April  2014 Vol. 5 Issue 9
HAPPY SPRING   
Dear Friends,

What are you doing for breakfast on Tuesday, April 29th?  Once again, our company and Franklin, Gringer, & Cohen, PC are sponsoring a free public conference on commercial real estate issues.  This conference is all about finding either a tenant or a buyer for your commercial real estate.  If you own rent-producing real estate (or want to), this is an information-packed conference, and you will walk away with a lot of specific information to make your ownership more lucrative!  Join us for the buffet breakfast at 8:00 AM.  The seminar starts at 8:30 AM, and we'll have you out of there by 10:30, along with a take-away booklet of our best ideas.

 

To register for the conference, click here.

 

Business is warming up along with the weather!  We're already seeing tightness in some submarkets on Long Island, and we have considerable activity on available properties.  The sale and rental values are definitely rising on completed transactions.  However, it is not too late to take advantage of some good opportunities.  As an example, we are handling a screaming good value for office space in northwest Nassau County - nice building, six minutes from the Long Island Expressway, with a full service rent under $20 a square foot.  Units available from 1,800 to 20,235 square feet. 

 

May your spring be as warm and flowering as the commercial real estate market!

 

"Oh the possibilities!"

 

David G. Hunt

 

Measuring Space                                     by David G. Hunt
Q: Brokers seem to quote space as both useable and rentable square footage. What is the difference between rentable and useable square feet, and how are they both calculated?

A: The space that a tenant can actually use is called "useable", or sometimes "carpetable," square footage. This may be very important to the tenant in laying out his furniture, but it is not the critical component in calculating rent. The rent in most leases incorporates both the useable square footage, plus the tenant's proportionate share of common areas in the building. The sum of these two is known as the rentable square footage. The difference between the rentable and useable square footage in a building is commonly known as the loss or load factor. As an example, if by measurement it is determined that 15% of a building is devoted to common areas, e.g. lobbies, hallways and lavatories, then this will become the loss factor for every lease in the building.

The measurement and calculation of these figures is by no means an exact science, and a number of standards have been established to bring objectivity into the marketplace. The major standards used in the New York metropolitan area and Long Island are: BOMA (Building Owners and Managers Association), REBNY (Real Estate Board of New York) and AIA (American Institute of Architects). Each has slightly different method on how to more...
Spring 2014 Conference
Successfully 
Finding a Buyer or Tenant
          For Your Commercial Real Estate
 
 
Expert speakers are joining together to present information to help you successfully find the right buyer or tenant for your commercial real estate.  David G. Hunt of Hunt Corporate Services, Inc., and Steven Elliot Cohen, Partner at Franklin, Gringer & Cohen will be speaking. 
 

 
 
Tuesday, April 29, 2014
Carlyle at The Palace
1600 Round Swamp Road
Plainview, NY

  

8:00am - 10:30am
Continental Breakfast will be served.

  

For more information - call 516-937-1000

  

  

Hunt Construction Services Inc...

How's your roof?
  
 
 
Winter does a lot of damage to commercial roofs.
 
  
  
 
 
Save your roof.  
Save what is underneath it!
 
  
   
 
 
  We will get your roof in 
"tip-top" shape! 
   
     Give us a call for a no-obligation inspection.  
516-937-1000
 
It never hurts to get another bid. 
   

20,235 Square Feet of 

Office Space 

Available for lease, Will Divide!

99 Seaview Blvd. Port Washington, New York (Office)
99 Seaview Blvd. Port Washington, New York

This 160,000 square foot, three story office/industrial building sits on 8.93 acres, located 2.8 miles to Northern State Parkway and Long Island Expressway.  


View our videos on YouTube

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Companies on the Move
What's New at Hunt

Hunt Exclusively Representing 20,985 Square Feet in Plainview, NY 

 

"Successfully Find a Buyer or Tenant For Your Commercial Real Estate" Conference 

 

Demolition Work at 710 Route 25A in Setauket, NY 

 

Hunt Appointed Exclusive Leasing Agent for 9,500 Square Feet in Plainview, NY

 

Hunt Represents Progressive Insurance in Two Real Estate Transactions 

 

Greiner-Maltz Leases Office Space in Plainview NY

Financing File 
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..... (MORE)

Quick Links
 
17 Dupont St
Our Corporate Headquarters
17 Dupont Street, Suite 4 
Plainview, NY 11803
516-937-1000

 

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COMPARABLE SALES IN THE LAST 12 MONTHS

City Address              Property Type Size SF  Office SFAcres Total  Sold Price/SF   Sold Date  
Bay Shore59 Spence StreetIndustrial104,5919,4805.3$52.59
3/13/2014
Farmingdale500 Smith StreetIndustrial 14,000
0.90$120.00
2/27/2014
Melville
604 Broadhollow Road
Office/Investment 
12,000 

1
$200.00
2/11/2014
Garden City Park
2099 Jericho Turnpike
Industrial
20,500
0.81$82.93
2/7/2014
Plainview155 Terminal DriveIndustrial
13,000
2$142.31
1/28/2014
Plainview101 Sunnyside BoulevardOffice14,000
1.87$231.34
1/27/2014
For more Recent Sales, click here

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