News: Long Island

Prudential Douglas Elliman to market Oyster Bay properties

Renaissance Realty Services has chosen Prudential Douglas Elliman to exclusively market the leasing and selling of Island Properties' available commercial and residential properties in Oyster Bay Hamlet. This will include the residential properties in the Mariner's Walk townhouse development. "We are encouraged by our recent activity in Oyster Bay and see the addition of Prudential Douglas Elliman with its comprehensive residential and commercial market coverage and resources as a perfect complement to our team," said Michael Picker, chief executive officer of Renaissance Realty Services. Island Properties owns approximately 80 commercial and residential properties in Oyster Bay Hamlet and is dedicated to expanding on the current success of the properties throughout an ongoing extensive renovation program. "Our job will be to maximize the use of all Island Properties commercial properties within Oyster Bay," said Michael Murphy the managing executive director of commercial services. "The Island Properties portfolio is a special opportunity to meaningfully contribute to the Hamlet's economic vitality while maintaining its character." Fern Karhu, executive director of Prudential Douglas Elliman's North Shore Region and co-director of Prudential's New Homes Division said, "We are thrilled to be working together with Renaissance in Oyster Bay. We particularly look forward to the marketing and sales of Mariner's Walk."
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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.