News: Long Island

GCP arranges two mortgages totaling $14.3 million; Includes an $8.5 million loan handled by Perlmutter

Great Neck, NY GCP Capital Group LLC, one of the nation’s most active companies specializing in investment real estate finance, has arranged mortgage financing in the aggregate amount of $14.3 million for the following two properties: • $8.5 million for a one-story commercial retail building comprised of 158,000 gross s/f and containing eight stores, located in Holbrook, Suffolk County. Alan Perlmutter, managing member of GCP, arranged the financing for this property. • $5.8 million for a portfolio of seven two-story garden-style apartment buildings containing a total of 47 units and one professional unit, located throughout Nassau County.  Matthew Albano, senior broker of GCP, arranged the financing for this portfolio.
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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.