News: Long Island

Epstein and Faranda of RC Commercial Partners complete two sales - $6.14 million

277 Northern Boulevard - Great Neck, N.Y.

Great Neck, NY RC Commercial Partners, the commercial division of Realty Connect USA, brokered two sales transactions totaling over 28,000 s/f.

277 Northern Blvd., a 27,170 s/f office building was sold for $5.62 million. The seller, Miracle Miles Properties 1, LLC was represented by Ron Epstein and Adrianne Faranda of RC Commercial. The purchaser 277 Northern Blvd., LLC (Wego Chemicals) was represented by Kyle Crennan of JLL. The transaction is an IDA approved deal that will bring an additional 23 jobs to Wego Chemicals workforce. Besides its Great Neck headquarters, the 44-year-old company has more than 30 warehouses around the world and offices in Brazil, China, Mexico, the Netherlands and Turkey.

99 Tulip Ave., Floral Park, a 1,760 s/f office condominium was sold for $520,000. The seller was Tulip Enterprises, LLC, represented by Epstein and Faranda of RC Commercial. The purchaser, The Paykin Group Inc., owns the space adjoining the sold condominium and is expanding their operation.  This was an all cash transaction.

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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.