Category: Long Island

Long Island, NY Brian Stolar, an attorney in land use, zoning, environmental compliance, real estate development, commercial real estate, and municipal law, is joining Harris Beach PLLC as a senior counsel. Stolar represents real estate developers, small businesses, major corporations and property owners in the development of residential, commercial and industrial properties, and serves as general counsel and special counsel to numerous municipalities and zoning and planning boards.

Of all types of property, the values of office buildings may be the most adversely affected by the pandemic. Accordingly, owners of office buildings should carefully monitor their real estate tax assessments to make sure the valuations reflect the new post-COVID economic reality. 

Melville, NYThe Commercial and Industrial Brokers Society of Long Island (CIBS) has created a new industry designation of professional achievement for highly qualified real estate practitioners with a strong transactional history in brokerage fee-based services.

Melville, NY H2M architects + engineers (H2M) now offers virtual reality (VR) services to their clients. These services include VR modeling of designed spaces that enable clients to “walk” through their buildings long before construction begins.

Southampton, NY BEB Capital (“BEB”), a leading investor and developer of industrial, office, and multifamily assets throughout the East Coast, has secured two lease renewals at 325 Meeting House Ln. totaling 13,952 s/f.

Industrial properties traditionally consisted of three major groups: warehouses (used for storage, production, and manufacturing), research and development (R&D) and distribution.  Warehouses may hold goods for a long period of time.

Farmingdale, NY Schuckman Realty brokered the sale of two gas station properties. The property located at 566 Fulton St., sold for $2.3 million. The property consists of an 1,800 s/f building on 8,000 s/f lot, currently operating as a Mobil gas station and convenience store.

The office market is a sector that continues to adapt to a post-pandemic environment. “Work from home” has become commonplace and landlords have been forced to adjust. However, the exact impact on the office market is much more complex than looking at a rent per s/f figure. A true analysis requires a more in depth look at all aspects of a lease and how the different clauses

Over the decades since environmental “Due Diligence” hit the stage in commercial real estate, the phase one Environmental Site Assessment (ESA) has been the standard for which buyers and lenders rely upon. Designed to point out potential environmental risks at a particular property, most times, a phase one was enough to make all parties comfortable.

West Hempstead, NY Breslin Realty negotiated the signing of a long-term lease with Jersey Mike’s Subs. Jersey Mike’s will occupy 1,100 s/f of the Nassau Plaza shopping center, at the southwest corner of Hempstead Tpke. (NY 24) and Nassau Blvd

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