Carmine Inserra, a Principal at NAI Long Island in Melville, NY, has been servicing the industrial and office needs of clients since 1978. He has represented tenants and landlords in sales and lease transactions. His expertise in the market combined with his integrity has developed relationships with many clients including Scandinavian Airline Systems, Sweet-n-Low Confectionery, Avent, G-tech Corp., Griffon Corp, Allied Waste Services, Inc., Wright Risk Management and Stantec.
As a result of the economic conditions and the lack of credit, there is no question that commercial property values are down, Inserra said.
"However, there currently is a gap between buyer and seller expectations but there are signs of that gap closing," he said. "For buyers, the best advice is to be patient and submit offers with as few contingencies as possible to speed up the closing date. For sellers, establish a realistic price based on today's economic conditions, not what the property was woth last year or what you paid for it."
If the buyer needs a finance contingency, sellers should investigate where the desired financing is achievable before going into contract, he added.
"I feel the market will stabilize in the later part of 2009 and slowly recover in the next few years," Inserra said.
Prior to joining NAI, Inserra formed Bagnato Realty with Pasquale Bagnato. The company served the commercial and industrial needs of clients in Nassau and Suffolk counties and NY metropolitan area. As its managing partner, Inserra closed more than 500 deals including several monumental sales and lease transactions.
Inserra earned a bachelor's degree in environmental design from the University of Oklahoma.
He was also the recipient of Reckson Associates' 2003 Broker of the Year award.
Inserra is the current leadership board member of NAI Global and chair of Education and Assistance Corporation. He is a past president of the Commercial Industrial Brokers Society and past board member of the American Red Cross.
