The Real Deal New York

Long Island Cheat Sheet: Talks halt over $1B redevelopment proposal for Nassau Coliseum … & more

By Aidan Gardiner | May 07, 2018 04:50PM

Clockwise from top left: Talks halt over $1B redevelopment proposal for Nassau Coliseum area, one bedrooms added to $21M Huntington Station project to meet demand, Northwell buys former Lake Success bank headquarters for $36M and Manorville real estate agent arrested for taking deposits on fake listings.

Talks halt over $1B redevelopment proposal for Nassau Coliseum area
Onexim Sports and Entertainment, the company that has the ground lease for the property around the Nassau Coliseum, dropped talks with Blumenfeld Development Group over its proposal for a $1 billion redevelopment of the area. Onexim said it now wants to review potential plans from other companies. Blumenfeld, of Syosset, hoped to build 1.7 million square feet of entertainment, rental housing, recreation and technology buildings in the 61 acres around the coliseum. [LIBN]

Northwell buys former Astoria Bank headquarters in Lake Success for $36M
Northwell Health spent $36 million to acquire the 103,000-square-foot onetime headquarters of Astoria Bank in the village of Lake Success in Great Neck, Long Island Business News first reported. The site had been owned by Montebello-based Sterling Bancorp, which bought Astoria Bank for $2.2 billion last year. The health company was represented by Blue Sky Real Estate Services with Sterling being represented by Brian Lee of Newmark Knight Frank and Al Callegari of DLC Management Corp. [LIBN]

Islip board split by surprise appointments to agency overseeing affordable housing funds
The Islip town board voted 3 to 2 to approve three immediate staff replacements to the Community Development Agency, which administers affordable housing funds, runs a lottery for first-time home buyers and works to fix community blight. The appointments hadn’t been on the agenda at the April 24 meeting and some felt they didn’t get proper time to vet the candidates. Despite that, the majority voted to replace three members who were not told about the vote ahead of time, Newsday reported. The agency is set to spend about $5.6 million this year, including about $2.7 on federal housing, developing the College Woods area and financing new homes in Brentwood. [Newsday]

Manorville real estate agent arrested for taking deposits on fake listings
Melanie Williams, 54, was charged with taking money from would-be renters after listing a Hampton Bays rental home that wasn’t actually available, Patch reported. As the move in date approached, Williams would tell the prospective renters that the units still weren’t available. Williams has been charged with three counts of fourth degree grand larceny and committing a scheme to defraud. [Patch]

One-bedrooms added to $21M Huntington Station project to meet demand
G2D Development has revised its plan for the $21 million housing project in Huntington Station, adding about 12 one bedroom units and shrinking the amount of studios offered in an effort to meet demand and offset labor costs. The original plan for the 61,000-square-foot Gateway Plaza development called for 33 one-bedrooms and 33 studios. There will now be 45 one bedrooms, 10 two bedrooms and 11 studios. The developer can now charge more for the bigger units, thus offsetting expensive union labor, G2S said. [Newsday]