News: Long Island

Fiorini and Posillico of Alliance Real Estate represent WDP Enterprises in $1.85 million sale; Schacker Real Estate acts for buyer, Stellae International

According to Alliance Real Estate Corp., WDP Enterprises sold 1591 Smithtown Ave. to Stellae International, Inc. for $1.85 million, or $101 per s/f. The new 18,382 s/f industrial building was delivered in 2009 in the Ronkonkoma/Bohemia Industrial submarket. Alberto Fiorini and Frank Posillico, managing principals, of Alliance represented the seller. The buyers were represented by Schacker Real Estate Corp.
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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.