Real Estate Group Assists in Multiple Deals in August
September 16, 2019 |Ron Kornblum represented the seller in the sale of 1169-1173 Flatbush Avenue, Brooklyn, NY. The purchase price was $6M and involved an IRS 1031 tax free exchange for members of the selling entity.
Michael Heller and Louis D’Amaro closed on the sale of a 180,000 square foot office building in New Hyde Park. The sale included the assignment of over 20 tenant leases for the building as well as various service and other contracts.
Ron Kornblum and Louis D’Amaro drafted a “springing lease” to provide additional security for a mortgage loan covering a commercial building located in East Islip, NY. The lease is only effective if the current tenant occupying the premises covered by the lease vacates and the borrower/landlord fails to rent the vacated premises within 90 days.
Louis D’Amaro and Ron Kornblum handled an amendment to a lease covering a Brooklyn retail location changing the use and releasing a guarantor from the lease after the tenant failed to secure a liquor license.
- Yaron J. Kornblum
- Michael J. Heller
