Long Island Business News

Long Island Business News (LIBN) is a weekly publication focused on business topics, located in Ronkonkoma, New York. Originally established in 1953 under the name Long Island Commercial Review, LIBN reports on various subjects including business, government, legal matters, nonprofit organizations, and healthcare specifically for Nassau and Suffolk counties on Long Island.

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Inked: Office, Retail and Industrial Deals

1 week ago | libn.com | David Winzelberg

7 Village Green, PatchogueBerrios & Associates, an accounting and advisory firm, leased 1,521 square feet of office space at 7 Village Green in Patchogue in the New Village development. The firm is relocating from its office at 3237 Route 112 in Medford. Founded in 1999 by Maureen Berrios, the firm offers accounting, tax preparation, payroll services, sales tax services, tax and financial advisory, incorporations and back-office support.
Growing bakery and café chain to open first LI location

1 week ago | libn.com | David Winzelberg

Tatte Bakery & Café, a growing fast-casual restaurant chain, is coming to Long Island. The Cambridge, Mass.-based company leased a 3,200-square-foot restaurant space at 910 Franklin Ave. in Garden City, where it is expected to open in September. The spot was formerly occupied by CoreLife Eatery, which closed its Garden City and Farmingdale locations last year.
Roslyn Lumber Yard sells for $31M in record deal

1 week ago | libn.com | David Winzelberg

THE BLUEPRINT:Roslyn Lumber Yard sold for $31 million to GB Family HoldingsLargest commercial sale to date in the Village of RoslynMixed-use site includes 25 luxury apartments and 14,000 sq. ft. of retailA prime asset in the Village of Roslyn’s ongoing renaissance has traded hands. The mixed-use property known as the Roslyn Lumber Yard has sold for $31 million, the village’s largest-ever transaction, according to the brokers on the deal.
Crest Group lands $42.5M loan for LI office portfolio

1 week ago | libn.com | David Winzelberg

THE BLUEPRINT:Crest Group refinanced 13 office properties for $42.5 millionPortfolio spans Hauppauge and Islandia, 92% occupiedBBCP arranged deal amid challenging office market conditionsThe Crest Group has secured $42.5 million to refinance its Crossroads office portfolio in Hauppauge and Islandia.
Long Island home sales rise as prices stay high

1 week ago | libn.com | David Winzelberg

THE BLUEPRINT: Median home prices rose to $810K in Nassau, $687.5K in SuffolkInventory rose monthly but remains below 2024 levels30-year mortgage rates hover near 7%, impacting affordabilityLong Island home sales ticked slightly higher last month, as home prices continue to rise amid still low inventory. There were 2,311 homes in Nassau and Suffolk counties contracted for sale last month, just 27 more than the 2,284 homes contracted for sale in May 2024, according to statistics from OneKey MLS.
CIBS-LI launches “Square Feet” real estate podcast

1 week ago | libn.com | David Winzelberg

The Commercial Industrial Brokers Society of Long Island has launched a new real estate podcast. Called “Square Feet,” the podcast aims to explore “the people, trends, and challenges shaping commercial real estate and economic development across Long Island,” according to a CIBS-LI statement.
Howard Hanna Coach Realtors expands into Queens

1 week ago | libn.com | David Winzelberg

Howard Hanna | Coach Realtors (HHCR) is expanding into Queens with a new acquisition. The Northport-based brokerage firm has acquired Marquee Realty, a one-office boutique brokerage founded by Roz Khan in Astoria. Terms of the deal were not disclosed. This is the third acquisition for HHCR in the last 18 months. In Jan. 2024, the firm acquired V.I. Properties in Hewlett, and in August 2024 HHCR acquired Baldwin Realty, both single-office brokerages.
Tritec secures $140M refinancing for Shoregate in Bay Shore

1 week ago | libn.com | David Winzelberg

Tritec Real Estate and its global banking partner have secured $140 million in refinancing for their newly built Shoregate apartment complex in Bay Shore. The borrower was represented by JLL Capital Markets, which arranged the refinancing that was secured by Truist Financial Corporation, which also provided construction financing for the project, according to a JLL statement. The 418-unit Shoregate is a transit-oriented residential development at 143 4th Ave.
Wonder continues Long Island expansion with new Plainview location

1 week ago | libn.com | David Winzelberg

Wonder, the growing food delivery and takeout concept, will be opening a location in Plainview. The chain leased a 3,500-square-foot space in the Woodbury Plaza shopping center at 445 S. Oyster Bay Road. The Plainview Wonder will be the company’s fourth Long Island location, following its first opening in Melville in May, one soon to open in Deer Park and a Bellmore store slated to open this fall, about when the Plainview location is expected to open.
Red-light camera vendor faces processing fee scrutiny

1 week ago | libn.com | David Winzelberg

THE BLUEPRINT:Red-light camera vendor may owe millions in processing overcharges. Verra Mobility charged 12% ‘convenience fee’ per state-allowed red-light camera fine. Nassau lawmaker pushes bill for reimbursement and vendor transparency. While lawsuits seeking refunds for illegal overcharges on Long Island red-light camera tickets wind their way through the courts, red-light program vendors may also be on the hook for millions in processing fees.