News & Press

The banking crisis presents new opportunities for developers

It might be time to break up with your bank. That is one lesson developers are learning from this recession. But that does not mean deals cannot get done. Think of this crisis as an opportunity to develop a better banking relationship. Megabanks have been hit hard by the real estate meltdown. Some still have frozen assets. Others are reducing entire categories of loans—even the good ones—because they feel over exposed in that particular industry. The megabanks truly are throwing out the baby with the bath water, eliminating profitable loans as they try to recover from the shock of their toxic asset write-offs. At Gold Coast Bank, we still value […]

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“Once In A Century,” Alumna Left Her Mark on SUNY Plattsburgh

Virginia “Jinny” Lee Sturrock Damianos ’50 may have passed away In November 2009, but if she were here today, she would likely tell you that SUNY Plattsburgh had an enormous impact on her life. After all, this is where she studied nursing and where the late Dr. Edward Redcay introduced her to the late Dr. Xenophon “Jim” Damianos ’51. The two were married for 52 years and had six children. “SUNY Plattsburgh has lost a true Cardinal,” said College President John Ettllng. “For nearly 60 years, Jinny was one of our most loyal and dedicated alumni .” After graduating from SUNY Plattsburgh, Damianos served as a registered nurse at Albany […]

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Damianos Eyes New Med Center Near BMH

EAST PATCHOGUE- Hoping to develop one of the last pieces of vacant land in the vicinity of Brookhaven Memorial Hospital, the Damianos Realty Group is moving ahead with plans for an office development valued at $7 million. The Smithtown-based developer is in contract to acquire the five-acre parcel on Hospital Road, subject to Brookhaven Town’s approval to develop the project. Currently, Damianos has plans to develop a 50,000-square-foot speculative medical office facility. Damianos principal Chris Damianos said the project could feature either one large building or two smaller sites. Why medical office? “It’s the only angle to be played there,” he said, noting the firm is hoping to attract local doctors […]

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