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March 2016 Vol. 7 Issue 9
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Dear Friends,
I am very pleased to report that our firm has been selected by CoStar, the leading provider of commercial real estate information, analytics and online marketplaces, to receive the 2015 CoStar Power BrokerTM Award. The coveted CoStar Power Broker Awards are presented to firms and individuals who closed the highest transaction volume in commercial property sales and leases in their markets during the year. With the largest independently researched database of commercial real estate property information available online, CoStar can easily identify the top firms and brokers in each market throughout the United States.
Personally, I received two category CoStar wins as a Top Industrial Leasing broker, and a Top Office Leasing Broker (and I was the only individual CoStar Power BrokerTM in the Brooklyn-Queens-Nassau-Suffolk marketplace to receive two awards).
Clearly, none of this would have been possible without the absolutely incredible team that powers  this office! It is very unusual for any firm to receive three awards in the same year, and we are competing against nearly every national and global commercial brokerage firm, as well as outstanding local companies. I often say that I have never worked with a finer team of people.
Hmmm...I think I owe them a party!
"Oh the possibilities!"
David G. Hunt
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781 Old Country Road
Plainview, NY
2,806 Square Feet
-FOR LEASE-
FREE-STANDING OFFICE BUILDING
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Three Most Important Criteria in Buying Real Estate
By: David G. Hunt
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Q: We want to purchase an industrial building to house our growing import and distribution business. I have heard that the three most important criteria in selecting real estate are "location, location, and location." What other criteria would you suggest?
In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading doors. Search criteria in this category tend to be very subjective, and you as the business owner, are the most qualified to make the decisions and evaluate the trade-offs involved. Of course, location will probably play a role in this category. How many employees will you lose by making a move of over 20 miles from your present location? Will your shipping costs increase as you move from one zone into another? These are the types of questions that must be answered from a business perspective.
The second category of search objectives concerns real estate value. As real estate professionals, we tend to be more concerned about these criteria than our clients. Someday, in some way, your new building is going to be sold, either by you or your successors. We would like to make the process easier and maximize the selling price when that occurs. That is why we are concerned with "location, location, location". All things being equal, we know that a good location will appreciate faster and sell faster. What is a good location? It is a location that will appeal to the greatest majority of buyers. On Long Island, this means a location that is a short distance from the Long Island Expressway. It generally means a location that has tight zoning or restrictive covenants, that provides for plenty of parking and landscaping. It also has the infrastructure (e.g. roads, utilities, high-speed broadband) to accommodate almost any kind of business need.
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The Wilen Group is moving to 25 Smith Street, Hicksville...
Vanguard Coverage is moving to 101 Sunnyside Boulevard,
Plainview...
Esquire Bank is moving to 100 Jericho Quadrangle, Jericho...
Advantage Funding leased at 3 Dakota Drive, Lake Success...
Claflin Medical leased at 625 Locust Street, Garden City...
GeoSync Microwave is moving to 320 Oser Avenue, Hauppauge...
James M. McQuade leased at 45 & 51 St. John's Place, Freeport...
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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.....(MORE)
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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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| Farmingdale | 145 Florida Street | Industrial | 3,600 |
| .18 | $152.78 |
2/19/2016
| Farmingdale
| 242 Route 110 | Retail | 18,500 | 8,500 | 1.10 | $172.97 | 2/16/2016 | | Yaphank |
31 Old Dock Road
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Industrial
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11,871
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1.02
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$134.78
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1/29/2016
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Westbury
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128 Magnolia Avenue
| Industrial | 13,500 |
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.57
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$158.90
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1/11/2016
| | Hauppauge |
320 Oser Avenue
| Industrial | 20,114 | 3,700 | 1.6 | $77.78 | 1/4/2016 | |
Roslyn Heights
| 10 Powerhouse Road | Office | 5,250 |
| .31 | 121.81 |
12/30/2015
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For more Recent Sales, click here |
Your Corporate Real Estate Department provides specialized experience
and expertise in the marketing and acquistion of corporate real estate. Unlike
traditional real estate brokers, we represent our clients exclusively.
Our sphere of concentration is Long Island, though special assignments take us nationwide.
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