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Jungreis and Khakshoor of Rosewood complete $14.05 million sale of two-building apartment portfolio
April 17, 2018
Manhattan, NY Rosewood Realty Group has arranged the $14.05 million sale of a two-building portfolio in Manhattan Valley. The two five-story, mixed-use buildings at 943 and 973 Columbus Ave., feature 36 apartments and four retail stores that include a grooming salon, a coffee shop and a bar. Together, the buildings sold for 13.5 times the current rent roll at a 5.2% cap rate. Combined the buildings are 18,123 s/f. Both were built in 1910.
Clifford and Barrett of Cushman & Wakefield arrange $12.8 million Gowanus sale
April 17, 2018
Brooklyn, NY Cushman & Wakefield has arranged the sale of 80 4th St., a 180’ x 107.67’ lot improved by a 17,942 s/f, single-story, brick warehouse located in the Gowanus neighborhood. The final closing price was $12.8 million, equating to $713.40 per s/f and $300,000 above the original asking price.
Marcus & Millichap brokers four Brooklyn deals totaling $6.25 million
April 17, 2018
Brooklyn, NY According to John Horowitz, VP - regional manager of Marcus & Millichap’s Brooklyn office, the firm has completed four deals totaling $6.25 million.
Long Island Industrial rebrands as Milvado Property Group
April 3, 2018
Syosset, NY Long Island Industrial, a leading owner and manager of industrial, office, mixed-use, and R&D properties in Nassau and Suffolk counties, has rebranded as Milvado Property Group. As part of this rebranding effort, the company has launched a new website and introduced a new corporate identity.
Rubin of Gettry Marcus CPA named chairperson of SunriseWALKS 2018
April 3, 2018
Woodbury, NY According to Gettry Marcus CPA, P.C., Andrew Rubin has been named a chairperson of the Sunrise Association’s SunriseWALKS 2018, which benefits Sunrise Day Camp—Long Island, one of the world’s first full-day summer camps for children with cancer and their siblings, provided completely free of charge.
Steele promoted to executive vice president of LKMA; Masseria and Corrado join as associates
April 3, 2018
Brookhaven, NY L.K. McLean Associates (LKMA) has promoted Robert Steele, P.E. to executive vice president, according to Raymond DiBiase, president and CEO of the firm.
Terzulli joins Farrell Fritz team as a real estate associate
April 3, 2018
Uniondale, NY According to Farrell Fritz, Nicholas Terzulli, former director of business development at the Nassau County Industrial Development Agency (NCIDA), has joined the firm as a real estate associate focused on economic development. He will advise companies and non-profit organizations on a range of tax incentive programs and tax-exempt financings.
Leibowitz of ML Realty honored by Hofstra University with Distinguished Service Award
April 3, 2018
Uniondale, NY Hofstra University’s George M. Estabrook Alumni Association, Inc. recently honored Maddy Leibowitz at the 57th Annual George M. Estabrook Distinguished Service Award Dinner The event was held at the Long Island Marriott, 101 James Doolittle Blvd.
Farrell of Coldwell Banker Commercial sells 4.53-acre site in Brentwood
April 3, 2018
Brentwood, NY Leo Farrell, managing principal of Coldwell Banker Commercial Island Corporate Services has completed a 4.53-acre land sale at Grand Blvd. and Rte.111. Farrell represented the landlord, Farber Industrial, LLC, and the purchaser, Inglesia Palabra MIEL Church Long Island.
Carello of KW Commercial handles sale of 10,000 s/f industrial building
April 3, 2018
Valley Stream, NY KW Commercial has completed the sale of 588 W. Merrick Rd. The site is a 10,000 s/f industrial/warehouse building. The sales price was not disclosed. The purchase was funded through private equity.
Real Estate Institute to hold Spring Symposium April 27th at Hilton Garden Inn
April 3, 2018
Stony Brook, NY The Real Estate Institute at Stony Brook University will hold its annual Spring Symposium “Moving Forward: New Infrastructure and Business Development Projects on Long Island” on Friday, April 27th at 8 a.m., at the Hilton Garden Inn located on the university’s campus.
USGBC LI/Stony Brook to hold LEED Green Assoc. Prep course April 12-26
April 3, 2018
Stony Brook, NY Stony Brook University is offering the LEED Green Associate Exam Preperation Course in partnership with the USGBC L.I. chapter. A Leadership in Energy & Environmental Design (LEED) accreditation distinguishes professionals with the knowledge and skills to successfully steward the LEED certification process.
Wong of Castagna Realty elected to LIREG’s executive board
April 3, 2018
MINEOLA, NY The Long Island Real Estate Group (LIREG), the almost-400-member philanthropic and networking group, elected real estate executive Alexander Wong to its executive board.
Deegan of Forchelli Deegan Terrana LLP presents “Benefits of the IDA” at CNLIBOR meeting
April 3, 2018
Uniondale, NY Dan Deegan of Forchelli Deegan Terrana LLP presented on the “Benefits of the IDA” to the Commercial Network of the Long Island Board of Realtors (CNLIBOR).
Commercial Classroom: Emotional support animals - by Edward Smith
April 3, 2018
This column is offered to help educate agents new to commercial and investment brokerage and serve as a review of basics for existing practitioners.
We find reference to Emotional Support Animals (ESA) in the Americans with Disabilities Act (ADA) and in the Fair Housing Laws.
Cultivating cannabis: New York on marijuana legalization - by Ron Koenigsberg
April 3, 2018
Governor Andrew Cuomo announced that New York will study whether it’s possible to legalize marijuana for recreational use as neighboring states move ahead. The study details include a look at the health, economic and criminal justice effects of legalizing marijuana. The study will also look at how marijuana legalization in neighboring states will affect New York.