News: Long Island

Perna of Newmark Knight Frank arranges $4 million sale

Ralph Perna, 
Newmark Knight Frank

Hauppauge, NY According to Ralph Perna, executive managing director of Newmark Knight Frank, American Regional Health has purchased 45 Adams Ave. for $4 million. The seller was Forest Labs/Allergan Pharmaceutical. The 28,000 s/f industrial property is situated on 2.03 acres. The buyer will be manufacturing nutraceticals (vitamins) in the new facility. Perna represented the buyer and seller.

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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.