News: Long Island

McCloskey and Roth of New York Commercial Real Estate complete $2.35 million sale

Real estate sales consultants Gerry McCloskey and Scott Roth of New York Commercial Real Estate (NYCRE) assisted by Louis Castellano of Ulrich Real Estate, have completed the $2.35 million sale of a 6,800 s/f free-standing building located at 2245 Middle Country Rd. McCloskey and Roth represented a private seller. The buyer, Bethpage Federal Credit Union, was represented by Brian Lee and Billy Skelos of Newmark Grubb Knight Frank. Also assisting in the transaction was Anthony Edelman, assistant VP of Bethpage Federal Credit Union. The property, a former HSBC Bank location, will become a new Bethpage Federal Credit Union branch and corporate lending office. Bethpage, one of New York State's largest credit unions, currently has 28 Long Island branch locations, 12 of which are located in Suffolk County.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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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.