News & Press

LIBN: Damianos takes top developer award

Smithtown-based Damianos Realty Group was honored as Developer of the Year at the annual awards dinner hosted Wednesday by the Association for a Better Long Island and the Commercial Industrial Brokers Society. Damianos earned the honor for its purchase and renovation of 1377 Motor Parkway in Islandia. The company spent $12 million on extensive renovations to the 170,00-square-foot office building, which the firm acquired in 2015 when it was nearly vacant and is now 96 percent leased. Brokers from Newmark Knight Frank and Cushman & Wakefield shared the Most Ingenious Deal of the Year award for the $12 million sale of a 43,600-square-foot industrial property on 6 acres at 336 […]

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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 […]

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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 […]

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