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Farkas of Metropolitan Realty Associates closes on 75,000 s/f acquisition for $12.6 million
February 15, 2024
Bayport, NY Joseph Farkas, CEO and founder of Metropolitan Realty Associates LLC (MRA) has closed on the acquisition of three properties comprised of a vacant 75,000 s/f, single story cold storage/freezer facility and distribution center
Commercial Classroom: Lease protections for landlords, tenants, and broker - by Edward Smith, Jr.
February 13, 2024
Many retailers consider the calendar year as if they bought all of their inventory at the beginning of the year but do not realize their profit until the end of the year. In this case they pay
Champions Martial Arts opens at Mayfair S.C.
February 13, 2024
Commack, NY Champions Martial Arts has opened a new location at Mayfair Shopping Center, according to Levin Management Corporation (LMC), exclusive leasing and managing agent for the 222,000 s/f Jericho Tpke. retail destination.
Samanea New York continues to expand its Restaurant Row, signs two new restaurant leases
February 13, 2024
Westbury, NY Samanea New York has signed two new restaurant tenants to join its expanding Restaurant Row located at 1500 Old Country Rd. The two tenants, which are expected to open in the first half of 2025, are Tous les Jours, an artisan bakery
Lucharitos to open 1,500 s/f at
TRITEC’s Station Yards project
February 13, 2024
Ronkonkoma, NY Lucharitos, theTex-Mex chain, is set to open a new location. The restaurant, situated within TRITEC Real Estate Company’s Station Yards project, will lease 1,500 s/f. TRITEC was represented in the transaction
Wells Fargo celebrates ribbon cutting
for new Woodbury branch
February 13, 2024
Woodbury, NY On January 17, Wells Fargo employees were joined by Oyster Bay supervisor Joseph Saladino and local leaders from the Syosset Woodbury Chamber of Commerce to celebrate the grand opening of its new bank branch at 7977 Jericho Tpke.
Hempstead IDA gives final approval to incentives for apartment projects in Woodmere and Inwood
February 13, 2024
Hempstead, NY Frederick Parola, CEO of the town of Hempstead Industrial Development Agency (IDA) said that the IDA has again taken steps to boost the supply of rental housing in the town, giving final approval to proposed projects in Woodmere and Inwood.
Kelly and Wade join Douglas Elliman Commercial
February 13, 2024
Smithtown, NY Thomas Kelly and Chris Wade have joined Douglas Elliman Commercial. Wade and Kelly are licensed real esate salespersons and commercial specialists. The notoriety and network Wade has amassed through his competitive and entrepreneurial careers
Change to East Hampton’s code regarding certificates of occupancy
February 13, 2024
Riverhead, NY Changes to the Town of East Hampton’s town code regarding certificates of occupancy (CO) went into effect on January 1, 2024. The updated town code requires that an updated CO be obtained before the property is transferred to the seller
New name: Sahn Ward Braff Koblenz Coschignano
February 13, 2024
Uniondale, NY As the firm begins its 25th anniversary year, Sahn Ward said that Elisabetta Coschignano has become a member of the firm. To recognize this milestone, and Coschignano’s accomplishments and contributions to the firm’s growth and development
Loan officers may be entitled to overtime pay - by Lisa Casa
February 13, 2024
An issue that has been a subject of recent litigation is whether loan officers are entitled to receive overtime pay. It is often the presumption that since loan officers are frequently paid on commissions and, if successful, are paid well in excess of six-figures
P.W. Grosser Consulting promotes 10
February 13, 2024
Bohemia, NY P.W. Grosser Consulting, Inc. (PWGC) has promoted 10 employees. • Andres Ballares: Project hydrogeologist from field hydrogeologist • Tim D’Agostino, PE: Project manager from senior engineer
Law of TRITEC R.E. honored with Suffolk County Public Service Award
February 13, 2024
Hauppauge, NY TRITEC Real Estate Company partner and executive vice president, Kevin Law, has been awarded the H. Lee Dennison Public Service Award. The award, presented by former Suffolk County executive Steve Bellone
Hunt Corp. Commercial Real Estate Q&A: Six essentials in acquiring real estate by David Hunt
February 13, 2024
Question: We need to expand our office and warehouse and find ourselves back in the real estate market for the first time in 10 years. What are the most important guidelines that you can give us?
REI at SBU College of Business joint panel - spring luncheon - “Challenges in a Changing Construct...
February 13, 2024
Farmingdale, NY The Real Estate Institute (REI) at Stony Brook University (SBU) College of Business will hold a joint panel event on March 8th at Heritage Club at Bethpage. The spring luncheon, titled “Challenges in a Changing Construction Environment
NAI Long Island represents Oakwood Family Partners in sale of 15,000 s/f
February 13, 2024
Mt. Sinai, NY Directors Marian Campi-Conde and Michael Corsello of NAI Long Island represented Oakwood Family Partners, LLC in the sale of the Portview Building, at 28 N. Country Rd. 28 N. Country Road is a 15,000 s/f, multi-tenant office building, situated on a corner acre.
Kennedy Funding closes $5 million
loan on Old Westbury estate
February 13, 2024
Old Westbury, NY Kennedy Funding has closed a $5 million loan on a residential estate. The loan proceeds will be used for working capital. There is no debt on the property. Despite setbacks and challenges, Kennedy was able to fill the funding void, providing the necessary capital.
Metropolitan Realty secures 33,000 s/f
long-term lease with Lumber Plus
February 13, 2024
Ronkonkoma, NY Joe Farkas, CEO and founder of Metropolitan Realty Associates LLC (MRA), executed a 10-year lease for the entire 33,000 s/f building located at 2175 5th Ave. The lease agreement was inked with Unitta Exotique Woods Corp., dba Lumber Plus
IPA Capital Markets expands its New York team with the hiring of Hulsh as director
February 9, 2024
Manhattan, NY IPA Capital Markets has hired Max Hulsh as director to its New York team led by Max Herzog and Marko Kazanjian. Herzog, Kazanjian and associate Andrew Cohen joined IPA Capital Markets in August of this year,
JLL Capital Markets arranges $70.6 million refinancing for 108-unit mixed-use development
February 9, 2024
Manhattan, NY JLL Capital Markets has arranged a $70.635 million Fannie Mae loan for SMA Equities to refinance 200 East 23rd St., a newly-completed, 20-story mixed-use property in the Gramercy Park neighborhood