News: Long Island

Fetscher of Great American Brokerage sells former The Salt Grill to Alam

Glen Cove, NY Paul Fetscher, CCIM, CRX, CLS, president of Great American Brokerage Inc. brokered the sale of the former 160-seat The Salt Grill at 75 Cedar Swamp Rd.

Rehan Alam heads the purchasing restaurant group. Alam is also operating partner in several Manhattan restaurants including The Red Lion, Bosco, The Ellington, Alligator Pear, and Tara Rose.

The new location will operate under the name Oak & Vine, a casual classic American restaurant.

The 5,600 s/f building has a partial basement, an outdoor patio and parking for 25.

Great American Brokerage sold the leasehold assets for $295,000 and negotiated a lease extension.

The landlord was represented by Jack Britvan of Signal Realty.

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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.