News: Long Island

Massey Knakal sells 29,185 s/f office building for $1.9 million on Long Island

A three-story office building at 6143 Jericho Turnpike in the Commack section of Long Island in Suffolk County was sold by Massey Knakal Realty Services in an all-cash transaction valued at $1.91 million. The property is located on the Turnpike, which is a major thoroughfare in the county. The building sits on a 29,185 s/f lot with approximately 15 parking spaces in front and 30 parking spaces in the back. There are 14 separate units in the building, two of which are vacant. Businesses include UPS, a doctor's office and a real estate company. "This was an excellent opportunity for an investor/user looking for a unique investment opportunity in a great location and solid demographics," said Massey Knakal broker Nalini Chugh, who exclusively represented the seller with broker Jonathan Berman. Massey Knakal Realty Services was the sole broker in this transaction.
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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.