Alliance Real Estate Corp.
New Hyde Park, NY Alliance Real Estate Corp. has brokered two sales totaling $6.125 million. The deals included the following:
• The $2.125 million sale of 1645 Jericho Tpke., New Hyde Park a 12,500 s/f fully leased industrial building. Alberto Fiorini and Frank Posillico of Alliance Real Estate represented the seller Video Projects, LLC and the buyer, AKM Jericho LLC. The deal was a 1031 exchange from property sold in the boroughs.
• The $4 million sale of 59 Mall Dr., Commack, a 30,000 s/f industrial building. Dean Greiner of Greiner-Maltz represented the seller, Russel Realty LLC. Fiorini and Posillico represented the buyer, Boticelli Foods, Inc. The buyer moved from 15,000 s/f facility located in Hauppauge.
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.