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2011

LONG ISLAND BUSINESS NEWS


REAL ESTATE AWARDS

RESIDENTIAL AND COMMERCIAL DEALS OF THE YEAR


Commercial loans?

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Call Kevin L. Santacroce, Chief Lending Officer, 537.1000

19 Branches in Suffolk County.


Equal Opportunity Lender www.bridgenb.com Member FDIC
REAL ESTATE AWARDS 3

2011
REAL ESTATE AWARDS
For real estate on Long Island, 2010 was transporting products. Though the housing market lagged,
supposed to mark a turnaround. Instead, Plainview-based E.W. Howell kept busy Ronni Tranes, from Coldwell Banker Resi-
home sales remained sluggish, prices con- in 2010 with about $85 million worth of dential Brokerage in Commack, sold
tinued to sink, and construction starts were projects at Brookhaven National Laboratory. 77 units in 2010 for a total of $34. 7 million.
few and far between. The rebound, it Last year, the Babylon IDA closed 10 And then there’s the unstoppable Richie
seems, is still a work in progress. deals, helping to create or retain 800 jobs. Cohen of Ashlind Properties in Haup-
But amidst all the bad news, there were The companies that received tax breaks in pauge. Despite life-threatening illness,
plenty of silver linings. 2010 also pledged to invest $35 million Cohen brokered more than 1.5 million
Projects like the Brookhaven Rail Termi- into buildings and new equipment. square feet of industrial space last year.
nal, which broke ground last year, will be a Just a short walk from the Long Island Here we honor the best in the biz for
boon to business and could help revive Rail Road station, AvalonBay Communities 2010 and hope for a bigger bounce in 2011.
manufacturing here, providing a cheaper, is building a $90 million, 349-unit rental
faster, more economical and cleaner way of complex in the Village of Rockville Centre.

THE WINNERS 12 TOP MIXED-USE


PROJECT
23 RESIDENTIAL BUILDER
OF THE YEAR
29 REO CHAMPION,
NASSAU (VOLUME BY
Summer Wind Square, Riverhead Beechwood Organization CLOSED GCI & UNITS SOLD)
4 COMMERCIAL Michael Kenduck, Cruse Real
BROKERAGE OF THE YEAR 12 TOP OFFICE SALE 23 RESIDENTIAL REAL Estate
Newmark Knight Frank Garden City Square, Garden City ESTATE OFFICE OF THE
YEAR, SUFFOLK 29 REO CHAMPION,
4 COMMERCIAL REAL 14 TOP INDUSTRIAL SALE Daniel Gale Sotheby’s SUFFOLK (VOLUME BY
ESTATE TEAM OF THE YEAR Raymour & Flanagan, Central Islip International, Cold Spring Harbor CLOSED GCI & UNITS SOLD)
Charles V. Tabone and Daniel T. Todd Yovino, Island Advantage
Gazzola 14 TOP MULTIFAMILY SALE 24 RESIDENTIAL REAL Realty
Fairhaven Apartments ESTATE OFFICE OF THE
YEAR, NASSAU 30 TOP RESIDENTIAL SALE,
6 TOP COMMERCIAL
DEVELOPMENT PROJECT 16 TOP OFFICE LEASE Laffey Fine Homes, Greenvale NASSAU
Brookhaven Rail Terminal Marchon Eyewear Listing agent, Prudential Douglas
25 TOP ASSISTED LIVING Elliman/selling agent, Daniel Gale
DEVELOPMENT Sotheby’s International
6 MOST CREATIVE 16 TOP RETAIL SALE
COMMERCIAL DEAL The Bristal at East Northport
DSW Plaza, Lake Grove
Surgeons’ office giveaway 30 TOP RESIDENTIAL SALE,
25 TOP RESIDENTIAL WESTERN SUFFOLK
17 TOP INDUSTRIAL LEASE DEVELOPMENT
6 TOP GREEN PROJECT Global Tissue Listing agent, Daniel Gale
Avalon Rockville Centre Sotheby’s International/selling
(PUBLIC)
Interdisciplinary Science Building, 17 BEST PUBLIC/PRIVATE agent, Charles Rutenberg Realty
26 RISING STAR
Brookhaven National Laboratory PARTNERSHIP IN NASSAU RESIDENTIAL AGENT OF
Westbury Theater, Westbury THE YEAR, NASSAU 32 TOP RESIDENTIAL
LEASE, SUFFOLK
8 TOP GREEN PROJECT Matthew Korman, Prudential
(PRIVATE) 18 COMMERCIAL BUILDER Saltaire, Fire Island – listing agent,
Douglas Elliman, Franklin Square
Motor Parkway Plaza, Hauppauge OF THE YEAR DeLuca Maisto Properties.
E.W. Howell 27 RESIDENTIAL REAL
8 TOP SMART ESTATE TEAM OF THE YEAR 32 TOP RESIDENTIAL
GROWTH PROJECT 18 TOP RETAIL LEASE LEASE, EAST END
Team Ardolino, Realty Connect
Providence on the Park, Lifetime Fitness Club Southampton – listing agent, N.Y.
USA
Islip Terrace Prime Properties
19 RETAIL BROKER OF THE 27 TOP GREEN PROJECT-
8 TOP GOVERNMENT YEAR RESIDENTIAL 32 TOP RESIDENTIAL LEASE
DEVELOPMENT Roger Delisle, Island Associates NASSAU
Village Park Condominiums,
Dix Hills Ice Rink, Huntington Atlantic Beach – listing agent, A.B.
Babylon
19 INDUSTRIAL BROKER OF Petrey Realty/renting agent, Petrey
THE YEAR East Realty
10 TOP EDUCATION 28 RESIDENTIAL AGENT
Richard Cohen, Ashlind Properties OF THE YEAR
DEVELOPMENT
Ronni Tranes, Coldwell Banker 32 SMALLEST RESIDENTIAL
Simons Center for Geometry and 20 IDA OF THE YEAR IN SALE NASSAU
Physics, Stony Brook University NASSAU Residential Brokerage in Commack
Coldwell Banker Residential
Hempstead IDA Brokerage, Babylon
10 TOP HOSPITALITY 28 RISING STAR
DEVELOPMENT IN NASSAU RESIDENTIAL AGENT OF
20 IDA OF THE YEAR IN THE YEAR, SUFFOLK 32 SMALLEST RESIDENTIAL
Viana Hotel and Spa SUFFOLK SALE SUFFOLK
Michele Cameron, Coldwell Banker
Babylon IDA Century21 Prevete Real Estate,
10 TOP HOSPITALITY Residential Brokerage, Huntington
DEVELOPMENT IN SUFFOLK Wantagh
Hotel Indigo, East End

President / Publisher Special Sections Editor Creative Director Production


John L. Kominicki Ambrose Clancy Michael Albano Kerri Cettel
Nancy Wright
Editor Advertising Director Contributing Writer
Andrea Jones Ken Kroncke David Winzelberg
Advertising / 631-737-1700 www.libn.com
4 REAL ESTATE AWARDS

Newmark Knight Frank


n COMMERCIAL BROKERAGE OF THE YEAR
Bob Giglione

Jack O’Connor

The team from Newmark Knight Frank

Charles v. Tabone & Daniel T. gazzola


n COMMERCIAL REAL ESTATE
TEAM OF THE YEAR

Chuck Tabone and Dan Gazzola Organics, the makers of Nature’s


helped propel Melville-based Newmark Plus vitamins, for $8.4 million.
Knight Frank in a rebound year for In some of their other deals, Tabone
commercial real estate. Though 2010 and Gazzola brokered the sales of a
started slowly, the dynamic duo 37,000-square-foot warehouse in
finished the year with a bunch of deals. Brentwood, a 32,000-square-foot
The largest was the 110,900-square- warehouse in Westbury and a
foot flex building at 525 Broadhollow 20,000-square-foot in Syosset.
Road that the pair sold to Natural
Charles V. Tabone Daniel T. Gazzola

When our clients win, we win!


Congratulations to these award-winning clients:
Richard Cohen, Ashlind Properties
Top Commercial Broker-Industrial
Top Industrial Sale
Top Industrial Lease

Metropolitan Realty Associates LLC


Top Office Sale

WaxWordsIncorporated
105 Maxess Road, Suite S124, Melville, NY 11747
(631) 574-4433 www.waxwordsinc.com
Choosing a real estate attorney isn’t a game.

Our real estate attorneys offer outstanding legal representation in all aspects of
real estate transactions, including land use and zoning matters, municipal incentives/IDA,
tax certiorari, finance, environmental and condominium and cooperative law.
There is no substitute for quality representation.

CLIENT FOCUSED. RESULTS DRIVEN.

The Omni | 333 Earle Ovington Boulevard | Suite 1010 | Uniondale, New York 11553 | 516-248-1700
6 REAL ESTATE AWARDS

Bob Giglione
Brookhaven Rail Terminal
n TOP COMMERCIAL DEVELOPMENT PROJECT
Only 1 percent of Long Island’s freight Toledo-based US Rail and used to transport
currently arrives via rail. According to the New heavy materials like crushed stone used in
York Metropolitan Transportation Council, asphalt production, lumber and other large
freight transportation for the region will jump freight. The project will provide about 60
47 percent over the next 25 years. The construction jobs and about 25 permanent
Brookhaven Rail Terminal will be a boon to jobs and take at least 40,000 trucks off the
business and could help revive manufacturing expressway in its first year of operation.
here, providing a cheaper, faster, more econom- Other partners in the venture include
ical and cleaner way of transporting products. Westbury-based Pratt Industries and Watral &
The rail terminal just south of Exit 66 of the Sons in Bay Shore, Landbridge Intermodal and
Long Island Expressway will be served by D.A. Collins Cos.

Leo Farrell and John O’Hara

Surgeons’ office giveaway


n MOST CREATIVE COMMERCIAL DEAL
Bob Giglione

The doctors at Island Surgical and Vascular Group


left their 5,000-square-foot medical offices in Islip
Terrace for more spacious digs in Bay Shore, but after
more than a year of trying, they couldn’t find anyone
interested in taking their old place. That’s until Jamie
Winkler, left, owner/broker of West Islip-based Jamie
Winkler Real Estate, helped convince them to donate
it to a nonprofit preschool seeking space in Suffolk.
Winkler discovered that donating the medical office
worked better than a sale because the charitable
write-off of $600,000 exceeded the low price asked for
the building. The deal also provided a free space for
the Morgan Center, a nonprofit preschool for children
with cancer.
Attorney Michael Blaymore, bottom left, of Roslyn-
based Salamon, Gruber, Blaymore and Strenger, repre-
sented Island Surgical in the transaction.

Jamie Winkler and Michael Blaymore


Bob Giglione

interdisciplinary Science Building,


Brookhaven National Laboratory
n TOP GREEN PROJECT (PUBLIC)
One of the many projects Plainview-based E.W.
Howell is working on at the Brookhaven National
Laboratory is the $46 million Interdisciplinary Science
Building, an 87,000-square-foot LEED certified Gold
facility, where improvements to the transmission and
storage of renewable energy will be developed.
The new energy-efficient and environmentally
sustainable laboratory building will provide high-accu-
racy laboratories and group existing energy research
scientists into one facility to foster and realize the sci-
entific benefits of multidisciplinary collaboration.
Bob Giglione

Howard Rowland
Commercial Builder
of the Year

Shown: Interdisciplinary Science Building at Brookhaven Lab & Simons Center at Stony Brook University (inset)

E.W. Howell is a well established General Construction and Construction Management firm celebrating
120 years of building excellence in 2011. With offices in Manhattan and headquarters on Long Island, we
provide construction services throughout the region to a diverse group of clients including retail, educa-
tion, government, cultural and healthcare organizations.

E.W. Howell is the proud recipient of the Long Island Business News Real Estate and Development Awards
for the following projects:

Interdisciplinary Science Building at Brookhaven Laboratory


Top Green Project

Simons Center at Stony Brook University


Top Education Development
&
E.W. Howell
Commercial Builder of the Year

245 NEWTOWN ROAD—SUITE 600 • PLAINVIEW, NY 11803 • 516.921.7100


592 FIFTH AVENUE-7 th FLOOR • NEW YORK, NY 10036 • 212.930.1050
WWW.EWHOWELL.COM
8 REAL ESTATE AWARDS

Bob Giglione
Motor parkway plaza, Hauppauge
n TOP GREEN PROJECT (PRIVATE)
Quadrangle Properties, the developer of this new 36,000-square-foot
mixed-use project in Hauppauge, has applied for a LEED Gold rating. A
solar photovoltaic system installed on the building’s roof captures sunlight
from 360 degrees, providing more than 25 percent of the power for the
center’s common areas including the lights in the parking lot.
The shopping center was built with renewable materials, and recycled
materials from the former buildings on the site were incorporated into
construction.
Gary Schacker and David Abel Jack Kulka

Dix Hills ice Rink


n TOP GOVERNMENT DEVELOPMENT
Plainview-based Wenger Construction’s $14 million
Dix Hills Ice Skating Rink project for the Town of
Huntington involved the renovation of the existing
36,560-square-foot facility as well as the addition of a
new 43,240-square-foot indoor ice skating rink. New
locker rooms, bathrooms, concession and food service
facilities are part of the newly completed job.

providence on the park, islip Terrace


n TOP SMART GROWTH PROJECT
One- and two-bedroom rental homes with spacious
layouts, Providence on the Park is a 55-and-over
community next to Connetquot River State Park in
Islip Terrace.

HELPING YOU
REACH FOR
Acquisitions Analysis
THE SKY Financial Reporting
Tax Planning
This is what our Real Estate Group is all about.
Cost Segregation Studies
As one of the largest firms in the country serving real estate
and construction clients, we can be instrumental in helping
you gain better control of your costs and operate more
profitably and productively.
SUPERIOR
THINKING.
UNMATCHED
INTEGRITY.
For more information, contact Holtz Rubenstein Reminick LLP
Jerry Glassman, CPA 125 Baylis Road, Melville, NY 11747
(631) 752-7400 1430 Broadway, New York, NY 10018
JGlassman@hrrllp.com www.hrrllp.com
“Success is a journey, not a destination.”

– BEN SWEETLAND

Congratulations to the Honorees of the


LIBN 2011 Real Estate Awards.
May your journey continue to be a successful one.
Best wishes from all of us at Bethpage. Visit us at lovebethpage.com
10 REAL ESTATE AWARDS

Simons Center for geometry and physics, Stony Brook university


n TOP EDUCATION DEVELOPMENT

The new Simons Center for Geometry and Physics


at Stony Brook University was made possible by a
$60 million donation from James Simons. The
project, designed by Perkins Eastman, creates a
dynamic environment for interaction, academic study
and collaboration among the two schools of thought.
Elements include a 250-person lecture hall/auditori-
um, office space, seminar rooms, a multi-story atrium
and open discussion areas. A pedestrian bridge joins
the new center with the existing math tower and
physics building.

viana Hotel and Spa


n TOP HOSPITALITY DEVELOPMENT (NASSAU)

Redeveloped on the site of the former Westbury


Bowl, the Viana Hotel and Spa is one of the newest
boutique hotels to open on the Island.
The hotel incorporates the five elements of feng
shui – fire, water, wood, metal and earth – with green
building, solar energy, advanced water conservation
fixtures such as dual-flush toilets and LED lighting.
The Viana features an adult game room, complete with
an Xbox, satellite television, a DVD player and board
games. There’s a full-service restaurant fusing
traditional Italian cuisine with an Asian touch using
electronic menus plus six spa treatment rooms with
names such as Harmony, Zen and Unity.

Hotel indigo East End


n TOP HOSPITALITY DEVELOPMENT (SUFFOLK)
Bob Giglione

The Hotel Indigo East End is the Intercontinental


Hotels Group’s first hotel on Long Island and part
of the company’s new boutique brand. The former
100-room Best Western was converted last year into
the suave inn by Garden City-based Jaral East End
Hotel Corp.
Located at 1830 West Main St. in Riverhead, just
steps from the entrance to the Tanger Outlet Center,
Hotel Indigo East End has a fitness center, business
center, two meeting rooms totaling 8,000 square feet
and a restaurant called Bistro 72 that features locally
grown, organic ingredients and regional wines.

Rob Salvatico
12 REAL ESTATE AWARDS

Summer Wind Square, Riverhead


n TOP MIXED-USE PROJECT

Ray Dickhoff, owner of Riverhead-based NF


Management, is building 52 work-force apartments
above an 8,000-square-foot ground-floor retail
space on Peconic Avenue in downtown Riverhead.
The units – studios and one- and two-bedrooms -
will be priced between $900 and $1,400 a month,
bringing much-needed foot traffic to downtown
restaurants and shops when they’re finished in late
2011. A restaurant will be the main retail tenant of
the project, known as Summer Wind Square, which
is replacing three rundown buildings.

garden City Square, garden City


n TOP OFFICE SALE

Jericho-based Metropolitan Realty Associates and


its equity partner Manhattan-based Angelo Gordon
Co. bought a 335,000-square-foot office building in
Garden City for just $15 million, or $45 per square
foot. To help show how much of a discount that was, a
similar 235,000-square-foot office property there sold
for $162 per square foot just two years earlier.
The seller was Yonkers-based AVR Realty and
Guardian Life Insurance, which holds the mortgage.
Built in 1947, the building originally served as a manu-
facturing plant for General Bronze Corp., a maker of
metal window and door fixtures. Grumman later
acquired the 17-acre property, renamed it Plant 36 and
used it to manufacture parts for the Air Force’s EF-111
electronic warfare jets and, later, Grumman flexible
buses. AVR converted the building to its current use
in 1984.
BJ’s Wholesale Club, the Natick, Mass.-based retail-
er, recently leased 121,000 square feet at the building.

AR CHI T EC T UR E | EN G INEER IN G | CO NSULT IN G


www.hdrinc.com

Sustainable Design for


Science + Technology

New York | 212.904.1212


Alexandria | 703.518.8500
AWARDED TOP SENIOR ASSISTED LIVING
DEVELOPMENT 2011 - LIBN

Residents of The Bristal

Grand Opening
T HE B R ISTAL ASSIST E D L IVING

East Northport
HEALTHY. ACTIVE. LIVING.
IVING. Residents are currently moving into the newest addition to
our Assisted Living Communities. Expanding into East Northport helps us address the need Suffolk County

families have to find Senior Living solutions that are the caliber of The Bristal. When you visit The Bristal

– no other community compares. It’s more than luxury living & dining. More than delightful activities. It’s

devoted attention, a compassionate staff and simply outstanding care.

Call for a tour today! (631) 858-0100


or email pdamm@thebristal.com

MODELS NOW OPEN


760 L ARKFIELD ROAD, EAST NORTHPORT, NEW YORK 11731

find us on
blog.thebristal.com thebristal.com facebook

NORTH HILLS 516.869.1300 | LYNBROOK 516 .593.2424 | EAST MEADOW 516.542.0800


WESTBURY 516 .333.9828 | MASSAPEQUA 516 .691.0706 | NORTH WOODMERE 516 .336.2600 Celebrating
TEN YEARS

QUALITY COMMUNITIES BY THE ENGEL BURMAN GROUP


14 REAL ESTATE AWARDS

Fairhaven Apartments
n TOP MULTIFAMILY SALE
Raymour & Flanagan, Central islip
Plainview-based Eagle Rock Management acquired 1,666 Fairhaven
n TOP INDUSTRIAL SALE garden apartments from the Nelkin family last year for about $229.7
million in one of the largest apartment deals ever on Long Island.
Richard Cohen of Hauppauge-based Ashlind The Fairhaven apartment complexes, located in Carle Place,
Properties and colleague Michael Landsman brokered the Hicksville, Mineola, Nesconset and Woodbury, weren’t on the market.
$21 million sale of a 248,000-square-foot building in Eagle Rock, owned by Mark and Adam Seelig, already owns and
Central Islip to furniture retailer Raymour & Flanagan. manages 12 apartment communities in Nassau and Suffolk, including
The seller was Jeffrey Rosmarin, who had leased the those in Seaford, Levittown, Freeport, North Bellmore, Copiague,
property to Raymour & Flanagan with a two-year option Rockville Centre and Huntington Station.
to buy. The building, with 40 loading docks and 40-foot John Thomas of Select Realty Investment Advisors in Smithtown
ceilings, was once a warehouse for Seaman’s Furniture. represented Eagle Rock in its acquisition of the portfolio.

BuschAssociates
Architecture + Engineering + Interiors



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Quadrangle Properties would like to thank


the members of the Green Team that made possible:
Subscribe
52 weeks and
resource guides
Motor Parkway Plaza for just $119

Kulka Construction Management Allied Supply Company Weber Law Group


Jack Kulka David Jenkins Garrett L. Gray, Esq.
Tracie Ackerman Mitch Paley, Esq.
Tom Orr The Cotocon Group
Michael Decherio Jimmy Carchietta Silverman Acampora LLP
Stanley P. Amelkin, Esq.
Quad State Solar D3 Architecture
Jonathan Lane David Dubinsky
Edward Farrell

Thanks for all your advice and assistance

Go to
QUADRANGLE PROPERTIES LLC
David Abel Gary Joel Schacker www.libn.com
AvalonBay Congratulates All the
2011 Real Estate Award Honorees

Avalon Rockville Centre

Avalon currently has six rental communities on Long Island.


For information on these and other communities nationwide, visit:
www.avaloncommunities.com/long-island-apartments
16 REAL ESTATE AWARDS

Marchon Eyewear
n TOP OFFICE LEASE

The Marchon Eyewear lease of 76,000 ple worldwide, with about 500 on Long Island.
square feet at 201 Old Country Road in Ray Finkelstein of United Realty and attor-
Melville was the largest office lease of 2010. ney Peter Curry of Farrell Fritz represented
The company, one of the world’s largest Marchon in the deal.
manufacturers and distributors of eyeglasses Owner Grand Metro Builders, headed by
and sunglasses, will use the space as its global John Cacoulidis, was represented by Daniel
headquarters. Marchon markets its products Dornfeld of Dornfeld & Nasis. Grand Metro
under designer names such as Calvin Klein, acquired the 217,000-square-foot building in
Diane von Furstenberg, Nautica and Michael June through a mortgage auction.
Kors. The company employs about 2,300 peo-
Bob Giglione

DSW plaza, Lake grove


n TOP RETAIL SALE

The 251,222-square-foot DSW Plaza in Lake Grove


was plucked from the portfolio of Centro Properties
Group last year by two Long Islanders, Irving
Pergament and Sam Shalem, for $48 million.
Pergament and Shalem own Manhattan-based Prestige
Properties, best known for developing Bay Plaza on
swampland in the Bronx 25 years ago. Prestige also has
centers in New Jersey and Pennsylvania, but DSW
Plaza will be its first on Long Island.
The deal required an equity stake of 40 percent.
Prestige assumed a $27 million mortgage on the center
with an interest-only 4.75 percent rate.

Ray Finkelstein

Attorneys at Law
QReal E state / Zoning / Land Us e
QLitigation

QSenior Housing, Care & Retirement

Transactions & Project Development


QBusiness Transactions

QTax, Trusts & Estates

6MÄJL3VJH[PVUZ!
Long Island Manhattan
445 Broad Hollow Road 245 Park Avenue, 24th Floor
Melville, NY 11747 New York, NY 10167
Tel: 631-393-6220 Tel: 212-922-9545

^^^OIHSH^JVT
REAL ESTATE AWARDS 17

libn
e-alert
global Tissue
n TOP INDUSTRIAL LEASE

Global Tissue Group’s long-term lease for a and was assisted by Ashley Cohen. The land-
232,135-square-foot building in Yaphank was lord, Melville-based Rechler Equity Partners, OUR TWICE DAILY
2010’s largest industrial lease. was represented in-house by Harry Stavro. NEWS ALERT IS FREE.
The building was formerly occupied by Global Tissue produces private-label toilet
Whitman Packaging, an affiliate of Estee tissue, paper towels and facial tissue for stores
Lauder, which left the property at the end of that market them under their own brands. The
2009. It was built on 29 acres in 1989 by Estee company has its plant and headquarters on an
Lauder and sold to Reckson Associates in 1995. adjacent 23 acres that it purchased in 2008 in
Richard Cohen, president of Hauppauge- another deal arranged by Cohen.
based Ashlind Properties, represented Global

Westbury Theater, Westbury


n BEST PUBLIC/PRIVATE PARTNERSHIP (NASSAU)

Lowe Properties is transforming the 80- the Village of Westbury’s off-street parking
year-old blighted cinema on Post Avenue into requirements.
a sparkling new performing arts center and Since the redevelopment hinged on providing
plaza. The project includes retail shops on the more parking, the village pitched in by granting
ground floor and apartments above. a parking variance and also allowed Lowe to
Lowe bought the theater in 2004 for $1.65 lease 160 parking spots in a nearby village-
million. But renovations on the building had owned lot on Madison Avenue and Belmont
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been stalled because the plans failed to meet Street.
libn.com
G R A S S I R E A L E S T A T E N I C H E P R A C T I C E

Developing real estate tax-saving strategies


n a rapidly evolving marketplace, with
I vacancies up and values down, owners
and developers need efficient accounting
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tax-saving strategies, such as like-kind
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our experts help clients maintain their
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and build for the future.

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Grassi Real Estate Grassi Real Estate
(516) 336-2408 (516) 336-2475
bsunshine@grassicpas.com vpaolucci@grassicpas.com

JERICHO MANHATTAN www.grassicpas.com (516) 256-3500 OTHER OFFICE: NORTH CAROLINA


18 REAL ESTATE AWARDS

E.W. Howell
n COMMERCIAL BUILDER OF THE YEAR
In another slow year for new construction on Howell so far is constructing three of the five
Long Island, Plainview-based E.W. Howell buildings planned around the new light source
kept busy with about $85 million worth of structure, each with its own access to the ring
projects at Brookhaven National Laboratory. that will be able to produce X-rays 10,000
Besides the new buildings at Light Source II times brighter than BNL’s current synchrotron
awarded to Howell last August, the company light source.
has two other new projects under way at BNL. The 119-year-old company worked on
One is the $46 million Interdisciplinary buildings at the lab in the 1970s. Since 2004,
Science Building, an 87,000-square-foot LEED Howell has already completed about
certified Gold facility, and a $15 million expan- $70 million worth of construction there.
sion of the Central Chilled Water facility.

Lifetime Fitness Club


n TOP RETAIL LEASE
The Blumenfeld Development Group cut the studios, a cycle theatre, a mixed martial arts
ribbon in January on a new 112,000-square- room, and more than 400 pieces of cardiovas-
foot Lifetime Fitness health club at 300 cular and resistance training equipment.
Robbins Lane in Syosset, just behind the Long Island’s first Lifetime site was once
developer’s offices. targeted for a Lowe’s Home Improvement
The massive club includes a full spa, Aveda store. It sits just west of the Town of Oyster
salon, indoor and outdoor pools, personal Bay’s new athletic fields and about a block from
trainers and nutrition coaches. The Syosset the 39-acre former Cerro Wire property.
Lifetime club also offers 24-hour access to
dedicated group exercise, Pilates and yoga

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Smart Counsel. Straight Talk.

5 1 6 . 6 6 3 . 6 6 0 0 z U n i o n d a l e z w w w. r m f p c . c o m
REAL ESTATE AWARDS
Bob Giglione

E PERTISE Real Estate is about more than steel and glass.


It’s about a myriad of timely business decisions
essential to maximizing the return on your
properties. That’s why you need an accounting
firm with real expertise. For over 85 years Friedman
Roger Delisle LLP has successfully guided our clients through
the financial complexities of the ever-changing
market, and helped them recognize and take
Roger Delisle, island Associates advantage of every opportunity along the way.
n RETAIL BROKER OF THE YEAR So when your real estate business needs
expertise, build a relationship with Friedman.
A 20-year commercial real estate veteran, Roger FRIEDMAN – THE NAME YOU SHOULD KNOW.®
Delisle is one of Long Island’s most prolific retail bro-
kers, finding choice, high-traffic locations for some of NEW JERSEY | NEW YORK | LONG ISLAND | BEIJING
the biggest chains in the country.
Specializing in leasing up tenants such as CVS,
GNC, 7-Eleven, Lowe’s Home Improvement and more,
Delisle brokered more than 200,000 square feet last
year.
Delisle teamed with Island Associates colleague
Chris Nicholson in brokering the $19 million sale of
the 140,000-square-foot former Suffolk Life building © 2011 Friedman LLP. All rights reserved. An Independent Member Firm of DFK with Offices Worldwide
on 17 acres to Lowe’s last year.
Bob Giglione



&LYLO(QJLQHHUV6XUYH\RUV3ODQQHUV
A tradition of success since 1927

BBV combines rigorous management


with buildable solutions to ensure
Michael Landsman and Richard Cohen that your project stays on course.
Richard Cohen, Ashlind properties
n INDUSTRIAL BROKER
OF THE YEAR
Despite life-threatening illness and a not-much- $&RPPHUFH'ULYH+DXSSDXJH1<
healthier real estate market, Richie Cohen and Ashlind
Properties brokered more than 1.5 million square feet
7HO)D[
of industrial space in 2010.
With a huge assist from his daughter Ashley,
Cohen’s deals include the largest industrial lease of the
year – 232,135-square-foot in Bohemia for Global
Tissue – and the largest industrial sale – a 248,000- Serving New York, New Jersey, Connecticut & North Carolina
square-foot building in Central Islip to furniture
retailer Raymour & Flanigan.
20 REAL ESTATE AWARDS

Hempstead iDA
n IDA OF THE YEAR (NASSAU)
When part of the state’s industrial development agency law
expired three years ago, it shut off the flow of cash for building at
schools, hospitals and other not-for-profits, shelving billions in
shovel-ready IDA construction projects statewide.
But following the lead of the Hempstead IDA, several Long
Island IDAs got around the problem by forming local development
corporations, or LDCs, community-based authorities that can issue
tax-exempt bonds for financing.
Hempstead’s LDC helped finance a bunch of nonprofit projects
in the past couple of years, including $31 million for dorms at
Adelphi University in Garden City and about $50 million for dorms
and a campus center at Molloy College in Rockville Centre.

Babylon iDA
n IDA OF THE YEAR (SUFFOLK)
While most IDAs’ tax breaks start at 50 percent and last 10 years,
the Babylon IDA offers a 60 percent starting reduction in property
taxes that last for a period of 12 or 15 years.
Last year, the Babylon IDA closed 10 deals, helping to create or
retain 800 jobs. The companies that received tax breaks in 2010 also
pledged to invest $35 million into buildings and new equipment.
Some of the companies assisted by Babylon IDA tax breaks
included Viacom Computer Services in Farmingdale with 50
employees, Action Envelope in Lindenhurst with 30 employees and
FragranceNet in Deer Park with 110 employees.
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Seals existing cracks from water and ice
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REAL ESTATE AWARDS 23

Bob Giglione
Daniel gale Sotheby’s
international,
Cold Spring Harbor
n RESIDENTIAL REAL
ESTATE OFFICE OF THE
YEAR (SUFFOLK)
Always a top producing office, Daniel
Gale Sotheby’s International in Cold
Spring Harbor racked up $206.5 million
in sales last year.

Beechwood WeiserMazars LLP:


Organization Providing accounting, tax and advisory services
n RESIDENTIAL from a different perspective
BUILDER OF
THE YEAR
We know that a trusted business advisor should go beyond the numbers. That’s
Last year, Jericho-based
why at WeiserMazars we look at the big picture, examining your needs from every
Beechwood Organization signed a
contract to buy 143 acres in angle to paint an accurate portrait of your business and assist you in meeting your
Plainview owned by Charles Wang objectives.
to build homes.
The property had been slated for We frame our approach in our traditional values of integrity, objectivity and
a controversial mixed-use commu-
independence to ensure that together, with our global resources and specialty
nity called Old Plainview with 660
condominiums and apartments, a areas of expertise, we can provide you with forward-thinking solutions from an
hotel, retail shops and office build- integrated team of professionals.
ings. But Wang gave up four years
ago because of vocal community
opposition to the proposal.
Beechwood’s plans for the site
will be less dense than the one
originally proposed by Wang and
include a good portion of open
space and athletic fields.
While the company seeks a zon-
ing change in Plainview, it is also
building a 288-unit age-restricted
community on 57 acres next to the
Mill Pond Golf Course in Medford.
Bob Giglione

For more information contact:


Andrew Cohen, Partner
 ‡$QGUHZ&RKHQ#:HLVHU0D]DUVFRP

James Kinney, Partner


 ‡-DPHV.LQQH\#:HLVHU0D]DUVFRP

www.weisermazars.com

WeiserMazars LLP:
Turning the science of business into an art

WeiserMazars LLP is an independent member firm of Mazars Group


Michael Dubb
24 REAL ESTATE AWARDS

Bob Giglione

Laffey Fine Homes, greenvale


n RESIDENTIAL REAL ESTATE OFFICE OF THE YEAR (NASSAU)
Laffey Fine Homes in Greenvale had an amazing 2010,
selling 277 units for a total sales volume of $194.1 million.

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REAL ESTATE AWARDS 25

Avalon Rockville Centre


n TOP RESIDENTIAL DEVELOPMENT
Just a short walk to the Long Island Rail Road
station, AvalonBay Communities is building a $90
million, 349-unit rental complex on the site of the
former Darby Drugs in the Village of Rockville Centre.
The transit-oriented development will bring more
residents to shop at local merchants and much-needed
rental housing.

The Bristal at East Northport


n TOP ASSISTED LIVING DEVELOPMENT

The recently completed Bristal at East Northport


is the seventh Long Island assisted living complex
built by Garden City-based Engel Burman Group.
The 128-unit development was more than one-third
sold less than a month after it opened.
Engel Burman is planning to start five more
Bristals later this year, including three more in
Suffolk, two in Westchester and one in New Jersey.

Jan Burman

Local…
Regional…
With more than 100 years of proper ty tax experience, the skilled and trusted
National…
par tners at Herman Katz Cangemi & Clyne will be there for you.
Property taxes are a major expense for most companies. Herman Katz
Cangemi & Clyne has successfully obtained outstanding real estate tax
refunds and savings for its clients, which include local, regional, and
national owners and tenants of properties, including:
Q
Hotels Q
Industrial Q
Golf and Q
Multi-family
country clubs and apartment
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Shopping centers Q
Self-storage complexes
and department facilities Q
Office
stores

hkcclaw.com
Long Island Office: 538 Broadhollow Road, Suite 307, Melville, NY 11747 P: 631.501.5011 F: 631.501.5012
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New York City Office: 630 Third Avenue, 7th Floor, New York, NY 10017 P: 212.953.5000 F: 212.953.5001
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REAL ESTATE AWARDS

PURE... Luxury
Matthew Korman, prudential
Douglas Elliman, Franklin Square
n RISING STAR RESIDENTIAL
AGENT OF THE YEAR (NASSAU)

The assistant branch manager of the Franklin


Square Office, Korman’s energy and drive is demon-
strated by his business originating from referrals of
past clients and other agents in the company. Many of
Korman’s corporate relocation clients work for such
companies as Pfizer, AIG, American Airlines, Travelers
Insurance, Prudential and JetBlue.

Bob Giglione
Pure...BUSINESS
At the Viana Hotel and Spa we offer a luxurious private
boardroom with state of the art audio visual technology.
Viana’s catering space can accommodate groups from
5 to 95 guests. Our experienced banquet staff will cater
to any request or budget, making the Viana Hotel and
Spa the smart choice for your next corporate function. At
the Viana, your business is our pleasure.

For reservations and more information please call

516-338-7777
Or visit our website at
Long Island’s Green-Built Feng Shui Hotel www.vianahotelandspa.com
Matthew Korman
3998 Brush Hollow Road, Westbury, NY 11590
516-338-7777 • 516-333-5013 (Fax) • www.vianahotelandspa.com

The owner of one of ’s most desirable apartments had four equal, sealed

bids after listing it in the spring . The owner decided to sell to the bidder

who could solve the following riddle: There were three light switches in the

hallway that lit three different lamps inside the apartment’s foyer. The door .

was closed and there were no windows in the hallway so there was no way of seeing

inside. The owner allowed each bidder to enter the foyer only once to determine which

switch turned on which lamp . One of the bidders quickly called her .

accountant who gave her the solution and she became the proud owner of the classic

junior six. How’d she do it?


2011 Marks Paneth & Shron LLP

Riddles are easy. You want something harder? Try the real estate market. We won’t venture a guess as to which direction it’s heading.
But we can help our clients answer other big questions like how will recently proposed tax changes affect property values. We’re Marks
Paneth & Shron and for the past 100 years, we’ve been helping real estate owners, builders, developers, investors, property managers
and REITs make smart fi nancial decisions. We’re trusted advisors to some of the top real estate developers, management companies
and prominent real estate families in the New York area. So if you’ve got a riddle, call us at 516.992.5900 or visit markspaneth.com.
We’ll shed some light on it.

VISIT MARKSPANETH.COM/LIGHTSWITCH FOR THE SOLUTION.


REAL ESTATE AWARDS 27

Bob Giglione

Team Ardolino,
Realty Connect uSA
n RESIDENTIAL REAL
ESTATE TEAM OF THE YEAR
Located in Setauket, Michael Ardolino of Realty
Connect USA leads a team of pros who have shaken up
the brokerage scene by racking up big numbers with
everyone pulling the oars in synch. “It’s not about me,
it’s not about the players, it’s about the group working
as a cohesive unit under one banner,” Ardolino said.
How well does the old wisdom of there’s no “I” in
“team” work for Ardolino and his crew of pros? Try on
these numbers: almost $30 million worth of homes in
sales contracts in 2010, or more than 15 percent of the
company’s total of $191.7 million in contracts last year.

Team Ardolino

village park Condominiums, Babylon


n TOP GREEN PROJECT-RESIDENTIAL
Last summer, a new 14-unit development called Village Park
Condominiums opened on Rosebud Lane in the Village of Babylon.
The Victorian-style project built by Mathies Land Development on a
1.4-acre site is a block from the Long Island Rail Road station and
within walking distance of schools, a park, shopping and many of the
village’s 35 restaurants.
28 REAL ESTATE AWARDS

Michele Cameron, Coldwell Banker


Residential Brokerage, Huntington
n RISING STAR RESIDENTIAL AGENT
OF THE YEAR (SUFFOLK)
Cameron went from a stay-at-home-mom to broker
in April 2010 and made a huge splash, brokering more
than $2.5 million in sales on four properties. Her first
sale began while she waited for her license, overhear-
ing a woman at her son’s preschool talking about sell-
ing her home by herself over the Internet.
“I talked her out of that,” Cameron said. She’s already Ronni Tranes
closed deals on seven homes in 2011.

Ronni Tranes, Coldwell


Bob Giglione

Banker Residential
Brokerage in Commack
n RESIDENTIAL AGENT
OF THE YEAR

A close to three-decade veteran of the real estate


industry, Tranes has entered superstar status by being
named Residential Agent of the Year and Top
Producer in Residential Real Estate for both volume
by closed GCI and volume by units sold. The numbers
tell the story, with 77 residential resale units in 2010
sold for an average price of $451,000, and total sales
of $34. 7 million. Tranes is no stranger to the Real
Estate Awards, being named Residential Agent of the
Year for the second consecutive year.
Michele Cameron

“The Babylon IDA made it so


easy to stay on Long Island”
Fast Approvals. Great Incentives.
Relocating or expanding your business? The Babylon IDA
can help with fast approvals and economic incentives that Howard Wolf, CEO and Carolyn Price, CFO
go straight to your bottom line. Here’s what Howard Wolf, Wolf X-ray Corporation.
CEO of Wolf X-ray Corporation had to say:

“We were ready to leave Long Island, but the Babylon IDA made it so easy to stay. The
incentives they gave us made it all worthwhile…a 50%, 10-year tax abatement, a sales tax
exemption on the first year construction and furnishings…help with the utilities…you’d have
to say we’d be crazy to move. ”

Call today for more information on how the Babylon IDA can help your business grow
and expand in the Town of Babylon.

631-587-3679
www.babylonida.org.
Paid for by the Babylon Industrial Development Agency Our Business is Business
REAL ESTATE AWARDS 29

Bob Giglione
Michael Kenduck, Cruse Real Estate
n REO CHAMPION, NASSAU
Kenduck has seven years of experience in default real estate
and is an active member of the NRBA working with clients such
as Fannie Mae, PAS, AHMSI, BOA, SingleSource & USRES.
Kenduck is a closer with smarts, holding degrees in both finance
and marketing, which paid off in 2010 when he sold 243 prop-
erties. He currently manages more than 300 properties as a
broker with a seasoned team of REO professionals.

Michael Kenduck

Todd Yovino, R E A L E S TAT E TA X C O U N S E L


Island Advantage
Realty
n REO
CHAMPION,
SUFFOLK
(VOLUME BY
CLOSED GCI &
UNITS SOLD)
Beechwood's Meadowbrook Pointe Condominiums, featured in photo
Experience counts in real estate.
Just ask the owner of Island
Advantage Realty who has been Schroder & Strom specializes in real estate tax litigation, providing tax
marketing and managing bank and
advice and counsel to developers and owners throughout New York State,
company-owned inventory for
more than 20 years. One of the before, during, and after construction. Our attorneys have achieved
region’s largest brokers exclusively
handling REO inventory, Yovino millions of dollars in tax reductions for commercial properties, ranging
makes it a point to have hands-on
from condominiums and cooperatives to shopping centers, office
involvement in all aspects of asset
management, from first payment buildings, and industrial properties.
default through closing.
Commissions received totaled
close to $2 million on 68 units Extraordinary commitment to our clients, creative negotiation strategies,
sold. and our reputation as trial attorneys has afforded us continued growth
Bob Giglione

and success. We are proud to include some of Long Island's most

successful businesses, including the Beechwood Organization, along with

a number of Fortune 500 and national companies, among our clients.

Preserving wealth and protecting clients against risk with sophisticated

individualized solutions are the hallmarks of our practice.

114 Old Country Road, Suite 218


Mineola, NY 11501
(516) 742-7430

Todd Yovino

LEGAL ADVERTISING
30 REAL ESTATE AWARDS

Listing agent, Daniel gale Sotheby international/


Listing agent, prudential selling agent, Charles Rutenberg Realty
Douglas Elliman/selling agent, n TOP RESIDENTIAL SALE (WESTERN SUFFOLK)
Daniel gale Sotheby
Listed at $4.9 million, a 16-room colonial on
international Watch Way in Lloyd Neck, sold after being on the
n TOP RESIDENTIAL SALE market 81 days for $4.7 million. Built in 1990, this
brick beauty has stunning features such as a stone
(NASSAU) patio and formal dining room, and was perfectly
Patience is certainly a virtue in real estate. A 16- packaged and closed by Daniel Gale Sotheby and
room colonial on Centre Island Road in Centre Island Charles Rutenberg Realty.
was on the market for 456 days with an asking price of
$9.75 million and finally sold for $8.2 million. Take a
bow, Prudential Douglas Elliman and Daniel Gale
Sotheby.

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Quality Homes. Fine Communities.


ZZZ%HHFKZRRG+RPHVFRP
Nassau County Suffolk County

®
®
links & spa

Award-Winning homes, fully appointed with the Semi-attached homes with world-class amenities
finest designer finishes, resort lifestyle included. set the new standard for sophisticated country living.
Homes priced from $460,000 - $1.2 million* Homes priced from $423,000 - $558,000*
MeadowbrookPointe.com • 516.843.7646 MeadowbrookPointeLinks.com • 631.696.0300
Sales Center & Designer Decorated Models Open Daily 10 - 6 Sales Center & Designer Decorated Models Open Daily 10 - 6

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3ULFHVDQGDYDLODELOLW\DUHVXEMHFWWRFKDQJHZLWKRXWQRWLFH 0HDGRZEURRN3RLQWH0HDGRZEURRN3RLQWHLVDFRPPXQLW\KRZHYHUXSWRRIKRPHRZQHUVFDQQRZEHDV\RXQJDV\HDUVROG7KHFRPSOHWHWHUPVDUHLQRIIHULQJSODQVDYDLODEOHIURPWKHVSRQVRU
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Congratulations Roger Delisle, Jr.
Island Associates Real Estate
Commercial Retail Broker of the Year

Thank you for all you help throughout the years!

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32 REAL ESTATE AWARDS

Atlantic Beach – listing agent,


A.B. Petrey Realty/renting agent,
Petrey East Realty
n TOP RESIDENTIAL LEASE
(NASSAU)
This nine-room detached contemporary on Beech
Street in Atlantic Beach was on the market 81 days. It
was listed at $50,000 and rented for that price.
Southampton – listing agent,
N.Y. Prime Properties
n TOP RESIDENTIAL LEASE Coldwell Banker Residential
(EAST END) Brokerage, Babylon
After less than 40 days on the market and listed at n SMALLEST RESIDENTIAL SALE,
$85,000, this 21-room colonial, built seven years ago
on White Street in the heart of Southampton, was
NASSAU
rented for $95,000. Just 28 days on the market, this four-room mobile
home in Amityville sold for $10,000.

Saltaire, Fire Island – listing agent,


DeLuca Maisto Properties.
n TOP RESIDENTIAL LEASE Century21 Prevete Real Estate, Wantagh
(SUFFOLK) n SMALLEST RESIDENTIAL SALE,
SUFFOLK
Snuggled into the dunes, this detached ranch on
Neptune in Saltaire, with four bedrooms and three This mobile home in Riverhead featured a screened
baths, is a dreamy summer home. Listed by DeLuca porch, snow removal service, a picnic area and club-
Maisto Properties at $30,000, that’s exactly what it house to close the $10,000 sale.
rented for.

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Learn about tax liens and why they are a safe investment
regardless of market conditions.
Meet the professionals whose experience
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Congratulations
Congratulations
Congratulations

CB Richard Ellis

2011 TOP OFFICE SALE

Garden City Square


711 Stewart Avenue
Garden City, New York

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34 REAL ESTATE AWARDS

Anchin Helps Real Estate Firms Rise to the Top.


At Anchin, we have a large team of professionals experienced in the complexities of real estate accounting and taxation.
Marc Wieder, CPA
Our professionals excel at creating innovative solutions to intricate issues, utilizing tax laws and incentives to our clients’
marc.wieder@anchin.com
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Robert Gilman, CPA real estate business, let us connect you with Your Expert Partner.
robert.gilman@anchin.com

Howard Krams, CPA Anchin, Block & Anchin LLP 1375 Broadway, New York, NY 10018
howard.krams@anchin.com Accountants and Advisors ‡ZZZDQFKLQFRP
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