Long Island story: The Cerro Wire development saga comes to a close!

Written by Posted On Saturday, 01 February 2014 06:05

Simon Property Group out-dueled Taubman Centers, Inc. in the Cerro Wire development saga centered in Syosset, New York that has stretched out over many years and cost Taubman quite a bit of money!

Hotly contested by the community from the start Simon Property, owner of such properties as the Roosevelt Field Mall, foiled the attempt of Taubman Centers to bring an upscale mall to a former industrial property located just north of the Long Island Expressway in Syosset.

Simon Property had recently purchased a parcel adjacent to the Cerro Wire land from the Town of Oyster Bay and has now completed the purchase of the Cerro land from Taubman promising to bring a mixed-use development to the property.

The President of the Cerro Wire Coalition which had long fought Simon had this to say about the sale: ‘We look forward to working with the new owner to redevelop the property with an alternate development concept that is supported by the community and the town.’

Read the rest of the story at The Hallmark Abstract Sentinel here.

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Michael Haltman

Hallmark Abstract Service provides title insurance for both residential and commercial real estate transactions in New York State.

Hallmark Abstract President Michael Haltman is also extremely involved with the combat veterans 501(c)(3) Heroes To Heroes Foundation, serving as the Board Chair.

Hallmark Abstract Service

In 2008 we opened our doors focused on two primary goals:

Number one was to be a title insurance company that would provide clients with a superior finished product that completely protects their interests for what will likely be one of the largest transactions of their lifetime.

Number two was to insure that the experience of working with Hallmark Abstract Service was as easy and seamless as possible for all parties involved in the transaction!

From the number of satisfied clients who come back to Hallmark Abstract Service time after time for their title insurance needs, the evidence bears out that we have accomplished these two goals in the past and will maintain our client centric focus far into the future!

Michael Haltman

Post 1984 MBA in Finance from the State University of New York at Albany that concentrated on the tax-exempt market, Michael became a municipal bond analyst at Shearson/Lehman Brothers tasked with following general obligation issuers on the city and state level as well as housing bonds secured by mortgage pools.

This experience at Shearson/Lehman Brothers followed by stints at PaineWebber and Citigroup provided a broad framework and understanding of the real estate and mortgage markets.

As CEO of Exeter Commercial which underwrote and funded commercial mortgage loans as a correspondent lender, title insurance played a critical role in both the underwriting and closing process.

In 2008 recognizing both an opportunity and need, Hallmark Abstract Service was born.


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