North Hills, NY According to Pizzarotti, LLC, The Ritz-Carlton Residences in Long Island has recently obtained a Temporary Certificate of Occupancy (TCO) for buildings five and six of phase two of the project. The two buildings, located at 3000 Royal Court, accommodate 52 residences in addition to a clubhouse with a library and bar, a fitness center with equipment and a grand main entrance. The TCO was obtained on November 20th, 2018, 16 days before the original completion date which was expected to be December 5th, 2018.
Jericho, NY Canstruction Long Island held its 12th Annual Design/Build competition where 10 teams comprised of professionals from the architecture, engineering and construction industry, as well as local students, competed to make sculptures out of canned food to help feed the region’s hungry. The buildout took place on Wednesday, October 24, and the awards reception was held on Thursday, October 25.
Bohemia, NY With 2019 shaping up to be an unprecedented year for environmental projects on Long Island, environmental engineering firm P.W. Grosser Consulting is gearing up with new management, an expansion, and a major rebrand. 2018 has been a whirlwind year for the environmental engineering firm. After carrying out a strategic management transition that gave the firm’s more than 70 employees an ownership interest in the company and restructured its upper management, PWGC doubled the size of its Bohemia headquarters.
Sears is closing 140 stores before the end of 2018. They may also have to liquidate all of their roughly 700 existing stores if it can’t pull together enough financing to stay alive. Simon Property Group, the largest mall owner in North America (175 malls and outlet centers), Washington Property Group (owner of 106 malls), Kimco Realty (owner of 510 shopping centers) and other major mall owners all agree the demise of Sears is an opportunity.
Syosset, NY According to the Commercial Industrial Brokers Society of Long Island (CIBS), a new executive board has been elected. Serving two-year terms beginning January 1st, they are the following:
• President: David Leviton. He is a managing director in the Melville office of JLL and previously was VP of CIBS. He has 30 years of experience in office leasing and sales and has been involved in 600 transactions, representing both landlords and tenants.
Uniondale, NY Forchelli Deegan Terrana partner Daniel Deegan has been appointed by the Long Island Association (LIA) as the chair of the young professionals committee. The young professionals committee is comprised of a group of employees ages 22-35 who are designated by members of the LIA board of directors. The LIA is thus helping train the next generation of business leaders and integrating their input in confronting the challenges facing young people on Long Island while giving them an opportunity to learn, network and collaborate with each other.
In cities across America, where we are seeing more and more vacant storefronts, brands are reconsidering what the purpose of a physical store should be. These vacancies should be looked at as an opportunity for new brands as pop-up stores have the ability to offer temporary experiential retail space. The hope is that pop-up rejuvenates a “stale” retail market.
East Meadow, NY Two of Certilman Balin Adler & Hyman, LLP’s attorneys, Heather Gauweiler and Michelle Stieglitz, have been elevated to partners at the firm. Gauweiler, a partner in the banking/commercial lending group, was previously an associate. Her practice concentrates on the representation of institutional and private lenders in all aspects of complex commercial real estate transactions and asset-based lending.
Westbury, NY Tommy Tsiolis, principal of Diversified Realty LI, Inc., has brokered a $4.6 million sale and three leases totaling 26,200 s/f. In the first deal, Tsiolis sold 51 Frost St.,Westbury for $4.6 million. The subject is a 21,000 s/f industrial property. The seller was Spiegel Assoc. and the buyer was 51 Frost St Assoc. Tsiolis worked with Spiegel’s in-house agent, Paul Giossi.
Commack, NY According to Hunt Corporate Services, Inc., broker Andy Dorman arranged the $1.15 million sale of a 9,500 s/f suburban office building located at 350 Veterans Hwy. to Maisey Property Management, an entity controlled by Sean Fredrickson, founder, and CEO of Universal Plumbing in Bay Shore. Dorman was the sole broker for this transaction.
