News: Long Island

Realty Connect USA brokers three sales totaling $3.486 million; Includes a $2.31 million sale by Musso of Realty Connect USA

Realty Connect USA has closed three sales totaling $3.486 million. The deals include: * The $2.31 million sale of 1189 Old Country Rd. (Rte. 58), a free-standing commerical building, brokered by Paul Musso, CBR, SFR, licensed associate broker of Realty Connect USA. The seller was Kaufman Allied Outdoor Furniture and the buyer was the Fortunoff family. Fortunoff was a New York-based retailer of home, jewelry and furniture stores founded in 1922 by Max and Clara Fortunoff. The original Fortunoff store was on Livonia Ave. in Brooklyn. The chain's flagship store was in Westbury, which opened in 1964. * The $595,000 sale of 592 Main St., Islip, brokered by Musso and Charles Sobotka, licensed associate broker of Realty Connect USA. The seller was Merdian Lodge and the buyer was Bohlsen Restaurant Group. The two-story commercial building is located across the street from Tellers Restaurant and the town hall. Bohlsen Restaurant Group is a family-based organization. Michael and Kurt Bohlsen, third generation restaurateurs, uphold the family tradition of mixing the essential ingredients to any successful restaurant enterprise — service, style and cuisine. * The $581,250 sale of 120 Carleton Ave., East Islip, brokered by Musso. He represented the seller, Tri-Tex Motors, and the buyer. The corner lot property contains a free-standing building on a half acre with parking and a rear yard.
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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.