News: Long Island

Alliance Real Estate Corp. completes 3 sales totaling $3.3 million

Alliance Real Estate Corp. has completed the following sales throughout Long Island: * 10 E Industry Ct. in Deer Park. The 21,000 s/f property closed on February 28. The sale price was $1.3 million. The seller was Mi-Jean Realty Corp. and the buyer was E.C. Wood Company, Brooklyn. They moved their operation from Brooklyn and were able to receive the town of Babylon IDA Tax benefits. Mi-Jean Realty Corp. was able to lease back some space in the building. The buyer agents were Jeremy Hackett and Rick Falco of Metro Realty Services and the seller agents were Alberto Fiorini and Frank Posillico, managing principals Alliance Real Estate Corp. * 337 Skidmore Rd., Deer Park. The 2,550 s/f property closed on March 18. The sale price was $300,000. The seller was Jenkins and the buyer was Haloulakos Trucking. The buyers agents were Hackett and Falco and the seller agents were Fiorini and Posillico. * 2185 Fifth Ave., Ronkonkoma. The 19,500 s/f property closed on February 13. The sale price was $1.7 million. The seller was J&L Properties and the buyer was Supreme Skylights. They moved there operation from a 12,000 s/f facility they were leasing in the Ronkonkoma area to the larger building. Both the buyer and the seller were represented by Posillico.
MORE FROM Long Island

Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.