News: Long Island

Smith of Smith Commercial Real Estate addresses LICN members

The Long Island Commercial Network (LICN) held its general meeting on June 23th at the On Parade Diner. The meeting began with open networking providing everyone with an opportunity to catch up as well as meet and introduce guests and new members. The meeting was opened by Ira Zucker, president. Each committee was provided an opportunity to report on its progress during the month. Notably the by laws committee solidified its recommendations to be sent to LIBOR for comment toward fully incorporating all recommendations into one set of bylaws aligned with the needs of both organizations. The education committee reminded us of upcoming LIBOR commercial classes which are open to both members and non-members. They were again reminded of the NAR requirement that anyone practicing in an area of real estate must be competent in that area, and LIBOR as well as other continuing education classes are an excellent way of acquiring that skill set. The technical committee reported that they are continuing the process of transitioning their commercial listings site from outside to internal hosting as well as continuing development and testing of their new website features. LICN welcomed new affiliate member Danial McCormick of McCormick Law, who specializes in increasing ROI in commercial property. They then got into the education section, hosted by Ed Smith, of Smith Commercial Real Estate, who provided members with an entertaining view of the elements of stress. He pointed out that real estate is in the top 10 of the most stressful professions. He gave members an entertaining yet informative outline of 12 ways to reduce stress. The meeting concluded with the "Haves and Wants" where all attendees have an opportunity to describe what properties they have for sale and what their customers are looking for. Everyone was reminded of LICN's summer event which will take place on July 21st, 5:30-7:30 p.m. at El Toro Restaurant, 225 Woodcliff Rd. Freeport. All members and their guests are welcome. The Long Island Commercial Network meets at the On Parade Diner, 7900 Jericho Tpke. the 4th Tuesday of every month. To find out more, and to confirm our next meeting date, please check the calendar by visiting their websire www.licommercialnetwork.org
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.