News: Long Island

Racanelli Realty Services named exclusive agent for 1555 Montauk Hwy.

Racanelli Realty Services Inc. recently was awarded an exclusive brokerage assignment for the sale of a 5,641 s/f commercial/industrial building. The property located at 1555 Montauk Hwy. is situated on a 0.25-acre plot and features both office and industrial space with 13-ft. height and six loading docks. The property, which is zoned J2 Business, and features gas heat, commercial electric service and air conditioning in the office space. Racanelli associate broker/construction principal Eugene Racanelli is handling the transaction. Racanelli will lend his over three and half decades of real estate industry experience including hands-on building/construction and real estate development. His experience extends over diverse properties from commercial, industry and retail to healthcare facilities and historic landmarks. In addition, he brings added value to his clients through his strong working relationships within the broader business community and with local municipalities. Racanelli Realty Services, Inc. has built its reputation on a legacy of trust and high quality services spanning over six decades. The company is recognized as a premier provider of comprehensive real estate brokerage and property management services for the commercial, industrial and retail real estate markets. Property owners, investors and businesses in diverse industries rely on the company to maximize their real estate assets, facilitate sound real estate transactions, and optimize their real estate decisions. Racanelli's brand of brokerage services are distinguished by the fully-integrated solution provided to both landlords and tenants. Distinguishing its property management services is the shared perspective the company's principals have with real estate owners/investors based on its long tradition as a property owner/investor, as well as its knowledge of all aspects of real estate from building and development to hands-on ownership and leading-edge property improvement, energy efficiencies and tenant satisfaction initiatives.
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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.