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December 2015 Vol. 7 Issue 5
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Dear Friends,
I hope you are enjoying the mild weather this December, as I am. I know our skiing friends are looking high and low (well, maybe not low) for snow anywhere. May there be snow in the mountains and a minimum on Long Island!
A question that I am often asked in our construction business is, "Do I really need a building permit." The answer is "no" for what is considered redecoration. Painting and carpeting come under this category. The answer is also "no" for many minor repairs, such as a door that has to be re-hung or leaking plumbing that has to be repaired. But all new construction and most remodeling really does require a permit, and we go in depth on the topic in this month's article. (If the article doesn't fully answer your questions, give me a call and I will help you sort it out!)
All of us on the Hunt team wish you and your family beautiful holidays, full of love and caring, and a 2016 full of peace and happiness.
"Oh the possibilities!"
David G. Hunt
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Do I Really Need a Building Permit?
by David G. Hunt
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Q: We are anticipating building some additional office space within our industrial building. Do we really need to get a building permit?
A: There are several reasons that you should always obtain a building permit for construction. To be clear, we are not talking about redecoration, so tasks such as painting, carpeting, wall repair, ceiling repair, or replacing a door fall into this category. But permits should always be filed for the actual construction of new offices or the installation of a new bathroom, as an example.
One of the best reasons for filing permits is to avoid creating problems down the road when the property is eventually financed or sold. Your buyer or mortgagee is going to want to make sure that the property and its improvements all have the proper certificates of occupancy and necessary permits before title passes or funds are provided. Over the years, I have seen this scenario many times: A closing must be postponed (or even worse, a deal is lost) because of the time delay that is incurred in filing for permits, possibly re-doing work, having inspections, and receiving the necessary certificates from the proper municipal authority. In addition, any work that has not been done to code may often have to ripped out and rebuilt to code, so now you have paid for your project twice!
Most of us like
to sleep at night!
Another reason to spend the time and money on properly permitting your project is potential liability that you may incur. If your construction was not built to fire code, as an example, and there is a fire that destroys property or injures people, you could face severe legal liability issues, and perhaps even criminal charges. Do you really want to incur this sort of liability to save a little time and money? Most of us like to sleep at night!
In most municipalities, if you are caught building without a permit, the job will be completely shut down. Now, not only have you really delayed your project, but you are in the middle of construction. The only way to resolve it is to start the entire process necessary to obtain permits that should have been done in the first place! And of course... Read more!
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Property Highlight
147 Albany Avenue
Lindenhurst, NY
7,000 Square Foot Industrial Building |
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Companies on the Move
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Aiston Fine Arts is moving to 150 Executive Drive, Edgewood... Dowell Kitchen and Bath is moving to 800 Old Country Road, Westbury... Quaker Sugar Company is moving to 100 Adrews Road, Hicksville... VHF is moving to 80 David's Drive in Hauppauge... Community Mainstreaming Associates is moving to 1025 Old Country Road, Westbury... Vincent J. Russo & Associates is moving to 100 Quentin Roosevelt Boulevard, Garden City... Flos Inc. is moving to 99 Lafayette Avenue, Syosset...
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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) |
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Our Corporate Headquarters
17 Dupont Street, Suite 4
Plainview, NY 11803
516-937-1000
www.huntcorp.com
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COMPARABLE SALES IN THE LAST 12 MONTHS
| City | Address | Property Type | Size SF | Office SF | Acres Total | Sold Price/SF | Sold Date |
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| Garden City | 1581 Franklin Avenue | Office | 15,000 |
| .23 | $166.67 |
12/1/2015
| | Bohemia | 1605 Sycamore Avenue |
Industrial
| 18,000 |
| 1.18 | $60.00 | 12/1/2015 | | Port Washington |
45 Seaview Boulevard
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Industrial
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33,000
| 3,068 |
1.86
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$142.97
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11/23/2015
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Ronkonkoma
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650 Hawkins Avenue
| Office | 15,000 |
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0.89
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$91.67
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11/23/2015
| | Hicksville |
100 Andrews Road
| Industrial | 167,754 | 11,907
| 7.69 | $95.38 | 11/13/2015 | |
Elmont
| 575 Hempstead Turnpike | Retail | 7,092 |
| .23 | $98.70 |
11/12/2015
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For more Recent Sales, click here |
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�Copyright 2015, All Rights Reserved. The content of this web site may not be reproduced without the written permission of HUNT Corporate Services, Inc. All information is from sources deemed reliable and is subject to prior rental or sale, errors, omissions, change of price and withdrawal without notice.
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