News: Long Island

Suffolk Realty Group completes two sales totaling $3.175 million

Suffolk Realty has completed the following transactions: * The closing of the new dealership location for Performance Automotive of Bohemia. The property consisted of an existing showroom and workshop on a 1.4 acre site with 200 ft. of frontage on Sunrise Highway, and another 0.6 acre adjoining property, currently vacant land. The sale price for the package deal is $1.4 million. Patrick Curtis of Suffolk Realty Group, Inc. a Bohemia based commercial broker represented the sellers. * The closing of the new house of worship location for Ministerio Jesus Christo, formerly of Central Islip, to their new home at 433 Edgewood Ave. in Smithtown. The property consists of an existing 38,000 s/f temple, with a full catering facility, Kosher kitchen and ballroom with a complete 30,000 s/f school on the lower level. A 200 stall private parking lot is part of the 4-acre property. Both Beth Shalom Temple and Ministerio Jesus Christo will use the facility going forwards with the seller taking back a lease for the space and continued use of the facility. The sale price for the package deal was $1.775 million. Patrick Curtis of Suffolk Realty Group, Inc., and Kabir Javaid of Lakeland Realty represented the principals.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

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Columns and Thought Leadership
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.