The timeless saying “location, location, location” remains a fundamental principle in real estate valuation today. However, the way location influences the property tax burden for a commercial property is more complex. Commercial property taxes can differ depending on the taxable jurisdiction in which the property is located. Various factors
1031 Tax Deferred Exchanges started over a hundred years ago, in 1921. Generally, when an investment property is sold, one must pay capital gains taxes. With the 1031 Exchange, if another property is bought at that time the capital gains
Melville, NY Robert Raffa of Island Associates Real Estate Inc., who represented the tenant, and Maria Valanzano of Colliers, who represented the landlord negotiated the long-term lease of 4,720 s/f of office space to the Law Offices of Roman Shakh at One Huntington Quadrangle.
Babylon, NY Roger Delisle of Island Associates negotiated a long-term lease extension with CardSmart for their space at Babylon Market Place shopping center. CardSmart has been a tenant for over 20 years at the shopping center and with the long term lease extension
Central Islip, NY Roger Delisle of Island Associates negotiated a new 25-year lease term with C Town Supermarket to continue to occupy 29,000 s/f at Islip Plaza at the northwest corner of Wheeler Rd. and Suffolk Ave.
Babylon, NY Ron Kleinberg of Tri-State Properties brokered the sale of this retail/apartment building on Main St. for $1.664 million. Tri- State Properties was the exclusive selling broker representing both the seller and buyer. The two-story building totaled 10,000 s/f which included a 3,000 s/f
Hauppauge, NY BEB Capital (BEB) said that Premier Care Industries has signed a 56,500 s/f lease at 100 Marcus Blvd. The property will be used as one of Premier Care’s logistics warehouse.
Amityville, NY Greystone provided a $11,749,000 Fannie Mae Delegated Underwriting & Servicing (DUS) loan to refinance a 61-unit multifamily property. The financing was originated by Jesse Yodice, director at Greystone.
Medford, NY Cronheim Mortgage has arranged $3 million in financing for a 69,350 s/f shopping center located in Suffolk County. Allison Villamagna and Andrew Stewart placed the financing with one of its portfolio lender relationships and will act as correspondent and servicing agents. The financing was
Melville, NY The Feil Organization signed two leases totaling 31,320 s/f at 1305 Walt Whitman Rd., a class A office building. The Long Island Board of Realtors signed a 24,585 s/f, 15-year lease across the third floor while existing tenant Medigap Life LLC relocated within the building
