News: Long Island

Densen and Mayor of Island Associates facilitate $1.435 million sale

Smithtown, NY Island Associates Real Estate, Smithtown-based commercial real estate brokers and developers, handled the sale of the Castro Medical Building located at 1056 West Jericho Tpke. and the adjoining lot. The sale price was $1.435 million. 

The property was exclusively marketed by Lawrence Densen and Chris Mayor of Island Associates. New Horizon Counseling Center, a nonprofit comprehensive behavioral health and wellness organization purchased the property from the seller, Dr. Durlan Castro DC, BS, ART. Dr Castro, has set up his new offices at 350 Veterans Hwy. in Commack.

COVID-19 offered obstacles to overcome, originally scheduled to close in early April. “Both parties stayed focused and were able to overcome the hurdles of the pandemic and bring this transaction to closing,” Densen said.

The property was exclusively marketed by Lawrence Densen and Chris Mayor of Island Associates. 

1056 West Jericho Tpke. will be New Horizon Counseling Center’s first Suffolk County Center.

New Horizon Counseling Center serves over 15,000 New Yorkers annually. With an annual budget exceeding $45 million and with 700 employees, New Horizon provides diverse services throughout New York. Our services empower individuals and strengthen communities through the programs that are offered. 

 

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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.