Long Island

Dunne, Pride, Apfel and Virtue of CBRE complete $472.5 million Long Island apartment multifamily portfolio sale

Long Island, NY CBRE has completed the $472.5 million sale of a seven-property portfolio in Nassau and Suffolk Counties. The CBRE team of Jeffrey Dunne, Gene Pride and Eric Apfel, along with Alexander Virtue of CBRE Capital Advisors

Fiore joins Forchelli Deegan Terrana as partner

Uniondale, NY Louis Fiore has joined the law firm of Forchelli Deegan Terrana as a partner in the real estate and industrial development agency (IDA) practice groups, according to Jeffrey Forchelli, managing partner of the firm.

Triangle Equities launches sales at Kensington Estates: A 55 and over townhome community; Project team: Nelson & Pope, GRCH Architecture, Kate Singer homes and Emtec

Woodbury, NY New York-based Triangle Equities has launched sales at Kensington Estates, a 55-and-over exclusive community. The sales office is located on the corner of Jericho Tpke. and Plainview Rd., and its opening comes on the heels of construction beginning in mid-December.

IDA of the Month: Brookhaven IDA closes 2018 with
strong investment and job numbers; Committing $344 million

Farmingdale, NY The town of Brookhaven Industrial Development Agency (IDA) had another strong year in 2018 with businesses committing to invest $344 million in projects

Hunt of Hunt Corp. reps Chembio in 70,000 s/f lease; O’Connor and Gazzola of NKF rep landlord

Hauppauge, NY According to Hunt Corporate Services, Inc., Chembio Diagnostic Systems has leased a 70,000 s/f building at 555 Wireless Blvd. David Hunt of Hunt Corp. represented Chembio.

Commercial Classroom: Assumption agreements - by Edward Smith

Often a lease will have an option for renewal by the tenant. If the option is exercised the broker is usually entitled to an additional commission. But what happens if the building is sold before the option becomes due?

SWC names Lawrence a partner and hires Brees as a new associate

Uniondale, NY Sahn Ward Coschignano, PLLC has promoted Kyle Lawrence to partner and hired Joseph Brees as a new associate.

Hunt of Hunt Corp. receives LIBN award

Plainview, NY According to Hunt Corporate Services, Inc., David  Hunt, president of the firm, has been honored with the Long Island Business News “Citizenship Award – Real Estate Professional.”

Coldwell Banker NRT honors top brokers: Bestourous, Conde and Robinson

Melville, NY Coldwell Banker NRT regional manager Bill McCartney and Paul Fetscher, CCIM, CRX CLS, senior commercial real estate advisor, named the firm’s top performers among the 62 commercial brokers.

Oliver of NKF reps TRITEC in 15,030 s/f lease to LGBT Network; Crennan, Ruiz and Dugan rep tenant at 125 Kennedy Drive

Hauppauge, NY According to TRITEC Real Estate Company, Inc., LGBT Network has signed a lease for 15,030 s/f at 125 Kennedy Dr. The 65,000 s/f office building is located in Hauppauge Industrial Park.