News: Long Island

Dunne, Bardsley, Langer and Heilpern of
CBRE complete $23.5 million office sale

Woodbury, NY The CBRE team of Jeff Dunne, Steve Bardsley, and Travis Langer, in collaboration with Philip Heilpern of CBRE’s Long Island office, completed the $23.5 million sale of 1000 Woodbury Rd.

CBRE represented the seller, RXR Realty and also procured the purchaser for 1000 Woodbury, TKF Burnside Real Estate.

1000 Woodbury Rd. is a class A office building containing 255,019 s/f of office space that is 61% leased and anchored by Petro and Milber Makris. The building is located in eastern Nassau County, one of Long Island’s submarkets with an average availability rate of only 12.9% over the last four years. 1000 Woodbury is situated next to the amenity rich Jericho Tpke., adjacent to both the Long Island Expwy. and Rte. 135, with proximity to the Northern State Pkwy.

CBRE vice chairman Jeff Dunne said, “1000 Woodbury Rd. is well positioned in a historically strong market to create significant upside for the new ownership.”

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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.