foot availability, right in the Patchogue Theatre District, calls for Main Street uses. Retailers, professional services or a restaurant all make sense here,” said Jason Frantzman, Levin leasing representative. “The buildings back up to a municipal parking lot, so parking for this group of stores is excellent.”
 
Downtown Patchogue serves three distinct market groups: local residents, visitors drawn to the Patchogue Theatre District, and visitors who come for the ferry connection to Fire Island.
 
The property is less than one block from the busy Four Corners intersection of Main Street and South Ocean Avenue, the focus of a $134 million redevelopment of the former Sweezy’s department store site. Called New Village, the mixed-use project will bring 240 new market rate and affordable residential units, a hotel and additional retail to the downtown area. Also nearby will be Art Space, a new live/work complex for local artists.
 
“With this housing, we will be able to attract younger people and couples,” said Dennis Smith, Executive Director of the Patchogue Business Improvement District Management Association, Inc. “We also are looking to make the community even more walkable than it is today. If you have enough housing and amenities for people to stay here, that’s the perfect picture.”
The façade improvements at 35-71 South Ocean Avenue will in part be completed with the help of two grants from the New York State Main Street Grant Fund and the approval of the Patchogue Business Improvement District. “The two buildings represent 140 linear feet on South Ocean Avenue, so the improvements will have a major impact,” Smith said. “This project is very timely, and we are very excited about it.”
Located on a major thoroughfare connecting the Long Island Expressway with Suffolk County’s South Shore, the Levin-managed retail sites have a population within a five-mile radius of 155,920, projected to grow by 4% by 2011. Median household income, currently $75,093, is projected to grow by 9% by 2011, and average household income is projected to reach $92,634 in that year.
 
On Long Island, Levin also manages the Mayfair Shopping Center in Commack and Riverhead Centre in Riverhead. The firm’s complete portfolio currently encompasses more than 80 retail properties totaling 12.5 million square feet.