News: Long Island

Cummings Posillico Group and RCG to complete 244-unit condominium project for $275 million

The region's leading commercial landlord has partnered with a top developer of luxury residencies and mixed - use urban communities to form a new $2.8 billion development powerhouse. One of their high-end residential communities, in North Hills will feature 244 Ritz Carlton five star condominium residences with a clubhouse, restaurant, lounge, spa, fitness center and pool on 17 acres of land. Bob Posillico, principal of Cummings Posillico Group Construction discusses the project further: "The project consists of 730,000 s/f of new luxury residential structures and 300,000 s/f of subterranean parking." North Hills is a joint venture of Cummings Posillico Group and RCG; Rex Midtown contracted the two construction management firms. The Ritz Carlton Residences at North Hills will be the most luxurious condo complex ever built on Long Island, when the total project is completed it will have cost $275 million.
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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
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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.