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Real estate value, Vrbo & Airbnb - by John Rynne
August 13, 2024
The Vrbo and Airbnb revolution has exploded on the scene especially for residential properties. I’ve appraised a number of properties that have been used for short-term occupancy, either daily or weekly. In the past they were typical month-to-month or annual traditional rentals. Most
Corporate Transparency Act: A summary of the new reporting requirements - by Sandy Klein
August 13, 2024
On January 1, 2024, the Corporate Transparency Act (CTA) went into effect. The CTA requires businesses, including real estate businesses, to file a Beneficial Ownership Information (BOI) Reports with the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). Such
The role of a qualified intermediary in a 1031 exchange - by Michael Packman
August 13, 2024
To complete a valid and successful 1031 exchange, investors acquiring taxpayer-owned properties need the services of a qualified intermediary (QI), also known as an “exchange facilitator.” During a 1031 exchange, the individual obtaining an investment or business property
Empire Adventure Park opens 35,000 s/f
at Samanea New York
August 13, 2024
Westbury, NY Samanea New York, the new retail, entertainment and dining destination located at 1500 Old Country Rd. celebrated the grand opening of Empire Adventure Park, a first-to-market trampoline and active entertainment venue. NYS senator Kevin Thomas, the Nassau County
Hunt Corp. Commercial Real Estate Q&A: Staying ahead of the curve - by David Hunt
August 13, 2024
Q: We will be placing our professional building on the market shortly. What are some of the steps we can take now to avoid problems in the selling process?A: You are smart to be thinking ahead. Hasty, ill-informed, and costly decisions are often the result
Brookhaven IDA closes on benefits pact for Nassau Provisions expansion
August 13, 2024
Holtsville, NY Frederick Braun III, chairman of the Town of Brookhaven Industrial Development Agency (IDA) said that the IDA has closed on an agreement to provide economic development incentives for the planned expansion of a kosher grocery distributor.
Pernick joins Harris Beach’s commercial real estate practice group
August 13, 2024
Uniondale, NY David Pernick has joined Harris Beach PLLC as an associate in the commercial real estate practice group. Pernick represents institutional and private lenders in a multitude of commercial real estate transactions, including acquisitions,
Gonzalez joins Forchelli Deegan Terrana as land use & zoning associate
August 13, 2024
Uniondale, NY Taylor Gonzalez has joined Forchelli Deegan Terrana LLP ’s land use & zoning practice group as an associate. Gonzalez has experience in all aspects of real estate development, including commercial real estate transactions; zoning
Marcus & Millichap brokers sale and arranges financing for retail property
August 13, 2024
Rockville Centre, NY Marcus & Millichap negotiated the sale and financing of a single-tenant net-leased TD Bank. The 3,869 s/f asset sold for $7.65 million. Marcus & Millichap Capital Corp. (MMCC) arranged the $3.725 million acquisition financing.
Suffolk County Industrial Development Agency approves investment for Broadhollow Road Hotel, LLC
August 13, 2024
Melville, NY The Suffolk County Industrial Development Agency (IDA) has approved a transaction that will allow Broadhollow Road Hotel, LLC to invest in the construction of a 106,016 s/f four-story hotel with 143 rooms and 148 surface parking spots on three acres at 500 Broadhollow Rd.
Bonomo joins Sahn Ward Braff Koblenz Coschignano
August 13, 2024
Uniondale, NY Sahn Ward Braff Koblenz Coschignano welcomed Julianne Bonomo as an associate with the firm. She will concentrate her practice in real estate law and transactions and corporate law
Nelson & Pope promotes Gurnick to senior associate
August 13, 2024
Melville, NY Nelson + Pope (N+P), a local engineering, architecture, and surveying firm has promoted Keith Gurnick, RA, LEED AP to senior associate. With this promotion, Gurnick, in addition to overseeing his team, now heads the architectural department and will focus
NY Axe leases 4,023 s/f at Samanea New York
August 13, 2024
Westbury, NY Samanea New York, the new retail, entertainment and dining destination located at 1500 Old Country Rd., has signed a new lease with NY Axe. The Long Island-based axe throwing range will occupy 4,023 s/f on the second floor of Samanea New York and is expected
Zago of NAI Long Island represents Spector, Foo, Weissman in 4,334 s/f office lease
August 13, 2024
New Hyde Park, NY Joe Zago of NAI Long Island facilitated a long-term lease for 4,334 s/f of office space at 3333 New Hyde Park Rd. on behalf of Spector, Foo, Weissman, LLP., a Long Island based certified public accounting firm. The landlord is Steel Equities.
Colliers leases 24,409 s/f to OALI at
TRITEC’s 6 Technology Dr.
August 13, 2024
East Setauket, NY Orthopedic Associates of Long Island (OALI) has signed a long-term lease extension at 6 Technology Dr., a building operated by TRITEC Asset Management. The 24,409 s/f transaction was facilitated by Colliers, with vice presidents Maria Valanzano and Steve
BRP Companies celebrates grand opening of phase 1 of The Arboretum at Farmingville
August 13, 2024
Farmingville, NY BRP Companies alongside public officials and project partners celebrated the grand opening of phase I of The Arboretum at Farmingville, a 494,000 s/f, 292-unit, garden-style, residential community located at 510 Horseblock Rd. within the town of Brookhaven.
Empire nears completion of Red Cross Blood and Platelet Donation Center
August 13, 2024
Fairport, NY Empire Commercial Construction is nearing completion of their contract for the newly expanded American Red Cross Blood and Platelet Donation Center. Empire partnered with LIVE Design Group for the associated buildout of the 4,000 s/f space within Perinton Hills
Leviticus Fund closes on $18.3 million in lending capital from New York Green Bank’s CDF program
August 13, 2024
Tarrytown, NY The Leviticus Fund closed on an $18.3 million investment from the NY Green Bank’s Community Decarbonization Fund (CDF). This low-cost capital will enable the Leviticus Fund to support and finance building decarbonization projects benefiting historically underserved
Cleeman Realty Group negotiates off-market sale of 102,337 s/f Wegmans Supermarket store
August 13, 2024
Irondequoit, NY Cleeman Realty Group brokered the sale of a single tenant Wegmans Supermarket. The 102,337 s/f building is located at 525 Titus Ave. and is on a 12+/- acre site. The Wegmans is part of a larger center called Irondequoit Plaza anchored by Big Lots, Dollar Tree
Landmark Properties and W5 Group start development on Standard at Syracuse
August 13, 2024
Syracuse, NY Landmark Properties together with W5 Group have closed on its acquisition of a two-acre site in the University Hill neighborhood, one block from the northern border of the Syracuse University.
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