Long Island

LIREG opposes New York State Legislation expanding prevailing wages

Westbury, NY The Long Island Real Estate Group (LIREG), a networking and philanthropic organization composed of almost 400 professionals in the real estate industry and allied trades, is opposed to prevailing wage legislation now under review in the New York State legislature.

Lyons of Washington Trust arranges $13.5 million;
Placed for Commack CHI for 143-room Hampton Inn

Commack, NY Washington Trust's Commercial Real Estate Group provided $13.5 million to Commack CHI, LLC, for the refinancing and property improvements of a 143-room Hampton Inn. Bethany Lyons, vice president of Washington Trust’s Commercial Real Estate Group...

Ponte of Stonegate Real Estate completes $6.065 million sale

East Meadow, NY Anthony Ponte of Stonegate Real Estate has represented the seller, 2087 LLC, in the $6.065 million sale of 2087 Hempstead Tpke. The buyer, Storage Deluxe, was represented by Jordan Baruch of Colliers International.

Levine of Greystone originates $58.848 million loan to refinance 280-bed Southampton skilled nursing facility

Southampton, NY Greystone has provided a $58.848 million HUD-insured loan to refinance a 280-bed, skilled nursing facility (SNF). The loan was originated by Fred Levine, a managing director at Greystone.

Hunt Corp. Question & Answer: Commercial leasing bargain bin

Q: We are looking for space to lease for our company. What is absolutely the best way to get a great deal? A: In an open market, great deals generally result from a transaction with a highly motivated landlord, or a tenant who is anxious to sublease their space. S

Midwood secures $30 million construction loan for Eastgate Plaza;
Financing arranged by Estreich of Estreich & Co.

Garden City, NY Manhattan-based real estate company Midwood Investment & Development has secured a $30 million construction loan for Eastgate Plaza, a new retail development located at 867 East Gate Blvd. in The Roosevelt Field Mall corridor.

Schorr of Realty Insight reps buyer in $2.12 million sale

Brentwood, NY Chris Giacalone of Roberts Equities has purchased 710 Suffolk Ave. for $2.12 million. The 3,362 s/f property on 0.89 acres is leased to Citibank. The buyer was represented by Neil Schorr

Hempstead IDA approves benefits for Beechwood’s $110 million development

Westbury, NY According to Fred Parola, CEO of the town of Hempstead Industrial Development Agency (IDA), the agency has given preliminary approval to a request for benefits from the Beechwood Org.,

EBG celebrates ribbon cutting of 200,000 s/f assisted living facility

Jericho, NY In a ribbon cutting ceremony, The Engel Burman Group (EBG) officially opened The Bristal at Jericho, the 17th community of The Bristal in EBG’s expansive assisted living portfolio.

Arbitration versus litigation in construction contracts: Considerations to take into account - by Andrew Richards

One of the many important choices a developer or contractor faces when it prepares its construction contracts is whether to include an arbitration provision to resolve disputes or litigate any disputes in a court of law.