Category: Long Island

Ronkonkoma, NY Metro Realty Services, LLC negotiated five sales totaling $9.91 million. Jeremy Hackett of Metro Realty sold 5,000 s/f at 119 Gary Way, Ronkonkoma to 119 Gary Way LLC for $1.375 million. Hackett represented the buyer and Kathleen Bardekoff of KPB Realty Inc. represented the seller, Sportsman Holding LLC.

Melville, NY Last month, before a crowd of more than 160 attendees, Commercial and Industrial Brokers Society of Long Island (CIBS), held its 2023 State of the Industry. The event featured an expert panel who discussed trends and predictions for their specialty asset classes: industrial, office, retail, and multi-family. The conversation

One method by which investment properties are evaluated is known as the Income Approach to valuation. Banks typically use this method when they appraise investment properties. This direct return method of valuation focuses on the cash flow produced. The annual cash flow results from subtracting the owner’s operating expenses from the gross operating income and is referred to as the Net Operating Income

Wantagh, NY Breslin Realty negotiated two leases totalling 5,250 s/f at Willow Wood shopping center. Breslin brokered the signing of a long-term lease with Lacrosse Unlimited at 1151 Wantagh Ave.

Q: Looking on the internet, I see that rental prices have different labels. What are the differences between a net lease, a gross lease, and a full-service lease?A: These are all terms used to describe the manner in which services and expenses are paid in a landlord-tenant relationship.

East Meadow, NY The Nassau County Industrial Development Agency (NCIDA) has preliminarily approved a transaction that aims to bring PGA Tour events to Eisenhower Park. The transaction, awarded to EGB Hospitality, will see the renovation of a building in Eisenhower Park, which will be used as a restaurant and event venue. The project represents a $5.3 million

Long Beach, NY Michael Groothuis, president of Groothuis & Co., arranged $4.5 million in permanent financing on a 23-unit, four-story elevator building at 249 E Park Ave. The loan was closed with a bank at a 5.44% rate, fixed for 10 years.

According to Forchelli Deegan Terrana LLP, Jeffrey Forchelli, the firm’s chairman and co-managing partner, on being selected as one of Long Island Business News’ Long Island Business

Steve Colabufo and Eddie Kirby, PE have joined PWGC. Their additions will strengthen the capabilities of our Environmental Division and Environmental Compliance Division

Bethpage, NY Ron Koenigsberg of American Investment Properties (AIP) listed and sold 218 Broadway, a 4,267 s/f converted residence to office building, for $800,000. The property was completely remodeled in 2006. There is signage in front of the building

Woodbury, NY Kaufman Dolowich law firm has hired Michael Ganz as a partner. Ganz joins the firm’s construction law practice group, bringing more than 20 years’ experience focused almost exclusively in matters of construction law.

Q: Once we have found the building we want to purchase, what is the best way to start negotiations? A: Entire books have been written about the art of negotiating, so I can share only a few of the strategies that have helped me negotiate advantageous transactions for our clients.