News: Long Island

Delisle and Nicholson of Island Associates sell 1.5 acres for $2.35m

Roger Delisle and Chris Nicholson of Island Associates brokers 1.5 acres (60,000 s/f) of J 2 zoning to Commerce Bank in Ronkonkoma on Portion Rd. Commerce plans to construct an approximately 4,000 s/f building with 3 drive-thru's. The property is located at 474 Portion Rd., opposite the New Stop & Shop. This was a dilatory approval process involving multiple meetings with the town and civics during a 34 month process, this application encountered opposition from local civics opposing the development of this parcel. The property was opposed to development from the local civics, contributing to delaying the approval process in the town of Brookhaven. The sale of the land was $2.35 million. Commerce Bank intends to commence work at this site within the next three months.
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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.