News: Long Island

Hackett of Metro Realty Services brokers three deals for $6.55 million

441 Falmouth Avenue - West Babylon, NY

West Babylon, NY Jeremy Hackett of Metro Realty Services, LLC negotiated three sale transactions totaling $6.55 million.

Hackett sold 4,600 s/f at 441 Falmouth Ave. to 441 Mangano Realty Corp for $1.5 million.

Hackett represented the seller, 441 Falmouth Rd LLC, and Netter Realty represented the buyer.

Hackett sold 12,474 s/f at 920 N Wellwood Ave. in Lindenhurst to 920 Pepa Realty LLC, for $2.3 million. Hackett represented the seller, 920 N Wellwood LLC, and Century 21 represented the buyer.

And in West Babylon, Hackett sold a one-acre parcel at 170 Field St. to Beyer Field Street LLC, for $2.75 million. Hackett represented both the seller, Hesh’s Recycling Inc., and the 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.