News: Long Island

Cohen of Ashlind Props. acts for New York Tent in $6.5 million sale

Richard Cohen

Bohemia, NY Richard Cohen, president of Ashlind Properties, consummated a $6.5 million sale on behalf of New York Tent.

The industrial real estate market is so tight that Ashlind Properties was forced to find two adjacent buildings for its client, New York Tent since one building couldn’t be found. New York Tent purchased 110 Wilbur Pl. six months ago and recently closed on 100 Wilbur Pl., a 40,000 s/f facility for $6.5 million.

This deal cemented their footprint of now occupying  over 70,000 s/f in two facilities with tremendous yard space. Their 57,000 s/f facility will be available to lease in April.

David Perkins of The Law Office of David Perkins, PLLC represented the buyer in both transactions.

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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.