Long Island

Suffolk IDA preliminarily approves investment for Citation Healthcare Labels LLC

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has preliminarily approved a transaction to assist Citation Healthcare Labels, LLC expand its manufacturing and labeling operations within the Innovation Park at Hauppauge. With

Commercial and Industrial Brokers Society of Long Island (CIBS) presents “Meet the Candidates” on Sept. 13

Melville, NY On Wednesday, September 13th, the Commercial and Industrial Brokers Society of Long Island (CIBS) will host a “Meet the Candidates” breakfast, featuring candidates for Suffolk County executive Republican Hon. Ed Romaine and Democrat Dave Calone. The

P.W. Grosser promotes Chaudhry, Pecoraro, Cantillo, Chase and Sommer

Bohemia, NY Five P.W. Grosser Consulting, Inc. (PWGC) employees have been promoted.

• Usman Chaudhry: Senior project manager from project manager

Hempstead IDA okays development benefits for housing complex in Island Park that would replace waterfront catering hall

Hempstead, NY Fred Parola, CEO of the Town of Hempstead Industrial Development Agency (IDA) said the agency granted preliminary approval to a package of economic development incentives that will assist John Vitale construct a117-unit waterfront apartment

Hidden cost information will reduce real estate taxes - by Brad and Sean Cronin

With real estate taxes increasing, owners are being barraged with hidden costs that, when properly analyzed, will decrease their real estate tax obligation. Recently, landlords have been forced to handle a variety of factors that diminish their net operating income (“NOI”). Many of

Commercial Classroom: 1031 tax deferred exchanges part 2 - by Edward Smith

The sale of real estate held for more than 12 months triggers Capital Gains taxes on the Net Profits of that sale. These taxes may be deferred by participating in a 1031 Tax Exchange, in essence, by purchasing property(s) to replace the one(s) being sold. However, there are stringent rules and timetables that must be complied with. This applies to the sale of commercial or investment property, but not your personal residence

Colantonio of Schuckman Realty facilitates $4.75 million sale of 11,500 s/f building

Oceanside, NY Schuckman Realty has arranged the sale of a single tenant leased property at 3200 Long Beach Rd. The property features an 11,500 s/f building on a 26,000 s/f lot with dedicated parking, currently tenanted by an operating “The Learning Experience” which recently commenced a new 15-year lease term for the location

Cannabis and lending - by Lindsay Mesh Lotito

Would there be a better business landscape today for the cannabis industry had Thomas Jefferson’s concept for the U.S. banking system prevailed in 1791? At the inception of our country, there was a bitter rivalry between those that favored states’ rights and those that supported a strong central

Colliers secures 5,940 s/f lease for VESPA Italian restaurant at TRITEC’s Station Yards development

Ronkonkoma, NY Colliers, in partnership with TRITEC Real Estate Company, has arranged the second lease at the Station Yards project. A Colliers team led by vice presidents Maria Valanzano and Steven D’Orazio, with the support of Jake Horowitz, associate vice president, represented the landlord and tenant.

Greystone reimagines homestead into assisted living and memory care community with $25.193 million loan

Islip, NY A historic homestead in Long Island’s Bay Shore will be the site of a new assisted living and memory care community, Netherbay, financed by a HUD-insured loan from Greystone. This transaction marks the only healthcare construction loan in the United States approved by HUD in 2022, at $25.193 million