News: Long Island

Socci of NAI Long Island named NAI Global Property Management council chair

Frank Socci, Jr., principal and director of property management, NAI Long Island, was named the 2015 Property Management council chair for NAI Global. "Frank brings more than 25 years of experience in all aspects property management that will greatly benefit our members," said Jay Olshonsky, president, NAI Global. "We are delighted that he will serve in this role to advance the organization's efforts." The NAI Global Councils focus on elevating the professional competency of its members and ensuring consistent service delivery across the network. The councils are committed to fostering partnership and cooperation among members by enabling sharing of best practices, including presentations, proposals, documents, collateral, tools and techniques. They work to create value-based programming at meetings and conventions, develop networking forums, and deliver content via web conferences and industry events. As the director of property management for NAI Long Island, Socci manages a portfolio of over 1 million s/f consisting of retail, industrial, and office buildings, plus a portfolio of over 4,000 residential units. Under his supervision, the firm's property management team oversees aspects such as accounting insurance, contracts, maintenance, and capital projects. In addition to property management, his experience includes real estate accounting, financial reporting and systems management. He is a Certified Property Manager (CPM) and licensed real estate broker. He also serves on the executive board of the Institute of Real Estate Management (IREM), greater New York chapter, and Community Associations Institute (CAI) of Long Island, and was the past-president of both organizations.
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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.