News: Long Island

Fiorini and Posillico of Alliance Real Estate act for buyer and seller in $2.7 million sale

According to Alliance Real Estate Corp., Trendy Looks, Inc., a sportswear wholesaler, sold its industrial facility at 55 Skyline Dr. to Creative Business Solutions of New York, a computer wholesaler, for $2.7 million, or about $90 per s/f. The 29,842 s/f industrial building was constructed in 1968. The building was delivered vacant and will be occupied by Creative Business Solutions. Alberto Fiorini and Frank Posillico of Alliance Real Estate Corp. represented both the seller and the buyer in the transaction. The new owners plan to completely renovate the property, including all-new façade, roof, paving, and landscaping. The new building owners have also retained Alliance Real Estate as brokers for the additional available space within the building after renovations are complete.
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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
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Columns and Thought Leadership
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.