NAI Long Island Blog

Retail Team Completes $5.5 Million Sale

2010-07-12T13:15:00.003-04:00

NAI Long Island's Principal Albert Centrella, and Associate Director Dennis McCoy, represented Mitsubishi Motors Credit of America, Inc. in the $5.5 million sale of 920-926 Middle Country Road in Saint James, NY. Joseph Bellavia & Sons represented the buyer, North Shore Motors. The former Mitsubishi Motors and Mazda buildings will now be occupied by North Shore Chevorlet cars and trucks.

2009 CoStar Power Broker Awards

2010-05-06T16:02:00.009-04:00

The 2009 CoStar Power Broker Awards have been announced, and NAI Long Island is pleased to have been recognized amongst the top designations. Principal Brian Pinnola and Director Joseph Maffia, who lead NAI's industrial team, were named the Top Industrial Leasing Brokers in 2009. NAI's retail team, which is lead by Principal Albert Centrella and Associate Director Dennis McCoy, were named the Top Retail Leasing Brokers for 2009. In addition, NAI Long Island was named the Top Leasing Firm by the CoStar Power Broker Awards. NAI Long Island looks forward to another prosperous year in 2010.

NAI Long Island Hosts Cocktail Party in Recognition of New Principals Brian A. Pinnola & John A. La Ruffa, SIOR

2010-04-23T10:46:00.007-04:00

NAI Long Island hosted a cocktail party in recognition of Brian A. Pinnola and John A. La Ruffa, SIOR being named Principals at the firm. Both Brian and John were in high spirits the entire night as the event, which was held at North Hills Country Club in Manhasset, NY, had a great turn out where the Principals celebrated with their families, friends and peers.

NAI Long Island was honored to have Jeffrey Finn, CEO of NAI Global in attendance as well as Joseph Belesi, Nassau County Legislator of the 14th District, and Angelo Ferrara, North Hempstead Councilman.

The night was a huge success and NAI Long Island thanks all of those that were in attendance for the celebration.

Pictured from left are NAI Long Island's Principals with NAI Global CEO, Jeffrey Finn: Brian A. Pinnola, Carmine Inserra, NAI Global CEO Jeffrey Finn, Albert Centrella, John Simone, John A. LA Ruffa, SIOR and Frank Socci, Jr., CPM®.

NAI Long Island's Property Managers Sofield & Scoca Sworn in as Accredited Commercial Managers

2010-04-23T10:05:00.013-04:00

NAI Long Island is pleased to announce that two of its Property Managers, Joe Sofield and Nancy Scoca, were recently sworn in to the chapter by chapter President Jeff Klarfeld, CPM®, as IREM's Accredited Commercial Manager (ACoM).

ACoM is a specific certification for commercial property managers. This designation allows the property manager to have increased credibility with owners, investors, and employers. The property managers must complete an intensive training course in order to receive the ACoM designation.

Pictured from left are: NAI Long Island Principal Frank Socci, Jr., CPM®, Nancy Scocs, Jeff Klarfeld, CPM®, and Joe Sofield.

15,000 SF Leased to Retro Fitness

2009-08-11T11:25:00.000-04:00

Brokers Al Centrella and Dennis McCoy leased 15,000 SF of retail space to Retro Fitness in the DSW Shopping Center at 1815 E. Jericho Turnpike, Dix Hills, NY. Retro Fitness is scheduled to open on December 1, 2009.

Expanding Partnership

2009-07-27T12:23:00.004-04:00

NAI Long Island is pleased to announce that Brian A. Pinnola and John A. La Ruffa, SIOR have both been named principals at our firm. They join current principals Carmine Inserra, John Simone, Albert Centrella and Frank Socci, Jr. CPM©.

Sale Completed in Malverne, NY

2009-07-27T12:10:00.004-04:00

NAI Long Island has successfully completed the sale of 269 Hempstead Avenue in Malverne, NY, a 9,800 square foot retail/office building. The entire first floor of the property is leased long term by Bank of America. The purchaser, who was represented by Paul Schneider of Real Estate Strategies, is a local user. NAI Long Island was represented by John Simone, Carmine Inserra and Brett Rosenthal.

Long Island Business News: Who's Who in Commercial Real Estate

2009-06-19T15:29:00.001-04:00

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.