News: Long Island

Long Island Commercial Network holds semi-annual gala Aug. 14

The Long Island Commercial Network (LICN) held its semi annual gala evening on August 14, which was a free, members-only event. The day started with golf followed by the evening celebration. Food and drink were plentiful as well as good conversation with an opportunity to meet each other and share business ideas and resources. Much of the discussion focused on the successes shared by LICN members with each other and sponsors. Contrary to what some think is possible, members help each other with new business opportunities. LICN also emphasizes support of our sponsors and we work hard to be sure the sponsors are involved in the group and an active source for customers of the members. Members shared some of their recent success stories: Bradley Diamond of Coldwell Banker Commercial NRT shared his success story about Jo Haramis of Floors Decor, a sponsor. He referred Haramis to his customer which was a dance studio and Haramis made him proud with a "priced right" floor delivered in just the right time. Andrew Saluk of Nassau Educators Federal Credit Union (NEFCU) worked with Jason Kohl of Kohl Capital to refinance a $475,000 industrial building in Amityville and closed an SBA 504 loan with Harvey Sussman of Americana Mortgage Group for the purchase of an auto dealership for $1.102 million. Free raffle prizes were the highlight of the evening and a great way to end it. There were so many prizes available that more than half the attendees walked out with a prize. The camaraderie continues at the next LICN meeting. Join!
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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.