News:
Long Island
Posted: June 2, 2020
Densen, Mayor of Island Assocs. completes $1.5 million sale of 15 acres
Central Islip, NY Lawrence Densen and Chris Mayor of Island Associates Real Estate completed the sale of the 15 acres, know as Papas Farm, located at 992 Connetquot Ave. The property was sold to an investor and developer Titan Acquisitions for $1.5 million
Densen and Mayor represented the seller and buyer.
COVID-19 made for a challenging transaction. To keep all parties safe and social distanced, the sale was closed electronically and via overnight mail over a three-day period. “Both parties were happy with the closing,” Densen said.
Titan intends to build single-family homes and bring new families to the community.
Papas Farm was a multi-generation family farm, and a fixture in the community. The Papas family is continuing to farm in central PA.
Tags:
Long Island
MORE FROM Long Island
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
Quick Hits
.gif)
.jpg)
Columns and Thought Leadership
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.