News: Long Island

Donovan of Newmark Knight Frank represents Ferro, Kuba, Mangano, Sklyar, P.C. in $1.775 million sale

The Long Island-based law firm, Ferro, Kuba, Mangano, Sklyar, P.C. purchased an office building at 825 Veterans Memorial Hwy., Hauppauge, N.Y. The purchase price was $1.775 million. Ferro, Kuba, through a real estate entity known as 825 VH Realty LLC, purchased the one-story, 7,000 s/f building on two acres late last year from Fairfield Properties, of Commack. The law firm, previously in about 5,000 s/f of rented space at 350 Motor Pwy., moved into its new quarters recently. "We were looking to either sign a long-term lease in our existing space or possibly relocate when this building was brought to our attention," said partner Lance Kuba. "There are very few free standing one-story office buildings available in Suffolk County," Kuba said, "The two-acre property, situated between Hauppauge High School and the water district, is an ideal location for future expansion." Ferro, Kuba is a 30-person, eight-attorney, full-service law firm specializing in personal injury, real estate, business matters, criminal defense, and immigration law. The firm also has a 4,000 s/f office in Manhattan at 424 W. 33rd. St. Kuba said it is anticipated by the partners that about 2,000 s/f of unused space in the new Long Island office may be turned into a law center for lease to sole practitioners, but no official decision has been made. Robert Donovan, an associate director in the Long Island office Newmark Knight Frank (NKF) represented Ferro Kuba and David Berger represented Fairfield in-house. Partner Lance Kuba provided legal representation for his law firm, while Gary Hisiger and David Cohen, partners in the Garden City law firm Moritt Hock Hamroff & Horowitz LLP, represented the landlord,. Gary J. Bruno Architects, Bohemia, N.Y., designed alterations to the building. The general contractor was L&A Builders Group, Ronkonkoma, N.Y.
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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.