News: Long Island

The Moinian Group completes 3 leases totaling 16,500 s/f at 175 Fulton Ave.

The Moinian Group, owner of 175 Fulton Ave., has completed 16,500 s/f in new leases in the property for North Shore Hospital/RegionCare, Winthrop Hospital, and Preferred Pharmacy. Carmel Kashani, an investment partner, made the announcement. "We are pleased to welcome North Shore Hospital, Winthrop Hospital, and Preferred Pharmacy to this property," said Kashani. "Following a multi-million dollar capital improvement, 175 Fulton Ave. has become home to some of Nassau County's leading medical, law and non-profit firms and a host of top-tier retailers." RegionCare, an entity of North Shore Hospital that services patients at home, signed a 7,500 s/f space on the 2nd floor. The lease was arranged by the in-house leasing team. Winthrop Hospital, a renowned medical institution, leased a 5,000 s/f space on the ground-floor. Cushman & Wakefield's David Levitan negotiated on the tenant's behalf. Sutton & Edwards' Brian Boker arranged a 4,000 s/f ground-floor lease for Preferred Pharmacy. 175 Fulton Avenue is a 200,000 s/f, 7-story property with close access to the Southern State and Meadowbrook Parkways. Offering a new light filled lobby, upgraded elevator cabs, upgraded corridors and abundant parking, 175 Fulton Ave. has reached over 95% occupancy. Current tenants at 175 Fulton Ave. include Education Assistance Corporation, Federation of Education Guidance Service, Long Island Beauty School, Verizon Cellular and other top firms.
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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.