News: Long Island

NAI Long Island acts as the managing agent of Village Lofts in Nassau County

Village Lofts, one of Nassau County's first modular multifamily rental projects, has celebrated its grand opening with a state, county, and village representatives. The 29-unit transit-oriented project, developed by La Cité Development, LLC contains 23 (80%) workforce housing units and six (20%) affordable housing units. Nassau County executive, Ed Mangano has allocated Federal funds to aid in the development of affordable housing in Nassau County. Mangano said, "Long Island has a severe shortage of rental housing stock in comparison to other areas. My administration understands the link between housing that is affordable and a growing economy. That is why we have provided Federal dollars to assist in the construction of affordable rental units here in Nassau County." The gated community offers rentals with contemporary floor plans & amenities, high ceilings, maple wood floors, over-sized windows, GE Energy Star appliances, and a modern feel at an affordable price. Douglas Elliman's Maria Boafo, Matthew Korman, and Orlando Frade are the exclusive leasing and marketing agents for the property, and NAI Long Island will act as the property's management company. Shown (from left) are: Nassau County executive Ed Mangano; Hempstead mayor Wayne Hall; Hempstead Village trustees Donald Ryan and Luis Figueroa; Dan Bythewood, Jr., Alicia Bythewood and Dan Bythewood, Sr. from La Cité Development, LLC; Marilyn Singh, Village Loft's first renter; Henry Holley of the town of Hempstead Housing Authority; Frank Socci, Jr., principal of NAI Long Island; Barbara Becker and Anthony Eserno of TD Bank; and Eli Dubinsky, PE, president of Dubinsky Consulting Engineers, PC.
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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.