COMMERCIAL REAL ESTATE UPDATE

Adam H. Koblenz, a Member and Partner with the Firm, and Firm Associate Michael J. Barone, Jr. recently represented a client in the purchase and financing of two commercial properties in Mineola, New York, and Riverhead, New York. The two properties, each improved with a multi-tenant strip center, were valued at over $3.5 million and both served as exchange properties in the client’s 1031 exchange.

They also recently represented four clients in the negotiation of commercial leases for two new office spaces, a salon, and a gym in Manhattan. The office tenants, a hedge fund and an animation and design studio, relocated their offices, respectively, from Midtown to Midtown East and from SoHo to Chinatown. The salon lease was a new lease for the tenant’s existing space in Midtown and the gym lease was for a new fitness establishment in Chelsea.

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