Commercial real estate brokerage Colliers International Long Island took home the honor of arranging the "most ingenious deal of the year" at the annual awards dinner of the Association for a Better Long Island and the Commercial Industrial Brokers Society Wednesday night.
The award, presented at the 23rd annual Long Island Real Estate Dinner, held at the Heritage Club at Bethpage, formerly Carlyle on the Green, was given to Colliers for its sale of the former Pall Corp. building at 25 Harbor Park Dr. in Port Washington to Kiss Nail Products Inc. for $30 million.
Kiss, which received tax assistance from the Nassau County Industrial Development Agency, purchased the 272,000-square-foot building last year. As part of the sale, Pall agreed to lease 90,000 square feet of space.
The property, which was used as a laboratory and office space for Pall, presented challenges to brokers when marketing the building. Previous plans called for dividing its interior into multi-tenant office spaces before Kiss came along looking to transform the building for industrial and warehouse use.
The local Colliers team included Gus Nuzzolese, Darren Leiderman, Jason Meietta and Ken Enos.
Rechler Equity Partners of Plainview was also honored, taking home the developer of the year award for its $250 million development of Greybarn Amityville, a multifamily, mixed-used rental complex on the site of the former Frontier Park residential trailer park in North Amityville. The first two phases of the project are complete, accounting for 205 rental units, and the third is expected to be complete this summer.
“For decades, the leadership at Rechler Equity Partners have been at the forefront of Long Island real estate development, Greybarn being their latest example,” Kyle Strober, executive director of ABLI, said in a statement.