Category: Long Island
Bristol Group nearing completion of 178,134 s/f speculative warehouse within the Long Island Innovat...
June 13, 2023
Commack, NY Bristol Group, Inc. said that the construction of its 178,134 s/f speculative warehouse development located at 49 Mall Dr. is nearing completion. The 10.75-acre property is located within the Long Island Innovation Park at Hauppauge and is less than one mile from Long Island Expwy.
Bayport Funding provides $3.6 million acquisition and construction loan for 6,000 s/f
June 13, 2023
East Hampton, NY Bayport Funding provided a $3.6 million loan for the acquisition and ground-up construction of 8 Barnes Ave. The Northwest Harbor property lot encompasses more than one acre and will allow for the creation of a 6,000 s/f home with pool and pool
Free-falling office values: A catalyst for property tax challenges - by Margo Tiffen
June 13, 2023
Certain segments of the U.S. commercial real estate market are facing significant difficulties in recovering from the pandemic, especially office buildings. The news is awash with reports of large office landlords defaulting on loans. Many highly leveraged owners expect significant
Certilman Balin partners with Habitat for Humanity to build home in Riverhead
June 13, 2023
Riverhead, NY On May 24, Certilman Balin participated in its first-ever Build Day for Habitat for Humanity. Habitat for Humanity of Long Island builds because they believe that everyone, everywhere should have a healthy, affordable place to call
Balaban, Halevi, Johnson, Matchton, Tanenbaum, and Williams accepted into Moritt Hock & Hamroff's su...
June 13, 2023
Garden City, NY Moritt Hock & Hamroff welcome Sidney Balaban, Danielle Halevi, Mary Johnson, Juliette Matchton, Sam Tanenbaum, and Isaiah Williams to its 2023 summer associates & legal interns program. Sidney, Danielle, Mary, Juliette and Sam join
Hempstead Industrial Development Agency reauthorizes incentives package for developer of $212 milli...
June 13, 2023
Hempstead, NY Frederick Parola, CEO of the town of Hempstead Industrial Development Agency (IDA), said that the agency has reauthorized an economic incentives package for a developer planning to construct a transit-oriented apartment/retail complex on a well-known,
STRATCO Property Solutions awarded PSEG Long Island’s “Multi Family Top Performer”
June 13, 2023
Uniondale, NY STRATCO Property Solutions has been awarded PSEG Long Island’s “Multi Family Top Performer” for saving energy on large building projects. The New York City-based contractor works with multifamily building
Island Associates negotiates three leases totaling 6,855 s/f
June 13, 2023
Islip, NY Island Associates negotiated three lease agreements for retail and office space at two properties. Pat’s Carpet has entered a long-term lease for 2,855 s/f of retail/showroom space at 181 Freeman Ave. Pat’s Carpet is relocating its showroom to Freeman Ave. and the landlord is building-out a new showroom and warehouse area for the flooring business.
Commercial classroom: Back to basics - retail properties - by Edward Smith Jr.
June 13, 2023
Stores may be free standing, found in strip centers, shopping centers or malls. Retailers differ in their preference but have a common concern about finding the right location for their business. A strip center is a single building that has been divided typically into five to 10 stores. The structure allows for reconfiguration of the individual store sizes.
Even in a stagnant market one thing increases - property taxes - by Brad and Sean Cronin
June 13, 2023
The value of your property has flattened, and rents are not increasing, yet your real estate taxes continue to escalate. The reason for this is because property taxes on Long Island are not solely tied to a property’s current market value. We’ve seen less activity in the
Hunt Corp. Commercial Real Estate Q&A: Usable and rentable square feet - by David Hunt
June 13, 2023
Q: Brokers seem to quote space as both useable and rentable square footage. What is the difference between rentable and useable square feet (s/f), and how are they both calculated? A: The space that a tenant can actually use is called “useable,” or sometimes “carpet-able,” square footage.
Manhattan Skyline Management and Isaacs and Co. broker lease for Diptyque
June 13, 2023
East Hampton, NY According to Manhattan Skyline Management Corp., French perfume house Diptyque is opening a boutique in the village at 11 Newtown Ln. this summer. Started by Christiane Montadre-Gautrot, Yves Coueslant and Desmond Knox-Leet
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