Property ownership is more involved than just having a key and a mortgage to pay. This article will provide an overview of basic terms and rights that define property ownership in the United States. Property law defines Title as a bundle of rights in a piece of property. A deed is a formal document that…
David Winzelberg, real estate writer at LIBN, wrote a blurb on the leases we recently negotiated at Port Jefferson Business Center. Check out the article here: https://libn.com/2021/10/26/inked-recent-li-real-estate-deals-197/
Municipalities categorize property into different types for a number of reasons, the main one is for city planning to delineate the property’s use. Obviously the real estate community tries to use similar language to distinguish one type of property from another when working with the public. Let’s take a look at the various property types…
Long Island, NY (October 18, 2021)- CAMCO Commercial Real Estate LLC, a commercial real estate brokerage, today announced the lease of two spaces at 200 Wilson Street in Port Jefferson Station. CAMCO CRE, who exclusively represents Port Jefferson Business Center located at 200 Wilson Street in Port Jefferson Station, leased a combined 14,900 SF to…
Is my property in a Flood Zone? With the crazy amount of rain we had on Long Island recently it is an important question to ask. Below we’ll talk about the different types of flooding and provide some useful information and links to get you on track to figure out how your property could be…
When a tenant is looking for space, fire sprinklers probably won’t make the top ten list of their space criteria, but if you plan to host many people in your space at once, cook, utilize or store potentially flammable materials, you absolutely should be thinking about this critical building system. Some commercial buildings have fire…
Future Location of the Museum of Food Art 8/13/21 Long Island, NY (8/13/21)- CAMCO Commercial Real Estate LLC, a commercial real estate brokerage, today announced the sale of 1100 Old Country Road in Plainview, NY. The property also known as Lot 20 was previously occupied by Chase bank. Lot 20 Old Country Road LLC sold…
Massive underground lakes called aquifers supply every drop of drinking water in Suffolk and Nassau. Without getting too deep into earth science and Hydrogeology, I can tell you it is important to protect our aquifers and the health department works very hard to do so by limiting the amount of wastewater that goes into cesspools…
What regulations must my business adhere to? Most people think of zoning as a catch all. If the zoning matches my use then I’m good. Zoning is only the first checkpoint, there are a host of other municipal regulations from the town, county and state ranging from zoning, parking requirements, septic flow, public assembly, and…
How does a landlord evaluate whether a tenant they are signing a lease with will be able to fulfill the obligations? How does a tenant pledge that they will fulfill the lease obligations? These are the two topics we will discuss in today’s post. Evaluating Tenant Credit Worthiness is an important, but sometimes overlooked step…
When a client asks if they should have an attorney review the lease before signing it, I ALWAYS say YES. Today’s post isn’t going to be lengthy. My advice on this issue is simple: have an attorney review your lease. Get a commercial real estate attorney, not a general practice attorney, or residential attorney. There…
The type of insurance coverage a business owner should maintain is often dictated by a section in the rider to a lease agreement with the landlord. Below are just a few examples of what to expect and a brief explanation of each. Comprehensive Commercial General Liability Insurance This policy covers the premises protecting both the…
In last week’s post we talked about Lease Commencement Costs. One of those costs is renovation, and since it is often the largest single cost of moving into a new space, let’s take a closer look. Lucky are the business owners who find a space to lease that fits their needs exactly. Rare are the…
To begin talking about lease commencement costs, we have to first understand what lease commencement is. This event marks the date the landlord’s and tenant’s obligations under the lease begin. The lease commencement date is a specifically defined term, and can coincide with lease signing date, rent commencement date, and possession date, but in most…
Did you know that in different parts of the US, they calculate rent per square foot differently then in New York? In New York, and especially on Long Island, rent per square foot (labeled PSF or /SF) is calculated on an annual basis. This is especially helpful so that you can compare two or more…
Everyone knows that rent is the amount a tenant pays to a landlord for the use of a property or space. What you probably don’t know is that landlords and real estate agents have all sorts of other tack-on terms to define what is included in those monthly payments and what isn’t. Knowing what these…
Last week I briefly referenced the concept of free rent so today let’s talk about why it isn’t free. Free Rent is one clause that could impact the term of the lease. While we’re on the subject of lease clauses related to term, let’s also discuss below two other clauses you might see in a…
I teased this topic in my last blog post, The 10 Questions You Should Ask Yourself Before Starting A Search For Rental Space, and promised to explain why when it comes to Lease Term, “longer isn’t always better”. Now it’s time to make good on that so let’s dive into a discussion about Lease Term.…
Most people looking to rent a space for their business start their search with two or three requirements in mind: how much space they need, what location they want to be in, and how much they want to spend. When we as commercial real estate agents engage with a client or customer for the first…
