News: Long Island

Racanelli Construction Company completes $5.6 million renovation

Racanelli Construction Company, Inc., a leading construction management, general contractor and design/build resource for commercial, industrial, retail, medical, pre-engineered and multifamily housing projects, recently completed an extensive renovation project on behalf of Atria Glen Cove Senior Living Community. The company, which served as the construction manager on the project, was awarded the contract by the Olsl Glen Cove, LLC. For Atria Glen Cove, Racanelli renovated 80 apartments in the five-floor, 80-unit, 65,000 s/f complex. The project entailed the installation of a new drainage system around the building's exterior and under the first floor slab, and waterproofing of the entire foundation wall and first floor slab. It required the demolition and complete rebuilding of the building's entire first floor's existing walls, and the installation of new walls and finishes throughout the first floor. Steel framing with exterior S/R cultured stone were used to update the building. According to project executive Michael Racanelli, the Atria Glen Cove project was unique because of a prior issue the building had with water infiltration which has been remediated through the renovation. In conducting the renovation and in particular, the waterproofing phase of the project, considerable inclement weather presented an obstacle. In addition to Racanelli, other members of the project team included: project manager Steve Peragallo, project supervisor Ray Riha and project administrator Christine Shultz. The project, valued at $5.6 million began in October of 2010.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

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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.