News: Long Island

Curtis of One Realty arranges $565,000 sale

Patrick Curtis,
One Realty Services

Bay Shore, NY Patrick Curtis, the corporate broker for Long Island-based One Realty Services, Inc, has brokered the $565,000 sale of the 2,400 s/f, 100% tenant-occupied retail building at 29-31 Bay Shore Rd. The building is currently occupied by a dry cleaner and a take-out chicken restaurant establishment. Corinne Gemelli, a real estate salesperson from Realty Direct Brokerage represented the buyer, Long Island Plaza, LLC. Curtis represented the seller, ASM Properties NY LLC.

Due to the high demand for properties in this area there was competition for the listing and the deal closed in an all-cash transaction at a sales price of $565,000, which was $15,000 over the original list price.

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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.