News: Long Island

Cohen of Ashlind Properties arranges two sales totaling $6.9 million

Richard Cohen, president of Ashlind Properties has arranged two sales totaling $6.9 million on behalf of Carson Optical Inc. in Hauppauge and Ronkonkoma, allowing the optical equipment manufacturer to more than double its space. Carson paid $4.5 million for a 50,800 s/f former DHL sorting facility at 2070 Fifth Ave., Ronkonkoma, and was assisted by the Islip Industrial Development Agency in the purchase. Cohen was the sole broker on the deal. The optical maker moved into the new facility in October because of a need for additional warehouse space and room for its expanding engineering department. The seller, SVF New York !, an investment fund, vetted Ashlind and several national real estate firms before selecting an exclusive broker and, ultimately, picked Ashlind based upon it's knowledge of the local marketplace and its volume of closed transactions, a spokesperson said. Cohen also arranged the sale of Carson Optical's former 25,000 s/f building at 35 Gilpin Ave., Hauppauge, for $2.4 million, to the Jobin Org. in a deal assisted by the Suffolk County Industrial Development Agency. Jason Miller of Premier Commercial Real Estate represented Jobin. The transactions bring Cohen's transaction volume - sales and leases—so far in 2014 to almost 1.4 million s/f. Founded in 1990, Hauppauge, New York-based Ashlind Properties has been recognized as Co-Star's Top Brokerage Firm in the Long Island market place every single year since 2002. It has been recognized every year since 2008 for arranging the largest real estate deals of each year. Ashlind, which specializes in all types of commercial real estate and leasing transactions focused largely on Suffolk County, has numerous repeat clients, including ELM, CMB Wireless, LNK and Global Tissue Corp.
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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.