News: Long Island

Freedberg of Suffolk Industrial Properties handles $755,000 sale

Mike Freedberg,
Suffolk Industrial Properties

AMITYVILLE, NY Mike Freedberg, president of Suffolk Industrial Properties LLC, arranged the sale for $755,000 of an industrial building.

The property, 1-9 Hicks St., a 6,430 s/f, multi-tenant industrial building, was sold by PSTB LLC to Hicks Street LLC. The building, constructed in 1970, is 50% office and is to be delivered vacant to the buyer, who plans to use the building. Freedberg represented the seller and buyer. 

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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.