Historically, and throughout the life of new evolution within the technology sector, there has been skepticism, criticism, and the sheer denial to what technology could produce, uncover and resolve.Melville, NY
Nicholas Battaglia of Stonegate Real Estate has brokered a 6,651 s/f lease at 532 Broadhollow Rd., the Broadhollow Corporate Center. Battaglia represented the tenant, Greater New York Financial Services. Centereach, NY
Wells Fargo has awarded a $25,000 grant to Community Development Corp. of Long Island (CDCLI) for its Homeownership Center. The grant will support the center’s existing housing counseling services,Oyster Bay, NY
Eric Launer, an associate board member of the Commercial Industrial Brokers Society of Long Island (CIBS) told the town board that CIBS supports a proposed three-story hotel in Jericho.
Paul Schneider, senior director, and Carmine Inserra, principal, of NAI Long Island, represented the tenant, Elite Search Group, in the lease of 1,505 s/f.
Plainview, NY Metropolis Property Group LLC has closed on the Plainview Residence Inn by Marriott located at 9 Gerhard Rd. James Johnston of Metropolis represented the seller, Greenbriar Associates LLC, in the sale of the 4.24-acre property that currently consists of a 150,000 s/f, 170 key extended stay Residence Inn hotel.
Q: I own the building that houses my construction business. We are considering purchasing a larger building and moving. My broker suggested a 1031 exchange. How does that work and is it worth the effort?
A: It is absolutely worth considering in your situation. Briefly, it allows you to “kick the can down the road” and defer federal income taxes and capital gains taxes on any gain that you may have on the sale of your present property.
Farmingdale, NY Alfa Piping Corp. has purchased a 20,000 s/f office and warehouse space at 71-75 Verdi St. for $2.6 million. Mario Asario, Desmond Mullins and Andrew Gonzalez of Industry One Realty Corp. represented the tenant, Alfa Piping Corp., as well as the seller, Verdi Realty LLC.
Melville NY According to T. Weiss Realty Corp., a family-owned developer, landlord and manager of commercial real estate, Hardesty & Hanover, LLP, a 130-year-old civil engineering firm, has leased 2,594 s/f of office space.
Hauppauge, NY The Crest Group, headed by CEO Enrico Scarda, has closed on the Crossroads office portfolio consisting of 400,000 s/f which includes four buildings in Hauppauge and nine buildings in Islandia at exit 57 off Long Island Expressway. A sales prices was not disclosed. The transaction was direct with the buyer and seller.