News: Long Island

CLK Properties, Certilman Balin execute 48,293 s/f lease extension

East Meadow, NY CLK Properties, LLC and Certilman Balin Adler & Hyman, LLP signed a 10-year lease extension for 48,293 s/f at 90 Merrick Ave.

90 Merrick Ave. is a nine-story office building with a café, health club and conference rooms. Certilman Balin will continue to occupy the entire 9th floor and half of the 8th floor.

Howard Stein, partner-in-charge of the Real Estate Practice Group at Certilman Balin said, “The firm is excited to remain at 90 Merrick for another 12 years and to continue our extraordinary relationship with CLK.”

CLK has committed to a program of cosmetic and mechanical capital improvements at the property including upgrades to the common areas of the building including the lobby, café, conference room and fitness center, as well as a full elevator modernization so as to maintain its class A status.

Craig Koenigsberg, CEO of CLK, said, “We’re excited to continue our great relationship with Certilman Balin, not only as their landlord but also as a very happy client of their firm. We’re glad they will call 90 Merrick home for many years to come!”

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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.