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.
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.