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Reich Brothers closes on $10.325 million sale and leaseback
December 3, 2019
Buffalo, NY Reich Brothers has acquired a 205,000 s/f distribution center via a sale leaseback deal. Reich Brothers acquired 500 Bailey Ave. from Robinson Home Products for
Cole Schotz P.C. reps Cove Property Group for $724.2 million financing
December 3, 2019
Manhattan, NY Cole Schotz P.C. represented Cove Property Group in connection with a $724.2 million financing for Hudson Commons, Cove’s 25-story, 698,000 s/f office redevelopment, located at 441 Ninth Ave., in the Hudson Yards
Cushman & Wakefield sell 84,000 s/f Ferndale Shopping Center
December 3, 2019
Larchmont, NY Cushman & Wakefield (C&W) has completed the sale of Ferndale Shopping Center, an 84,000 s/f retail property. Ashkenazy Acquisition Corp. (AAC) purchased the grocery- and pharmacy-anchored asset from Ten Grand Inc.
Ralby of HKS negotiates $24m loan for Manatus Dev.; Design by GF55 Partners; financed through TD Ban...
December 3, 2019
Bronx, NY Manatus Development Group has obtained $24 million from TD Bank to finance construction of a mixed-use office building that will be the new flagship location of human and social services non-profit Samaritan Daytop Village.
Company of the Month: Lynx Mortgage Bank offers customers a simple “no surprises” approach to th...
December 3, 2019
Westbury, NY Lynx Mortgage Bank LLC was founded by a small group of mortgage and financial professionals in Long Island, seeking to offer their customers a simple “no surprises” approach to the mortgage process.
Commercial Classroom: 1031 exchange “basics” - by Edward Smith
December 3, 2019
The sale of real estate held for more than 12 months triggers capital gains taxes on the net profits of that sale. These taxes may be deferred by participating in a 1031 tax exchange, in essence, by purchasing property(s) to replace the one(s) being
BOMA Long Island’s 11th Annual “Bowling with BOMA” - Oct. 24th
December 3, 2019
Jericho, NY BOMA LI held their 11th Annual Bowling with BOMA on October 24th, which was a successful night. Their teams were very competitive, but all managed to have fun
Manicone, Fox and Cardino of JM2 Architecture design Unique Fitness in Holbrook
December 3, 2019
Holbrook, NY According to JM2 Architecture, a new facility for Unique Fitness has been completed at 4890 Veterans Memorial Hwy. JM2 was the project architect. The project cost was not disclosed.
Preuss of Cushman & Wakefield acts for Bapax Ltd. in $5.75 million sale
December 3, 2019
Hicksville, NY Cushman & Wakefield (C&W) has arranged the sale of 550 West Old Country Rd., a 48,000 s/f office/redevelopment property. The final closing price is $5.75 million.
Racanelli Construction Co. names Matassa project superintendent
December 3, 2019
Melville, NY Racanelli Construction Company, Inc. appointed Michael Matassa as project superintendent. Matassa brings over four decades of commercial and residential construction experience, and holds a New York City superintendent license
Kulka of Kulka Group appointed to LI Builders Institute board of directors
December 3, 2019
Hauppauge, NY Devin Kulka, CEO of The Kulka Group, was named one of Long Island Builders Institute’s Builder Directors.
Cushman & Wakefield acquires NAI Long Island
December 3, 2019
Melville, NY According to Cushman & Wakefield, it has acquired the brokerage division of NAI Long Island, adding 16 new commercial leasing and investment sales professionals focused on this part of the New York-Tri-State Region.
Charles Rutenberg Realty welcomes Silvers, Smith-Thomas, Wright, Kalia, and Mussington
December 3, 2019
Plainview, NY Four seasoned and two newly licensed real estate professionals have joined Charles Rutenberg Realty, Inc., citing the company’s business model, training and expert guidance as some of their reasons for choosing the firm.
CIBS donates $5,000 to Independent Group Home Living
December 3, 2019
Syosset, NY The Commercial Industrial Brokers Society of Long Island (CIBS) donated $5,000 to Independent Group Home Living Program (IGHL), a Long Island not-for-profit agency that provides lifetime alternatives for people who are
Daniel Gale Sotheby’s Int’l. Realty volunteers in Bahamas
December 3, 2019
Cold Spring Harbor, NY Over 100 real estate advisors from Daniel Gale Sotheby’s International Realty who were in the Bahamas for the organization’s Gold Circle of Excellence trip took time away from their visit to provide
Understanding the different types of easements in commercial real estate - by Ron Koenigsberg
December 3, 2019
We created a video briefly discussing easements. In the video, we touched upon the definition, the affected estates, and where to go to find more information. Despite their prevalence, many people lack a clear understanding of easements.
Understanding licenses and leases – A three-part series: A “sign” of the times - by Darren Sta...
December 3, 2019
This three-part series briefly examines the nuances of seminal New York cases concerning licenses, leases, and even easements, to assist the New York practitioner in more effectively utilizing all three tools in his or her regular practice.
Why your property must be taxed less than you think it’s worth - by Brad and Sean Cronin
December 3, 2019
From time to time, a property owner tells us that they did not grieve their property taxes because they believe they could sell their property for more than the assessed value. After explaining the benefits and legal obligations under which the
Question of the Month: What are PFAS? Forthcoming regulation and risk management for lenders - by Ke...
December 3, 2019
In the course of evaluating a potential lending transaction, both institutional and private lenders review a variety of metrics relating to both the borrower and the underlying collateral. The strength of a potential transaction will largely depend
Robust Long Island office and industrial sectors continue to bolster a strong market - by Lee Rosner...
December 3, 2019
Coldwell Banker Commercial Island Corporate Services is pleased to present Long Island’s office and industrial market reports for the third quarter of 2019, compiled using CoStar Property statistics. Relatively low unemployment and