News: Long Island

Metro Realty Services closes three sales and one lease

Metro Realty Services, LLC, a Farmingdale based commercial real estate firm, closed the following deals during the 2nd Quarter of 2012: Jeremy Hackett completed the following transactions: Sold 5,200 s/f at 701-4 Koehler Ave., to Exotic Wood. Mike Zere of Zere Real Estate Services represented the seller. Sold 19,950 s/f at 333 Wyandanch Ave., West Babylon to 201 Classic Galleries. Harvey Kolin of Corporate Commercial Realty LLC represented the buyer. Hackett and Rick Falco completed the following transactions: Sold 375 W. Sunrise Hwy., Freeport to Tile Expo. Hackett and Falco represented the buyer and the seller. Leased 7,850 s/f at 303 Smith St., Farmingdale to Prestige Fundraising who moved from 148 Allen Blvd., Farmingdale. Mario Asaro of Industry One represented the landlord.
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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.