News: Long Island

Fiorini of Alliance Real Estate arranges portfolio sale

According to Four G's Associates, a Long Island investor, it has purchased a three building industrial portfolio totaling 90,000 s/f. The deal was arranged by Alliance Real Estate Corp. and Colliers International. Alberto Fiorini, managing principal of Alliance Real Estate represented the buyer Four G's, while Jeff Schwartzberg, senior director and Kyle Burkhardt, director of Colliers represented the seller 26 East Park Ave. Corp., MK Realty Inc. and David Kliers." All three brokers involved in the transaction are active members of the board of directors of the Commercial Industrial Brokers Society of Long Island. The properties involved were: 915 Long Island Ave. & 18-20 Evergreen Pl., sold for $5.175 million. The property contains 90,000 s/f and is located on 5.14 Acres. 18 Evergreen Pl. contains 40,000 s/f and is 100% leased. 20 Evergreen Pl: contains 19,500 s/f and is 100% leased. 915 Long Island Ave. contains 30,500 s/f and is partially leased.
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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.