Hicksville, NY ACS System Association has purchased a 30,000 s/f industrial building located at 101 New South Rd. for $5.15 million.
Mario Asaro of Industry One Realty Corp. represented the buyer and John LaRuffa of NAI Long Island represented the seller, The Center For Development Disabilities Inc.
“The property had a significant amount of interest in it when it first Came on the market so I convinced my customer ACS Systems to make a strong offer right out to the gate by highlighting the potential tax abatement and mentioned the impending bidding war if we came in too weak,” said Asaro.
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.