Ferrandino and Son - Supplemental Public Hearing Notice

07/02/25

Application
CBA
Additional Documents

NOTICE IS HEREBY GIVEN that a supplemental public hearing pursuant to Title 1 of Article 18-A of the New York State General Municipal Law will be held by the Town of Brookhaven Industrial Development Agency (the “Agency”) on the 15th day of July, 2025, at 11:30 a.m., local time, at the Patchogue Village Hall, located at 14 Baker Street, Village of Patchogue, Town of Brookhaven, New York, in connection with the following matter:

Ferrandino and Son Development Group, LLC, a limited liability company organized and existing under the laws of the State of New York, on behalf of itself and/or the principals of Ferrandino and Son Development Group, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (the “Ferrandino”), submitted its application (the “Application”) to the Agency for assistance in connection with:
(A) the acquisition of approximately 4.08 acres of land located at 214, 210, 200, 192-198, 188 West Main Street, 25, 21, 14 Hammond Street, 26 West Avenue, Village of Patchogue, Town of Brookhaven, New York (Section: 9; Block: 6; Lots: 1.6, 1.9, 3, 4, 5, 13, 14, 18 & 24) (the “Land”),
(B) the demolition of certain existing structures thereon, and the construction, renovation, equipping and furnishing of two four-story mixed-use buildings with a total of 262 residential units, of which 49 are studios, 141 are one-bedroom units and 72 are two-bedroom units, with retail, office space, two parking garages and outdoor parking totaling approximately 444,458 square feet, with

(i) 27 of such units to be reserved as affordable housing for residents whose incomes are at or below 80% of the median income according to household size for the Nassau-Suffolk primary metropolitan statistical area as defined by the Federal Department of Housing and Urban Development (“AMI”) and

(ii) 26 of such units to be reserved as workforce housing for residents whose incomes are at or below 120% of AMI,

together with the acquisition, installation and equipping of improvements, structures and other related facilities attached to the Land (the “Improvements”), and
(C) the acquisition and installation therein of certain equipment and personal property including, but not limited to, shared common areas, a public riverwalk, two swimming pools, two gyms, lobby space, a pet spa, lounge bar, golf simulator and other amenities and the furnishing of furniture, appliances, structures, equipment and personal property in the units (the “Equipment”; and, together with the Land and the Improvements, the “Facility”), which Facility is to be subleased by the Agency to Ferrandino and used by Ferrandino to provide housing and lifestyle activities for the residents of Patchogue and Long Island to be known as 214 W Main Street (the “Project”).

The Agency previously held a public hearing on March 27, 2025.

Subsequent to the submission of the Application by Ferrandino, the Agency was notified of a proposed change to the proposed ownership and control of the Project to reflect that 214 W. Main Owner, LLC, a Delaware limited liability company authorized or to become authorized to conduct business in the State of New York (the “Company”), will now be the fee owner of the Project. The Facility will now be initially owned, operated and/or managed by the Company; and the Company advised that it may obtain additional financing for the Facility which may be secured by a mortgage or mortgages on the Facility to which the Agency may be a party (the “Mezzanine Financing”), however, the Company is not requesting that the Agency grant mortgage recording tax exemptions with respect to such additional financing mortgages.

The Agency contemplates that it will provide financial assistance to the Company in the form of:

exemptions from mortgage recording taxes in connection with the financing or any subsequent refinancing of the Facility (other than the Mezzanine Financing),

exemptions from sales and use taxes in connection with the construction and equipping of the Facility, and

an exemption or abatement from real property taxes.

A representative of the Agency will, at the above-stated time and place, hear and accept written comments from all persons with views in favor of or opposed to either the proposed financial assistance to the Company or the location or nature of the Facility. Prior to the hearing, all persons will have the opportunity to review on the Agency’s website (https://brookhavenida.org/) the application for financial assistance filed by the Company with the Agency and an analysis of the costs and benefits of the proposed Facility.

Dated: July 3, 2025
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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