News: Long Island

Pino and Jawdat of NYCRE sell 30,000 s/f retail

Huntington, NY New York Commercial Real Estate (NYCRE) has sold 30,000 s/f of retail space known as the Raleigh Building, originally listed for lease, has instead been sold. Located on Rte.110, this location has 10,000 s/f of rented retail space on the ground level including an Italian restaurant and spa. The second level contains 10,000 s/f of office space  with tenants including an attorney practice, insurance agency, and an additional 10,000 s/f on the third floor where tenants consist of a lab testing facility and therapist offices. The property is located at 315 Walt Whitman Rd., across from The Walt Whitman Mall and is close to the Long Island Expressway.

“We are thrilled to have offered this property for lease, and concluded with a sale,” said seller Rich Pino, an associate broker for NYCRE.

“This is a fantastic commercial opportunity. We are glad to see it sold and look forward to seeing all the new owners have to offer,” said Dunia Jawdat, NYCRE associate broker.

Dunia listened to the clients’ needs and delivered accordingly and Pino’s attention to detail and ability to present new opportunities for buyers was a key factor in this sale.

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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.