News: Long Island

Fiorini and Posillico of Alliance Real Estate Corp. broker 24,000 s/f; Stavro of Rechler Equity reps landlord

Authority on Transportation, Inc., a limousine and coach manufacturer and service facility, signed a ten-year lease for 24,000 s/f in the industrial building at 933 Motor Pkwy. They moved from a smaller property in Massapequa to this larger, more modern facility. The one-story building totals 48,000 s/f and was constructed in 1973 in the Hauppauge Industrial market. Alberto Fiorini and Frank Posillico, managing principals of Alliance Real Estate Corp. represented the tenant, and Harry Stavro of Rechler Equity Partners LLC represented the landlord.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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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.