ABLI and CIBS presents Most Ingenious Deal Award to CBRE, developer of the year to Rechler Equity Partners

Shown (from left) are: Martin Lomazow of CBRE, Mark Weiss of Newmark Grubb Knight Frank, ABLI president Laureen Harris, CIBS president David Chinitz, Mitchell Rechler and Gregg Rechler of Rechler Equity Partners, and Philip Heilpern of CBRE.

Old Bethpage, NY The Association for a Better Long Island (ABLI) and the Commercial Industrial Brokers Society (CIBS) has presented the Long Island real industry’s most-prestigious awards.

The Most Ingenious Deal of the Year Award was presented to Martin Lomazow and Phil Heilpern of CBRE Inc. for a transaction that will enable Publishers Clearing House (PCH) to move from two buildings in Port Washington to 171,000 s/f of leased office space in the We’re Group’s 300 Jericho Quadrangle.

Both PCH and We’Re received tax incentives from the Nassau County Industrial Development Agency to renovate the building and keep PCH’s headquarters in Nassau County.  Lomazow and Heilpern also assisted PCH in early 2015 in the sale/leaseback of its two buildings, which are on 18 acres in Port Washington, to the investment firm, Little Rock Construction.  Mark Weiss of Newmark Grubb Knight Frank in Manhattan assisted in the transaction.

The Developer of the Year Award, meanwhile was presented to Rechler Equity Partners, of Plainview, for 220 Rogers Way, the Hamptons  Business District, a 60,000 s/f, class A commercial project at Gabreski Airport in Westhampton Beach. The Hampton Business District includes 50 acres leased from Suffolk County. About 85 percent of the space in the 220 Rogers Way has been leased to AC Lighting & Electric, Carrier Enterprise and Tate’s Bake Shop. The $9 million building was built and designed in-house by Rechler Equity Partners in collaboration with Arrowstreet Architecture and Design, of Boston.

The awards were announced April 7 at the annual gala dinner of the ABLI and CIBS, which brought together hundreds of Long Island regional real estate industry leaders and professionals at Carlyle on the Green in Bethpage State Park.

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