News: Long Island

Silber Investment Properties completes $4.344 million sale

North Bellmore, NY According to Silber Investment Properties, a 7-11 located at 1714 Newbridge Rd., has sold. The sale price was $4.344 million.

Adam Silber of Silber represented the seller, Woodpecker Realty LLC while the purchaser, 1714 Newbridge Rd. LLC, was represented by Harmanak Singh of R New York.

The rent was $200,000, and sold for a 4.6% cap rate.

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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.