News: Long Island

Prudential CRES Commercial Real Estate closes $2.2m sale and leases 1,800 s/f

Jack Jawdat, a senior real estate advisor with Prudential CRES Commercial Real Estate (Medford, N.Y.), recently reported a $2.2 million sale he closed on an 8,000 s/f property. The property, located at 154 West Broadway, consists of two retail stores on the waterfront. The seller was Mey-Scov Associates and the buyer was a private investor. In another transaction, Al Jawdat, licensed real estate sales associate with Prudential CRES Commercial Real Estate, recently closed on the lease of 1,800 s/f of office space located at 315 Walt Whitman Rd., in Huntington, N.Y. The landlord for the property is Kings Realty of America and the new tenant is 1st Consolidated Credit Corp. Prudential CRES was the exclusive broker.
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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.