News: Long Island

Walsh of ERG originates $700,000 first mortgage

ERG Property Advisors has funded a first mortgage on a property located at 2416 Chestnut Ave., south of the Long Island Expressway. The building is being used as an industrial steel production plant and is currently owner occupied. The funds will be used to refinance old debt. The lot size is 40,000 s/f the building is 16,250 s/f. The total mortgage amount was $700,000. Andrew Walsh at ERG was the exclusive originator.
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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.