News & Press

LIBN: Developers express optimism for growth in commercial real estate

A trio of active real estate developers expressed optimism last week about the near future of the area’s commercial real estate sector. The developers addressed about 120 brokers and industry professionals as part of a panel discussion organized by the Commercial Industrial Brokers Society of Long Island at RXR Realty’s 58 S. Service Road in Melville. The panel, moderated by Richard Caputi, managing partner of Cresa Long Island, included Joel Bergstein, president of East Rutherford, N.J.-based Lincoln Equities Group; John Finn, director of acquisitions and leasing at Smithtown-based Damianos Realty Group; and Scott Burman, partner in Garden City-based Engel Burman Group. “Our focus is to find well-located property and high […]

Read More

The Real Deal: Long Island Cheat Sheet

Damianos was featured in one of The Real Deal’s latest posts titled: “Long Island Cheat Sheet: Nassau IDA seeks Amazon HQ2 benefits, Hauppauge building sells for $32M, Q4 office leasing activity dips … & more” Hauppauge office building sells for $32M Damianos Realty Group, a Smithtown-based investment firm, bought a six-story office building in Hauppauge for $32 million from Briar Meads Capital. The 210,000-square-foot building at 100 Motor Parkway, designed by Mojo Stumer Associates and The Baldassano Architectural Group, was erected in 2002 by developer Tritec Real Estate. Amenities in the building include several conference facilities, a fitness center, a café, an on-site property manager, security and parking. Damianos will have James […]

Read More

CoStar: Long Island Firm Pays $32M for Hauppauge Office Building

Damianos Realty Group, a local investment ærm that owns more than 1 million square feet of commercial space throughout Long Island, purchased a Class A ofæce building totaling 210,000 square feet in Hauppauge from Briar Meads Capital for $32 million, or about $152 per square foot. The six-story structure at 100 Motor Parkway is leased to major tenants including Peoples United Bank, First Empire Securities, Wells Fargo, Stewart Title, law ærms Farrell Fritz and Certilman Balin and VHB Engineering. Built in 2002, the 4-Star property spans nearly 20 acres less than three miles from the Brentwood train station. Designed by Mojo Stumer Associates and The Baldassano Architectural Group, the building […]

Read More