February 2010 Vol. 1 Issue 6
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Sale-Leasebacks
What would be the advantage of selling our manufacturing plant and leasing it back, as opposed to just refinancing the building?
There are several advantages to selling your property to a third party and simultaneously executing a long term net lease to occupy the building. As
you are probably aware, a sale-leaseback is a mechanism that allows you to
access the equity that has been locked....(MORE)
Reviewing the Lease Document
We are in the process of negotiating a lease for new office space. It seems hopelessly complex. Is there anything we can do to simplify the process?
A lease document requires two types of review. The most common is a legal review, and we are all familiar with that process. The other type of review, that is just as important, is a business review. This is a paragraph by paragraph review of the lease ...(MORE)
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Companies on the Move
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Tadiran Telecommunications, Inc. ... moving to 265 Exectutive Drive, Plainview...Welcome Wagon International...moving to 105 Maxess Road, Melville ... RS Abrams & Co. moving to 3033 Express Drive North, Islandia... CMB Wireless... moving to 40 Daniel Street, Bohemia... International Components Corp..... moving to 215 McCormick Drive, Bohemia ... Craft-Tech Mfg., Inc. ....moving to 1750 Arctic Avenue, Bohemia.... Allied Dynamics Corp... moving to 84 Modular Avenue, Commack...
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Financing File
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Current Market Rates and Programs for the Long Island Commercial Marketplace
The SBA 504 loan program offers long term (10 or 20 years) fixed rate
subordinate mortgage financing for the purchase and renovations of
existing buildings or new buildings and equipment. Loans are up to 40%
of the project cost, maximum of $4,000,000 for manufacturers and
$1,500,000 for all other businesses.... (MORE)
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COMPARABLE SALES IN THE LAST 12 MONTHS
City
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Address Street
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Property Type
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Size SF
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Office SF
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Acres Total |
Sold Price/SF
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Sold Date
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Yaphank
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3 Old Dock Road
| Industrial Office
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12,072
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1.97 |
$126.33 |
1/10/2010 |
| Farmingdale |
40 Daniel Street
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Industrial |
149,330
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36,512
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8.3
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$73.66 |
1/5/2010 |
West Babylon
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120 Otis Street
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Industrial
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13,300 |
1,330
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.75
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$109.40 |
12/31/2009 |
Westbury
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125 State Street
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Industrial
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17,000
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2,000
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.75
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$110.59 |
12/19/2009 |
West Babylon
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60 & 70 Bell Street
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Industrial
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15,500
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1,550
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1
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$83.87 |
12/18/2009 |
Farmingdale
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5 Dubon Court
| Industrial
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31,873
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2,900
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1.5 |
$86.28 |
12/7/2009 |
MORE |
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