Ronkonkoma, NY Michael Zere, executive VP of Zere Real Estate Services was the exclusive broker for the seller, 1031 Properties 117 LLC, for the $650,000 sale of a 5,000 s/f industrial condo unit on 0.11 of an acre. Built in 1981, the property is located at 700-9 Union Pwy., off of the Veterans Hwy. McArthur Airport Business Corridor.
Syosset, NY Milvado Property Group finished up 2018 by signing 30 lease deals during the last two quarters totaling 474,578 s/f. “Leasing velocity since mid-July has exceeded our expectations,” said David Hercman, regional director of Milvado, who explained that the increased demand for industrial space is partially due to e-commerce.
Q: I have hired a commercial real estate broker to sell my industrial building. The building has two tenants. He is asking for all sorts of information that I feel is part of the due diligence that the eventual buyer, not me, should be doing. Why go hunting for problems?
A: It is my experience that problems or issues that need to be resolved late in the due diligence process almost always delay a closing, and sometimes completely sabotage a deal. And they usually result in a financial concession on the part of the seller.
Syracuse, NY Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Co. (C&W/Pyramid), Binghamton, have completed the sale of Hill Medical Center. The sale price was $18.9 million.
Clarence, NY Uniland Development Co. and Mountain Development Corp. (MDC) have selected Gensler, a real estate planning and design firm, to provide master planning services for the redevelopment of the Eastern Hills Mall property on Transit Rd.
Niagara Falls, NY According to TM Montante Development, construction has started on its $5 million mixed-use development project – 616 Niagara – at the corner of 7th and Niagara Sts.
White Plains, NY The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, presented a check for $3,000 to Drug Crisis in Our Backyard, based in Carmel but serving the Hudson Valley.
Manhattan, NY Cooper Horowitz celebrated their 54th Annual Holiday Party at STK Midtown located in the Grace Building. Over 1,000 borrowers and lenders in the real estate industry located throughout the U.S. attended the event.
New York, NY Avison Young’s local office hosted a special panel discussion on the “Amazon Effect” at the firm’s State of the Market Breakfast held on Thursday, January 17th.
New York, NY Lloyd Goldman, president BLDG Management, was the honoree at the 50th annual Winter’s Evening Gala, which raised $2 million to benefit National Jewish Health, a leading respiratory hospital in the nation.
Brooklyn, NY According to Tri State Commercial, Orangetheory Fitness has signed a 15-year lease for 3,100 s/f at 284 Prospect Park West in the Park Slope neighborhood.
Attention rental brokers – there is a new Safe Harbor available for your clients to claim qualified business income that is entitled to a 20% income tax deduction set forth at 26 USC §199A and your clients are going to need your help to qualify.
Manhattan, NY George Smith Partners has established a bicoastal presence with the opening of an office in Midtown. Industry veteran Ed Steffelin has joined the firm as senior vice president on the Malcolm Davies team, and will oversee the new office, which is located at 750 Lexington Ave.
New York, NY Sabre Real Estate Group is launching a new service platform for the franchising industry through a strategic partnership with Steven Gardner and QSR Franchise Development Group.
Queens, NY Broker/owner William Levin celebrated the opening of RE/MAX City Square, located at 68-60 Austin St., Suite 303 in the Forest Hills neighborhood.
White Plains, NY The Hudson Gateway Association of Realtors (HGAR) welcomes Ron Garafalo, sales manager with John Lease Realtors in Middletown, as its 2019 president. Renee Zurlo, regional manager with BHG Rand Realty in Central Valley, was re-elected as the 2019 president of the Hudson Gateway Multiple Listing Service.