Hunt Corp. Commercial Q&A: Save with Section 1031 exchange - by David Hunt

Q: I own the building that houses my construction business. We are considering purchasing a larger building and moving. My broker suggested a 1031 exchange. How does that work and is it worth the effort?

Hempstead IDA gives preliminary OK to benefits for warehouse to be built near JFK

Inwood, NY Frederick Parola, chief executive of the Town of Hempstead Industrial Development Agency (IDA), said that the IDA has given preliminary approval to a package of economic development benefits for a warehouse proposed for a once-polluted site near

Suffolk County IDA approves new affordable housing policy

Hauppauge, NY The Suffolk County Industrial Development Agency (SCIDA) established a first-of-its-kind Affordable Housing Policy. While other affordable housing policies exist throughout the region, the Suffolk IDA’s is the first to have dedicated provisions

ERG Commercial Real Estate closes on vacant lot at 681 West Jericho Tpke.

Huntington, NY ERG Commercial Real Estate negotiated the $1.22 million sale of a vacant lot at 681 West Jericho Tpke. The buyer was Connection Auto Sales which is planning to move the business from its present location (529 E Jericho Tpke.) to this location.

TRITEC completes 17,684 s/f expansion and renovation at North Suffolk Cardiology Medical

East Setauket, NY North Suffolk Cardiology undertook a significant expansion and renovation project at its office located at 45 Research Way. The project included many challenges, and TRITEC Building Company employed many solutions to complete the renovation in an occupied building successfully

Brookhaven IDA closes on East Patchogue apartments

East Patchogue, NY Fred Braun, chairman of the Town of Brookhaven Industrial Development Agency (IDA), said that the IDA has closed on a package of economic development incentives for a proposed workforce apartment rental complex.

Metropolitan Realty Associates secures long-term lease with Lumber Plus

Ronkonkoma, NY Joe Farkas, CEO and founder of Metropolitan Realty Associates LLC (MRA), has completed a 10-year lease for the entire 33,000 s/f building located at 2175 5th Ave. The lease agreement was inked with Unitta Exotique Woods Corp

Forchelli Deegan Terrana LLP partner Daniel Deegan elected to the Long Island Builders Institute’s Board of Directors

Uniondale, NY According to Forchelli Deegan Terrana LLP, Daniel Deegan, a partner and chair of the firm’s IDA Benefits and Government Incentives practice group, was elected to the Long Island Builders Institute’s Board of Directors

Commercial Classroom: Creating Opportunities - by Edward Smith, Jr.

As we start thinking about 2024, we need to set our goals for the year and create plans for how to achieve them. What are your goals for yourself, your family, and your business? It is important to write down your goals, as doing so implants them in your subconscious mind. It helps remind

CIBS Long Island honors outstanding
achievements in real estate

Huntington, NY During the annual meeting, the Commercial Industrial Brokers Society of Long Island (CIBS) shone a spotlight on the industry’s best and brightest in their annual awards ceremony. Among this year’s honorees was Melissa Naeder, a senior director at Cushman & Wakefield