Finding the green to go green: Funding to support initiatives

Green building initiatives are "in" right now. The question for business owners is where to find the capital to support such initiatives, which are often expensive in the short term, although they return the investment and more in the long term. The SBA 504 loan program is one capital project financing tool which recognizes the importance of green. Higher loan limits are available for LEEDs or green building council certified projects, for projects which will result in 10% reduction in energy usage and for projects using significant renewable energy sources. SBA 504 is a 10% down, long term, low fixed rate second mortgage loan which combines with conventional first lien financing to make green building projects affordable for commercial projects. Roslyn Goldmacher is the president and CEO of the Long Island Development Corp. (LIDC) and the Greater New York Development Co. (GNYDC), Bethpage, N.Y.

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Houlihan Lawrence Commercial sells residential development site for $2.1 million

Pelham, NY Houlihan Lawrence Commercial, a division of Houlihan Lawrence, sold 163 Wolfs Ln. for $2.1 million. The site was previously approved for a 27-unit multifamily building with one retail space and 34 parking spaces.

GFP Real Estate signs Knit Illustrated to 4,051 s/f five-year lease at 247 West 37th St.

GFP R.E. signs Knit Illustrated to 4,051 s/f at 247 West 37th St.

The Feil Organization signs 15-year, 46,000 s/f renewal with Thompson Coburn LLP at 488 Madison Ave.

Feil signs 46,000 s/f renewal with Thompson Coburn at 488 Madison Ave.

Cushman & Wakefield arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma, LLP

C&W arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma

CBRE leases 9,527 s/f to Cypress Creek Renewables at 530 Fifth Ave.

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