Hunt Corp. Commercial Real Estate Q&A: Lease options - by David Hunt

Q: Our company is negotiating a long-term lease for a new manufacturing facility. How important is an option to renew or purchase? A: The definition of an option is a provision in an agreement that gives one party the right, but not the obligation, to exercise a right of some kind. This is important to keep in mind when negotiating tenant options in a lease.

Aziz launches Ash Property Advisors

Great Neck, NY After a decade leading acquisitions at Klosed Properties, Shawn Aziz has launched Ash Property Advisors, a boutique commercial real estate brokerage focused on trust, transparency, and long-term relationships.

Residential agents thinking about doing commercial transactions...You don't know what you don't know! - by Edward Smith Jr.

You can’t just dabble in commercial and investment properties; you need to know what you are doing. Unfortunately, we see some residential agents trying to service a commercial real estate opportunity without being properly trained.

Suffolk IDA approves Project Patriot: Orbic Electronics to launch advanced electronics manufacturing hub

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has approved a major investment to support Orbic Electronics Manufacturing LLC in launching “Project Patriot,” a bold initiative to return high-tech electronics manufacturing to Suffolk County.

Brookhaven IDA closes on incentives pact enabling biotech firm to purchase 10,000 s/f in Bellport

Bellport, NY Frederick Braun III, chairman of the town of Brookhaven Industrial Development Agency (IDA) said that the IDA has closed on a package of economic incentives that will allow a biotechnology company in Stony Brook University’s Long Island High Tech Incubator (LIHTI) to buy and equip an

Mason Tech. to establish global headquarters at 395 Oser Ave.

Hauppauge, NY Mason Technologies Inc. plans to establish a new global headquarters at 395 Oser Ave. This $20.8 million expansion project is anticipated to retain 237 current Suffolk County jobs and create an additional 25 new positions, bringing the company’s local workforce to 262.

JLL secures $140m refinancing for TRITEC’s
418-unit Shoregate apartment development

Bay Shore, NY JLL Capital Markets arranged $140 million to refinance the Shoregate, a newly-built, 418-unit multi-housing development located at 143 4^th Ave.

CIBS-LI presents Shwom of Schacker Real Estate with “Most Ingenious Deal of the Year” award

Melville, NY The Commercial Industrial Brokers Society of Long Island (CIBS-LI) presented the 2024 “Most Ingenious Deal of the Year” award to Philip Shwom, SIOR, CCIM, president of Schacker Real Estate Corp., for his leadership in securing Antech Diagnostics’ lease of 87,864 s/f at 195 N. Broadway in Hicksville.

Successfully challenged your taxes? Don’t forget about the exceptions - by Robert Renda and Lauren Smith

It is no secret that New York State, and Long Island in particular, has some of the highest property taxes in the country. As a result, the majority of property owners on Long Island challenge their real estate tax assessments annually. In most taxing jurisdictions on Long Island, the real estate tax assessment

HIA-LI and Long Island Economic Development Task Force spotlight South Bay Village project

Hauppauge, NY HIA-LI’s Economic Development Task Force held an exclusive “The Process and The Project” presentation highlighting the proposed South Bay Village project from Rechler Equity Partners. The event brought together regional business leaders, elected officials, and community stakeholders to discuss the vision for the shuttered Island Hills Golf Course in Sayville.