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Believe in mediation: An effective tool to settle construction disputes - by Andrew Richards
November 5, 2019
Many clients and attorneys believe that mediating construction disputes is a waste of money and time for a variety of reasons. Over the years I have been told that the parties are too far apart to settle, the mediator will not have the expertise to conduct a fruitful mediation and it is just a delay tactic by the adverse party.
Is the trade war with China starting to affect the real estate market? - by Ralph Perna
November 5, 2019
The trade war with China, which officially began in July 2018 when the U.S. implemented its China-specific tariff, collecting a 25% tariff on 818 imported Chinese products, is starting to show its effects with local companies. During previous administrations, I don't remember any of the Presidents....
Property tax exemptions: Are you paying more property taxes than you should be? - by Erin O'Brien
November 5, 2019
It is no secret that Westchester, Rockland and Nassau Counties have been routinely ranked in the top ten U.S. counties with the highest property taxes, with Suffolk County not far behind. According to the NYS government website, property owners in N.Y. pay 96% more in property taxes than the national median.
Nassau IDA approves incentives for Steel Equities’ Mineola project
November 5, 2019
Mineola, NY According to Nassau County executive Laura Curran and Nassau County IDA chairman Richard Kessel, the IDA has approved an economic development incentive package to commercial developer Steel Equities, which has purchased a pair of long-vacant industrial buildings.
Weiss of T. Weiss Realty leases 5,636 s/f to Hotaling Gallo in Melville
November 5, 2019
Melville, NY According to T. Weiss Realty Corp., Hotaling Gallo, a full-service insurance brokerage, has leased 5,636 s/f of office space and has relocated from Commack. Hotaling Gallo, a unit of The Hotaling Group, moved into Melville Corporate Center I, 105 Maxess Rd.
Stalco Construction and LKMA complete 18,000 s/f MBAC headquarters; Team includes Nelson + Pope and ...
November 5, 2019
Mastic Beach, NY General contractor Stalco Construction and architect, site engineer, and construction manager L.K. McLean Associates’ (LKMA) have completed the new Mastic Beach Ambulance Co. (MBAC) headquarters. The new facility is located at 343 Main St.
Pembrook Capital Management closes $5.75 million in financing
November 5, 2019
Westbury, NY Pembrook Capital Management LLC has closed a $5.75 million preferred equity investment to recapitalize 1025 Old Country Rd., a 200,000 s/f office building and colocation/data center facility. The preferred equity investment complements a first mortgage loan...
Zere of Zere Real Estate completes lease deals at Calverton Enterprise
November 5, 2019
Calverton, NY Marie Zere, president & CEO, Zere Real Estate Services has completed a string of leasing deals in the fall quarter of this year within the Calverton Enterprise Industrial Park. “Calverton has been a hotbed of activity due to the lack of industrial space in the...
Hunt Corp. Question & Answer: Subleasing blues - by David Hunt
November 5, 2019
Q: Our company needs to move to larger offices, but we still have nearly two years to go on our existing lease. Subleasing has turned out to be very difficult. What are our options?
A: Your subleasing is probably difficult because of the short term left on your lease.
Cohen of Ashlind Properties arranges two sales totaling $10.67 million
November 5, 2019
Ronkonkoma, NY Richard Cohen, president of Ashlind Properties has brokered two sales totaling $10.67 million. In the first sale, Cohen represented the seller, DEA Land LLC, and the buyer, Hi-Lo Equipment & Service, LLC, in the $5.95 million sale of of 845 South First St.
Frankel and Gordan of Silber Investment Properties complete $3.45 million sale of 2,950 s/f property...
November 5, 2019
Manorville, NY VG Manorville LLC has acquired a 2,950 s/f property at 485 County Rd. 111 for $3.45 million from CA 485 COUNTY ROAD LLC. The 1.33-acre property is located at Exit 70 of the Long Island Expressway. Stuart Frankel, president - net leased division of Silber...
GCP Capital Group arranges four loans totaling $38.5 million
November 5, 2019
Garden City, NY GCP Capital Group LLC has arranged mortgage financing totaling $38.5 million for the following four deals: A $17 million for a three-level, 53,300 s/f commercial property in Garden City. Matthew Classi, managing member of GCP, arranged the financing...
Densen and Mayor of Island Associates complete
$5.095 million office building sale in Central Is...
November 5, 2019
Central Islip, NY According to Lawrence Densen and Chris Mayor of Island Associates Real Estate, the $5.095 million sale of a 21,300 s/f office building, Court House Plaza, located at 267 Carlton Ave. has been completed. The building is close to Bethpage Ballpark (home of the LI Ducks)...
Stein of Joshua Stein PLLC, and Fries of Sidley Austin LLP speak at MBA lunch
November 5, 2019
New York, NY Joshua Stein, the sole principal of Joshua Stein PLLC, and Richard Fries, a senior real estate partner at Sidley Austin LLP, address questioners at a lunch program on loan workouts in the commercial
O’Toole launches law firm: The Law Office of Eileen O’Toole
November 5, 2019
strong>New York, NY Eileen O’Toole has opened The Law Office of Eileen O’Toole. O’Toole’s practice focuses on counseling owners, lenders and prospective purchasers of residential properties on rent regulatory and
YM/WREA hosts panel discussion on October 8th
November 5, 2019
New York, NY On Tuesday, October 8th, 2019, the Young Men’s/Women’s Real Estate Association of New York (YM/WREA) hosted Bill Rudin, CEO and chairman, Rudin Management Co. and James Whelan,
Walther elevated to general counsel at Legal 1031
November 5, 2019
Melville, NY Legal 1031 Exchange Services, LLC, a division of Kensington Vanguard National Land Services (KV), has promoted James Walther, Esq., LL.M. to the position of general counsel.
Robert Martin Co. promotes Finley, Frank and Spring; hires Van Ripper
November 5, 2019
Elmsford, NY Robert Martin Co. LLC has promoted Damian Finley, Jeremy Frank and Sandy Spring, and hired Brian Van Ripper.
Weidell to succeed Padilla as CEO of NorthMarq
November 5, 2019
Minneapolis, MN As NorthMarq continues its growth, president Jeffrey Weidell will become CEO on January 1st, 2020, succeeding Eduardo Padilla. Padilla, who served in the role for 20 years, will become executive chair