Expediting the process - artificial intelligence’s future impact on Long Island commercial real estate - by Erik Snipas

Artificial Intelligence (“AI”) is poised to revolutionize the commercial real estate market. As AI becomes more advanced, the commercial real estate market on Long Island will see dramatic changes in the way real estate investors purchase, sell, evaluate, and develop properties. From enhancing

Commercial classroom: Back to basics - negotiating personal guarantees - by Edward Smith

Periodically, like after the recession of 2008 when property values crashed, it becomes common for landlords to require personal guarantees from their tenants. As the economy recovered toward the end of that decade values had been increasing again and landlords stopped requiring personal guarantees.

Bristol Group nearing completion of 178,134 s/f speculative warehouse within the Long Island Innovation Park at Hauppauge

Commack, NY Bristol Group, Inc. said that the construction of its 178,134 s/f speculative warehouse development located at 49 Mall Dr. is nearing completion. The 10.75-acre property is located within the Long Island Innovation Park at Hauppauge and is less than one mile from Long Island Expwy.

Bayport Funding provides $3.6 million acquisition and construction loan for 6,000 s/f

East Hampton, NY Bayport Funding provided a $3.6 million loan for the acquisition and ground-up construction of 8 Barnes Ave. The Northwest Harbor property lot encompasses more than one acre and will allow for the creation of a 6,000 s/f home with pool and pool

Free-falling office values: A catalyst for property tax challenges - by Margo Tiffen

Certain segments of the U.S. commercial real estate market are facing significant difficulties in recovering from the pandemic, especially office buildings. The news is awash with reports of large office landlords defaulting on loans. Many highly leveraged owners expect significant

Certilman Balin partners with Habitat for Humanity to build home in Riverhead

Riverhead, NY On May 24, Certilman Balin participated in its first-ever Build Day for Habitat for Humanity. Habitat for Humanity of Long Island builds because they believe that everyone, everywhere should have a healthy, affordable place to call

Balaban, Halevi, Johnson, Matchton, Tanenbaum, and Williams accepted into Moritt Hock & Hamroff's summer associates & legal interns program

Garden City, NY Moritt Hock & Hamroff welcome Sidney Balaban, Danielle Halevi, Mary Johnson, Juliette Matchton, Sam Tanenbaum, and Isaiah Williams to its 2023 summer associates & legal interns program. Sidney, Danielle, Mary, Juliette and Sam join

Hempstead Industrial Development Agency reauthorizes incentives package for developer of $212 million 111 Hempstead Tpke. apartment building

Hempstead, NY Frederick Parola, CEO of the town of Hempstead Industrial Development Agency (IDA), said that the agency has reauthorized an economic incentives package for a developer planning to construct a transit-oriented apartment/retail complex on a well-known,

STRATCO Property Solutions awarded PSEG Long Island’s “Multi Family Top Performer”

Uniondale, NY STRATCO Property Solutions has been awarded PSEG Long Island’s “Multi Family Top Performer” for saving energy on large building projects. The New York City-based contractor works with multifamily building

Island Associates negotiates three leases totaling 6,855 s/f

Islip, NY Island Associates negotiated three lease agreements for retail and office space at two properties. Pat’s Carpet has entered a long-term lease for 2,855 s/f of retail/showroom space at 181 Freeman Ave. Pat’s Carpet is relocating its showroom to Freeman Ave. and the landlord is building-out a new showroom and warehouse area for the flooring business.