News: Long Island

Vanderbilt Realty closes on industrial site sale
of 2045 Wellwood Ave in Farmingdale for $3.2 million

Farmingdale, NY Vanderbilt Realty completed the closing of 2045 Wellwood Ave. The purchase price was $3.2 million, which equates to over $164 per s/f.

Vanderbilt represented the purchaser, Parzack Holdings, LLC on the sale of the property. The property contains 19,400 s/f of industrial and office space. This sale was in cooperation with the Melville office of Newmark Knight Frank LI who represented the seller, Jaric Enterprises, LLC.

Vanderbilt Realty is a boutique commercial brokerage firm representing purchasers specializing in the Tri- Sate area with a concentration in Nassau- Suffolk counties.

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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.