Commack, NY Hunt Corporate Services, Inc. has completed the sale of a 9,500 s/f suburban office building at 354 Veterans Memorial Hwy. for $1.125 million. An investor bought the building, which has a healthy tenant mix of attorneys, accountants, physicians, and non-profits. The three-story building is part of an office park at the entrance to the Northern State Pkwy. that was originally built in the 1980s by developer Herman Udasin.
Middle Island, NY Roger Delisle Jr. of Island Associates brokered a 15-year lease agreement with Gold’s Gym for a portion of the shopping center located at 1245 Middle Country Rd.
When drafting and negotiating contracts with an architect, general contractor, construction manager, or even trade contractors, one important choice a developer or property owner faces is whether to litigate any potential disputes in a court of law, or to include a provision in the contract to compel arbitration instead.
Every new tax law comes with opportunities and pitfalls. The popular press has provided extensive – if sometimes superficial – coverage of the changes: lower tax rates for businesses, the restrictions on itemized deductions for individuals. Some practitioners have been advising clients to make substantial changes to their business structures while others have been advising caution.
Ralph Perna is the executive managing director at Newmark Grubb Knight Frank, Melville, N.Y.
Who can qualify?
The first statutory provisions governing “Disadvantaged Business Enterprises” (DBE) were enacted by the U.S....
The Long Island Rail Road is the oldest United States railroad still operating under its original name and charter. The growth of the railroad helped to shape the future of Long Island and is now the busiest commuter rail system in the United States. Since its inception, the railroad has been an essential part of Long Island’s economy.
Several major trend lines are currently creating increasing demand for medical office buildings in Long Island and across the nation. The population of the United States is aging at the same time that medical practitioners are leaving individual practices to join larger, more efficient medical groups. Meanwhile, medical care is moving from hospitals to local facilities, and medical practices are clustering to benefit from cross pollination. The result is remarkable growth in medical office buildings both in new construction and in repositioned properties. This has attracted significant investment by capital sources who anticipate that the trend will continue.
East Meadow, NY Breslin Realty has signed a long-term lease with the Automobile Club of America (AAA) at 2411 Hempstead Tpke.
AAA will be...
Extend or Renew
A lease may be written for a specific term and have an option for the tenant to extend the lease term for an a...