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Contact:
Michael R. Coston
Director of Marketing and Public Relations
Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP
Phone: 516-248-1700
Email: mcoston@forchellilaw.com
REPRESENTING
MARCUS ORGANIZATION, The Firm FACILIATATES CONSTRUCTION
IN TOWN OF BABYLON
BRINGING ICON LABS AND JOBS TO THE AREA
Mineola, February 08, 2003 — The Mineola-based law
firm Forchelli, Curto, Deegan, Schwartz, Mineo, Cohn & Terrana, LLP — spearheaded by partner Brian R.
Sahn — facilitated the construction of a building
envisioned by The Marcus Organization — a commercial
real estate development company covering the tri-state region
— as the site for a high-tech company drawing jobs
to the Island.
The Firm handled the land use, environmental, title,
facilities and organizational matters to conclude The Marcus
Organization’s $7,4000,000 purchase of the former
B.J. Wholesalers property in March. Sahn worked closely
with Babylon Town officials and the Industrial Development
Agency (IDA) and managed the negotiation of the 15-year
lease agreement to sole tenant, ICON. He is currently finalizing
a $16.5 million refinancing of the property with GE Capital
on behalf of ICON.
“The Marcus Organization saw the potential of the
property and simultaneously addressed the need to create
jobs in this economy,” said Sahn. “It is exciting
to have been a part of this multi-level transaction and
to have the opportunity to welcome ICON to Long Island’s
shores, the company’s first stateside location.”
ICON — a subsidiary of publicly traded ICON plc (Dublin,
Ireland) — is an internationally connected contract
organization that provides clinical research and product
development services to biotechnology and pharmaceutical
companies worldwide. ICON expects to add many technology-related
jobs to Long Island, which qualified the project for Town
of Babylon IDA benefits as an inducement for locating in
the Town of Babylon.
The Marcus Organization (Hauppauge, NY) managed the building
construction for ICON at 260 Smith Street, along Long Island’s
business corridor in Farmingdale, NY.
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