Long Island

GCP Capital Group arranges four loans totaling $38.5 million

Garden City, NY GCP Capital Group LLC has arranged mortgage financing totaling $38.5 million for the following four deals: A $17 million for a three-level, 53,300 s/f commercial property in Garden City. Matthew Classi, managing member of GCP, arranged the financing...

Pembrook Capital Management closes $5.75 million in financing

Westbury, NY Pembrook Capital Management LLC has closed a $5.75 million preferred equity investment to recapitalize 1025 Old Country Rd., a 200,000 s/f office building and colocation/data center facility. The preferred equity investment complements a first mortgage loan...

Stalco Construction and LKMA complete 18,000 s/f MBAC headquarters; Team includes Nelson + Pope and TDM Consulting Engineers

Mastic Beach, NY General contractor Stalco Construction and architect, site engineer, and construction manager L.K. McLean Associates’ (LKMA) have completed the new Mastic Beach Ambulance Co. (MBAC) headquarters. The new facility is located at 343 Main St.

Frankel and Gordan of Silber Investment Properties complete $3.45 million sale of 2,950 s/f property

Manorville, NY VG Manorville LLC has acquired a 2,950 s/f property at 485 County Rd. 111 for $3.45 million from CA 485 COUNTY ROAD LLC. The 1.33-acre property is located at Exit 70 of the Long Island Expressway. Stuart Frankel, president - net leased division of Silber...

Cohen of Ashlind Properties arranges two sales totaling $10.67 million

Ronkonkoma, NY Richard Cohen, president of Ashlind Properties has brokered two sales totaling $10.67 million. In the first sale, Cohen represented the seller, DEA Land LLC, and the buyer, Hi-Lo Equipment & Service, LLC, in the $5.95 million sale of of 845 South First St.

Hunt Corp. Question & Answer: Subleasing blues - by David Hunt

Q: Our company needs to move to larger offices, but we still have nearly two years to go on our existing lease. Subleasing has turned out to be very difficult. What are our options?
A: Your subleasing is probably difficult because of the short term left on your lease.

Rosner of CBC Island Corp. Services brokers $3 million sale; Wong of Kalmon Dolgin reps buyer of the 24,500 s/f property

Deer Park, NY LI Deer Park Realty, LLC has purchased a 24,500 s/f building located at 25 West Jefryn Blvd. Lee Rosner, CCIM, SIOR, managing ...

Zere of Zere Real Estate completes lease deals at Calverton Enterprise

Calverton, NY Marie Zere, president & CEO, Zere Real Estate Services has completed a string of leasing deals in the fall quarter of this year within the Calverton Enterprise Industrial Park. “Calverton has been a hotbed of activity due to the lack of industrial space in the...

Nassau IDA approves incentives for Steel Equities’ Mineola project

Mineola, NY According to Nassau County executive Laura Curran and Nassau County IDA chairman Richard Kessel, the IDA has approved an economic development incentive package to commercial developer Steel Equities, which has purchased a pair of long-vacant industrial buildings.

Property tax exemptions: Are you paying more property taxes than you should be? - by Erin O'Brien

It is no secret that Westchester, Rockland and Nassau Counties have been routinely ranked in the top ten U.S. counties with the highest property taxes, with Suffolk County not far behind. According to the NYS government website, property owners in N.Y. pay 96% more in property taxes than the national median.