News: Long Island

Fornabaio of Vanderbilt Realty leases 1,000 s/f

Anthony Fornabaio, Vanderbilt Realty

Rockvile Centre, NY Anthony Fornabaio, director of leasing at Vanderbilt Realty, has negotiated the lease of a 1,000 s/f, newly renovated retail space on Sunrise Hwy. Vanderbilt Realty who handled the exclusive listing from 200 Sunrise Associates LLC, represented the tenant and landlord. This newly renovated 1,000 s/f store will be the new home of Meraki Kitchen & Bath. The lease price equated to $28.80 per s/f with annual increases. 

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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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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.