News: Long Island

Freedberg of Suffolk Industrial Properties acts for SD Associates in $3.65 million sale

Michael Freedberg,
Suffolk Industrial Properties

 

Kyle Burkhardt,
Cushman & Wakefield

 

Amityville, NY Michael Freedberg of Suffolk Industrial Properties closed the sale of 6000 New Horizons Blvd. for  $3.65 million. The building totals 24,000 s/f with 96 parking spaces, on two acres in the New Horizons Industrial Park.

Freedberg represented the seller, SD Associates Inc., in the transaction.  The seller is an investor who had leased the building to Blackbox Corp.  Blackbox has moved to a smaller location when their lease expired.  

The buyer was Rockwell Industries International Group out of Plainview.  The company is a vendor of industrial metals, led by Thomas Milone, the CEO. Kyle Burkhardt of Cushman & Wakefield represented Rockwell Industries.

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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.