Real Estate Weekly:
Metropolitan Doling Out Gas Cards to Brokers on Long Island
New York Real Estate Journal:
Metropolitan Realty Associates Breaks Ground on 161,000 s/f Office Building
Islip Bulletin:
Engineering Growth; Creating Jobs
Real Estate Weekly:
Catering Company consolidates at Sunrise Center
Newsday:
Farkas' New Tenant.
Real Estate Weekly:
Aetna takes Sunrise spot.
Newsday:
Citizens Bank Opens First LI Branch.
Long Island Business News:
In real estate, it's good to be on the outside
Islip Bulletin:
Corridor Concerns to be Addressed
New York Real Estate Journal:
17,544 s/f lease at Sunrise Business Center
Islip Bulletin:
Corridor Concerns to be Addressed
Long Island Business News:
Inside Out - Office Workers are the Winners in this Space Race
Real Estate Weekly:
Sunrise Business Center Signs Largest Transaction to Date
Long Island Business News:
Before Stop and Shop debut, bank inks training site
Real Estate Weekly:
Metropolitan buys LI business center in
$20M+ deal
Newsday:
Former Northrop site sells for $20M
Long Island Business News:
Fearless Farkas at is again
Long Island Business News:
Tech center sold
Suburban Markets:
Joseph A. Farkas, president of Metropolitan Realty Associates LLC, has been honored
Long Island Business News:
Is Farkas dynamic enough for Great River turnaround?
Long Island Business News:
Fearless Farkas at it again
Real Estate:
Farkas nabs Netsmart deal at Sunrise Business Center
Raymond Ruiz
T 516.677.1704
F 516.364.6943
Raymond.Ruiz@cbre.com
Bruce Nelson
T 516.677.1740
F 516.364.6943
Bruce.Nelson@cbre.com
Marianne Dugan
T 516.677.1741
F 516.364.6943
Marianne.Dugan@cbre.com
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Sunrise Business Center
is located within a New York State Designated Empire Zone, which carries significant incentives and tax savings subject to meeting eligibility requirements.
Real Estate Taxes
PILOT Program (Payment In Lieu Of Taxes)
Ownership, on behalf of Sunrise Business Center tenants has secured a favorable PILOT Program. In addition to the real estate taxes being nearly 50% lower than most properties in Suffolk County, the real estate taxes are fixed for a period of five (5) years commencing in 2007. Thereafter, the real estate taxes will only increase 3% per annum from the sixth year through the fifteenth year.
Since the real estate taxes will be fixes for the next five years, tenants will not be responsible for paying any increase in real estate taxes. Thereafter, not only will the increase be minimal, the tenant will know exactly what their share of the real estate taxes will be for the remainder of their lease term.
Empire Zone
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10-year exemption from state sales tax on purchases of good and services (including utility services) used predominantly in the zone;
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Credit against tax equal to a percentage of taxes attributable to the zone enterprise;
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Refundable credit against business tax equal to the greater of wages/benefits formula or capital investment amount not to exceed real property taxes paid in the zone;
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Wage tax credit available for up to five consecutive years for companies hiring full-time employees in newly created jobs – for employees with special targeted groups this credit equals $3,000 per year with a credit of $1,500 per year for all other new hires;
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Businesses that create new jobs and make new investments in production, property and equipment may qualify for tax credits of up to 19% of the company’s eligible investment;
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Businesses new to New York State are entitled to a 50% cash refund of unused EZ-WTC and ITC amounts – other businesses may carry forward unused credits indefinitely;
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Special reduced electric and gas rates may be available through investor-owned utilities in New York State – businesses that locate or expand their operations in the zone may receive significantly reduced rates.
SEE HOW MUCH YOU CAN SAVE!
Enter the amount of space you plan to lease and click "Show Savings".
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