Long Island

Batista named associate board member of CIBS Long Island

Syosset, NY Greg Batista has been appointed an associate board member of the Commercial Industrial Brokers Society of Long Island (CIBS).  

Boyiakis to serve as insurance coordinator at The Engel Burman Group

Garden City, NY Andreas Boyiakis has joined The Engel Burman Group (EBG) in the company’s construction division as insurance coordinator.

Commercial Classroom: Commercial commissions - by Edward Smith

All commission rates are negotiable.  What is fair compensation for our services? When we sell a building, we are generally paid a percentage of the selling price, in other words our fee is based on a percentage of the seller’s financial gain. Due and payable on title passage.

BOMA LI holds presentation - February 14th

Melville, NY BOMA LI held a presentation on February 14th  that focused on utility discounts, 2019 PSEG Rebates, latest LED approved fixtures/lamps and topic requests. The event was held at 68 South Service Rd., RXR Lower Level Team Room.

Ruiz of JLL reps TRITEC in 3,813 s/f lease at 3 Technology Park

East Setauket, NY According to TRITEC Real Estate Co., Inc., St. Charles Rehabilitation has renewed their lease for 3,813 s/f at 3 Technology Dr. located in the Stony Brook Technology Center. St. Charles Rehabilitation represented themselves in the lease negotiations TRITEC was represented in the transaction by Raymond Ruiz of Jones Lang LaSalle (JLL). 

Milvado leases 9,100 s/f to Master Mechanical

Huntington, NY According to Milvado, one of Long Island’s leading owner/managers of industrial property, Master Mechanical Corp., major air conditioning/heating/plumbing contractors, signed a new 9,100 s/f lease at 163 East 2nd St. 

Breslin participates in Q&A at relaunch of Wilbur F. Breslin Center

Hempstead, NY On January 24, judge Gail Prudenti, dean of the Maurice A. Deane School of Law led a forum and Q&A session featuring Wilbur Breslin, a real estate developer on Long Island. The event was attended by 100 law students, alumni and members of the real estate community to relaunch the Wilbur F. Breslin Center for Real Estate Studies that has now become part of Hofstra Law.

Cotsalas of NorthMarq arranges $3.75 million refinance of 71,000 s/f industrial property in Melville

Melville, NY Charles Cotsalas, senior vice president of NorthMarq’s Long Island regional office, arranged a cash-out refinance of $3.75 million for a 71,000 s/f industrial building. The non-recourse, entity only transaction, locked at 4.33%, was structured with a 10-year fixed-rate loan on a 25-year amortization schedule. NorthMarq arranged financing for the borrower, 100 Marcus Drive Associates through its correspondent relationship with 40 | 86 Mortgage Capital, Inc., a life insurance company.

Preuss and Schmitz of Cushman & Wakefield complete two Long Island sales totaling $2.24 million

Great Neck, NY Cushman & Wakefield has arranged the sale of two properties totaling $2.24 million located on Long Island. 733 Middle Neck Rd. sold for a final closing price of $1.24 million. 481 Meacham Ave. in Elmont sold for $1 million. A team led by senior managing director Stephen Preuss and associate director Kevin Schmitz represented the sellers in all marketing efforts.

Aquino of JAACRES to market retail/residential property in Southampton

Southampton, NY The Secret Broker Society Team founder Joseph Aquino, president of JAACRES, a New York City, a full-service commercial real estate brokerage company was hired to sell or rent a retail and residential property. The two-story property is located at 52 Jobs Ln.  This 1,850 s/f ground level retail and 1,000 s/f second floor apartment is situated near expertly curated deco stores, and luxury boutiques.