News: Long Island

Cohen of Ashlind Properties brokers two sales totaling $3.4 million

Deer Park, NY Richard Cohen, president of Ashlind Properties, has arranged two sales totaling $3.4 million.

In the first sale, Cohen represented the seller, Sauer Real Estate Inc., and the buyer, Owen Murtagh, in the $1.6 million sale of 601 Acorn St. The new owner will use the 20,000 s/f facility for their Long Island operation. The company is an e-commerce medical equipment provider which sells / distributes the best brands of compression hospital stockings.

In the second sale, Cohen represented the seller, Sammartano Real Estate Corp., in the $1.8 million sale of 175 Engineers Rd., Hauppauge. Cohen acted as the exclusive broker in the deal. The 20,000 s/f facility was sold  to Joli Realty, LLC, who was represented by David Rotter of Metro Realty. The building previously housed a communication company.

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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.