News: Long Island

NAI Long Island completes three leases totaling 21,280 s/f

NAI Long Island (Roslyn Heights, N.Y.) recently completed three transactions totaling 21,280 s/f. In the first transaction, Carmine Inserra and Brett Rosenthal of NAI Long Island represented Lazar Sanders Thaler & Associates, LLP. in their relocation to 7,800 s/f at 350 Jericho Tpke. John Schmergel of Schmergel Associates represented the landlord. In the second transaction, Brian Pinnola and Joseph Maffia of NAI Long Island negotiated an office and warehouse lease for Sunjin Shipping (USA), Inc. at 149-15 177th St., Jamaica, N.Y., an 11,730 s/f office and warehouse building. The facility is part of Seagis AirPark at JFK, a portfolio of 550,000 s/f in 27 buildings of which Pinnola and Maffia are the exclusive agents. This will be Sunjin's third relocation since 1994 working with Pinnola. In the last transaction, Pinnola and Maffia negotiated an office lease on behalf of their long-standing customer Aspen Forwarders and Custom House Brokers, Inc. for 1,750 s/f of office space at 20 W. Lincoln Ave., Valley Stream, N.Y. Aspen Forwarders has worked with Pinnola for three other moves in 1992, 1996 and the present move.
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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.