News:
Brokerage
Posted: August 7, 2018
Koukou of Lee & Associates NYC named agent of 585 Stewart Avenue
Garden City, NY Kelly Koukou, executive managing director/principal of Lee & Associates NYC has been named the exclusive leasing and sale agent for the 155,000 rentable s/f office building at 585 Stewart Ave. In 2016, a $1.6 million renovation was completed which included the addition of all new HVAC units, boilers, carpeting and LED lights throughout. As of now, the building is currently 82 percent leased.
585 Stewart Ave. sits on 3.62 acres and includes a two-story free-standing garage. .Current tenants include Wells Fargo, Jacobson & Goldberg, Class Abstract, and Lipsky, Bresky & Lowe, to name just a few.
“With the Roosevelt Field Shopping Center, which draws over 18 million visitors every year, directly adjacent as well as a brand-new 162-room Marriot Hotel that is under construction next door, 585 Stewart Avenue provides a multitude of opportunities for buyers,” said Koukou. “With leases currently out for 13,000 s/f, 585 Stewart Ave. is well on its way to being fully rented.”
585 Stewart Ave. is conveniently located near the Long Island Expressway, Cross Island Parkway, Northern State Parkway and Meadowbrook Parkway. It is also less than a sixty-minute drive from Manhattan and is served by seven Long Island Railroad stations.
Tags:
Brokerage
MORE FROM Brokerage
People’s Arc of Suffolk signed at 10-year lease 59 Sunrise Hwy East Islip, NY
East Islip, NY People’s Arc of Suffolk has signed a 10-year lease for a 4,000 s/f freestanding retail/office building at 59 Sunrise Hwy. The property
Quick Hits
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
