News: Long Island

The Long Island Commercial Network hosts commercial real estate orientation for new members

The Long Island Commercial Network (LICN) hosted a commercial real estate orientation for new members and for those looking for a basic refresher course. Ed Smith of Coldwell Banker Commercial NRT moderated the educational event which had over 40 in attendance. The participants were eager to learn, and included a number of new LICN members. This was fast paced and included much interaction with the guest speakers. Larry Gruttemeyer of Foresite Realty Advisors-LI, LLC, kicked off the session with "Breaking into Commercial Real Estate." He cited the differences with residential real estate and how important creative marketing is to the commercial field. Harvey Kolin of Corporate Commercial Realty, LLC, followed with "Industrial Properties," which included space and cube calculations, as well as truck access. Matt Sheriff, CPA, of Legal 1031 Exchange Services, Inc. gave valuable insight into the world of 1031 exchanges. Rules, regulations, and investment types were covered. Paul Fetscher, CCIM, of Great American Brokerage Inc., gave an animated and informative talk on "Retail Properties." Retail locations, economics, and many examples were covered. Lois Thompson of Coldwell Banker Commercial NRT, gave a presentation entitled "Work Smart." She discussed time management, customer interaction, and a number of cost saving tips. The participants found the commercial orientation to be invaluable in their pursuit into commercial real estate brokerage.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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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.