Governor Hochul vetos legislation that would increase real estate taxes on condominiums and cooperatives - by Michael Schroder

On December 22, 2022, governor Hochul vetoed Senate Bill S5946B, which passed both the Assembly and the Senate by votes of 143-3 and 38-25 respectively.  The bill would have changed the valuation methodology mandated by state law for new condominiums and cooperatives

Northmarq arranges $80.084 million in refinancing for Roosevelt Raceway Center - grocery-anchored center contains 428,483 s/f on 48 acres

Westbury, NY Robert Delitsky, senior vice president/managing director of Northmarq’s New York City office collaborated with Charles Cotsalas, senior vice president/managing director of Northmarq’s Long Island office, to arrange $80.084 million

Commercial Classroom - by Edward Smith, Jr.

New Year’s Resolutions for Commercial Real Estate Agents 1. Meet two building owners or tenants in your town every day. Systematically meet every business owner in your town. Two a day, ten a week, forty prospective clients/customers a month; you will become “The Commercial

Guarino and Flaccomio of ERG Commercial Real Estate provide $2.5 million refinance for mixed-use

West Hempstead, NY ERG Commercial Real Estate through an affiliate, delivered a $2.5 million cash out refinance loan to the owner of a mixed-use property containing 13 apartments and two retail units. The 13,526 s/f, two-story brick property located at 102-110 Hempstead Tpke.

Urban Edge Properties leases 7,299 s/f at Huntington Commons

Huntington, NY Urban Edge Properties has signed a total of 7,299 s/f in new leases at Huntington Commons as the center undergoes a multi-million-dollar redevelopment. CycleBar, GOLFTEC and iStretchPlus are moving into space vacated by Outback Steakhouse

Question of the Month: 2022 a year to remember and recession concerns heading into 2023 - How will federal reserve policies drive the outcome? - by DiGeronimo

As we end 2022 inflation reached its highest levels since the early 1980s. As a result, elevated inflation, supply chain disruptions, and higher interest rates have contributed to the global downturn.

Stein named managing partner at Certilman Balin Adler & Hyman

East Meadow, NY Bernard Hyman has built his career as an established authority on real estate valuation, while simultaneously managing the second largest law firm on Long Island, Certilman Balin Adler & Hyman, LLP.

Brookhaven IDA closes on pact for 59,525 s/f Sunrise Wind facility at 22 Research Way

East Setauket, NY Frederick Braun III, chairman of the town of Brookhaven Industrial Development Agency (IDA) said that the agency has closed on an agreement...

Shrenkel hired as new CEO and executive director for Nassau County Industrial Development Agency

Mineola, NY The Nassau County Industrial Development Agency (NCIDA) has hired Sheldon Shrenkel to serve as the agency’s new CEO and executive director.

Hunt Corporate Services Commercial Real Estate Q&A: Due diligence for the seller - by David Hunt

Q: I have hired a commercial real estate broker to sell our 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?