News: Long Island

Racanelli Realty Services exclusive broker for 69,777 s/f industrial building

Racanelli Realty Services Inc, a full-service commercial, industrial, and retail real estate brokerage and property management firm, has been given an exclusive to sell a 69,777 s/f industrial building. The building, located at 202 Bethpage Sweet Hollow Rd., is situated on a 4.35 acre plot. Over 5,100 s/f is designed as office space. According to Racanelli Realty president Anthony Racanelli, the building is in an ideal central Long Island location with easy access to the Long Island Expressway and other major arteries. Additionally, it offers a strong rental income potential. Currently, there is a tenant occupying 14,500 s/f whose lease is flexible for any willing buyer. Other key features of the building are: a full sprinkler system, gas heat, air conditioning in the office area, 600 amp electrical system, seven loading docks, and three drive-ins.
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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.