News: Long Island

Lynch of FMC Realty secures three sales including $2.25 million with Breslin; Yellin of FMC closes $575,000 sale, two leases-10,200 s/f

According to FMC Realty Associates, the firm has concluded the following five sale transactions and two leases: Chris Lynch, managing partner at FMC was the procuring broker in the sale of 400 Old Country Rd. The building was sold to Chief Equipment. Bob Rosenfeld of Breslin Realty (www.breslinrealty.com) represented the seller. The 10,000 s/f building was sold for $2.25 million. In Farmingdale, Lynch was the sole procuring broker for the sale of 61 Carolyn Blvd., a 18,524 s/f industrial building. The building was sold for $1.55 million. Lynch was also the sole procuring broker for 601 Merrick Rd. in Lynbrook. The building, a 7,799 s/f light manufacturing facility on a 17,000 s/f parcel, was sold to a private investor. Finally, Lynch was the procuring broker in the sale of 4480 Hampton Rd., Oceanside. The building, a 12,000 s/f warehousing facility was sold for $800,000 to a private investor. David Yellin, managing partner at FMC, was the sole procuring broker in the sale of 146 Bangor St., Lindenhurst a 4,000 s/f industrial building with a 15,000 s/f yard. Yellin represented the owner, Selcto-Flash Safety, Inc. The property was sold for $575,000. Yellin simultaneously moved Selecto-Flash to a new 4,000 s/f industrial facility at 97A Otis St., West Babylon. The property was represented by Kenneth Niemczyk Sr. of NY Prime Properties. Yellin also arranged a lease at 1 Enterprise Pl., Hicksville, a 6,200 s/f industrial facility. Yellin represented SB Max Global Corp. in the 5-year lease. The property is owned and managed by Simone Development. Yellin, represented Zegen Trading Inc. in leasing a 4,000 s/f industrial facility at 85 Hoffman Ln., Islandia. The building is owned and managed by Brent Mako Associates. Donna Leto was the in-house leasing representative for Brent Mako.
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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.