Profitable deals are still being made in Long Island

Increasingly, sellers are finding it difficult to sell their commercial real estate properties on L.I. Although the real estate market has slowed down in the past year, profitable deals are still being made. In order to command the highest possible sales price for your property, landlords must understand the dynamics and features involved in cultivating bids on their property. The real estate market has taken a flight toward quality. Properties being sold in today's market share specific characteristics which can be applied by any landlord interested in selling his or her property. Quality properties are characterized by location, occupancy rate and tenant strength. If a property is located in a desirable location, is fully occupied and guaranteed with a triple net lease, the property will sell in any market. The main factor hindering the sale of commercial properties is a decline in bank lending. Banks are under pressure to raise capital in order to have the resources available to lend. Vacancy is another factor hindering commercial property sales. If your property is not fully tenanted, several profitable options are available in today's market. With the decline is asking rents, purchasers are hesitant to shell out their capital for well located properties because of the existing tenants' high rental rates. Triple net properties across Nassau and Suffolk Counties are being traded more than shopping centers and strip centers. Many local landlords are refinancing and renegotiating existing loans in order to afford payments with decreased income. Qualified local real estate brokers are crucial in determining the value of a property and the anticipated sales price. Sellers should consult an experienced real estate broker who has sold properties in the area. Ron Koenigsberg is the president of American Investment Properties, Garden City, N.Y.