News: Brokerage

Delisle of Island Associates and Carr of Douglas Elliman handle $2.05 million sale

Aerial, 675 Hempstead Turnpike - Franklin Square, NY Aerial, 675 Hempstead Turnpike - Franklin Square, NY

Franklin Square, NY Roger Delisle of Island Associates, seller’s broker, along with Will Carr of Douglas Elliman, purchaser’s broker, negotiated and closed the purchase and sale of the property located at 675 Hempstead Tpke., for a purchase price of $2.05 million.

Roger Delisle, Jr., Island Associates Roger Delisle, Jr., Island Associates

The 7,200 s/f building on one third of an acre will be developed into a retail banking location for Investors Bank.

The closing occurred in mid October and development of the property will begin this fall.

The seller will be completing a 1031 tax deferred exchange and purchase a new investment property. The site offers access at a light across from Walgreens.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking