News: Long Island

Hakimi of Namdar brokers $3.5 million sale of 21,229 s/f office building; Five-story property located in Deer Park

60 East Industry Court - Deer Park, NY 60 East Industry Court - Deer Park, NY
Brandon Hakimi, Namdar Realty Brandon Hakimi, Namdar Realty

Deer Park, NY Namdar Realty Group, a leading commercial real estate investment firm located in Long Island, has completed the $3.5 million sale of a 21,229 s/f five-story office building at 60 East Industry Court.

Brandon Hakimi, director of acquisitions and dispositions at Namdar Realty Group, had marketed the property on behalf of the company. With extensive experience in structuring highly complicated deals, Brandon Hakimi of Namdar was able to complete the sale of the property close to the property’s asking price.

The sale included a five-story office building situated on 1.68 acres. The property consisted of a regional bank and local professional tenants The property was 84% occupied with staggered leases in place.

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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.