News: Brokerage

Metro Realty Services sells two properties totaling $7.75 million and negotiates three leases

740 Blue Point Road - Holtsville, NY

Holtsville, NY Metro Realty Services sold two properties totaling over 30,000 s/f and $7.75 million.

Nicholas Romano, Andrew Blumenthal, and Mark Timpone of Metro Realty Services, LLC sold 16,000 s/f at 740 Blue Point Rd. to 240 Blue Point Realty LLC for $3.95 million. Romano represented the seller, 740 Realty Corp., and Blumenthal and Timpone represented the buyer.

Jeremy Hackett of Metro Realty Services sold 15,000 s/f at 750 Blue Point Rd. to Sensaras LLC for $3.8 million. Hackett represented the seller, NEPS Property Inc., and Mark Pawalcheck of Compass Real Estate represented the buyer.

And Metro Realty Services negotiated three leases.

Romano leased 927 s/f office space at 320 Northern Blvd., Ste. 11, Great Neck, to Avon Capital Advisors LLC. Romano represented the landlord. Robert Birnbaum represented the tenant.

Romano leased the 9,000 s/f industrial building at 190 McCormack Dr., Bohemia to MFLH Roebling LLC. Romano represented the landlord. Birnbaum represented the tenant.

And in Farmingdale, Timpone leased the 25,000 s/f industrial building at 65 Price Pkwy. to S&S Sports. Timpone represented the landlord and Property Professionals Realty represented the tenant.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.