The Real Deal New York

Long Island Cheat Sheet: Berkshire Hathaway enters LI market with Laffey International deal … & more

By Aidan Gardiner | July 09, 2018 02:20PM

Clockwise from top left: Berkshire Hathaway lands on Long Island with Laffey International deal, Rechler Equity project gets Suffolk County tax break, Developer tries again to push forward stalled Huntington office project and Nassau officials want to hire consultant to help spur affordable housing development.

Berkshire Hathaway lands on Long Island with Laffey International deal
Laffey Fine Homes International, based in Greenvale, will join Berkshire Hathaway franchise network founded and run by Warren Buffett. The new Long Island franchise is the California-based Berkshire Hathaway’s first foray into the Long Island market, Long Island Business News reported. The local company, which currently has locations in Glen Cove, Williston Park and Woodbury in addition to Greenvale, will become Berkshire Hathaway HomeServices Laffey International Realty. The firm announced that it will open additional offices in Nassau, Suffolk, Queens and Brooklyn. [LIBN]

Nassau officials seek consultant to liaise with developers on affordable housing 
Nassau County Industrial Development Agency officials want to hire a consultant who could help them work more productively with private developers to bring more affordable housing and transit-oriented housing to their county, Newsday reported. The consultant would help review the agency’s benefits for multifamily projects, tax benefit applications for affordable projects and redevelopments of county-owned sites. [Newsday]

Rechler Equity project gets Suffolk County tax break
Suffolk officials issued a preliminary approval of tax breaks for the Rechler Equity Partners’ expansion of the Hampton Business District in Westhampton Beach. The breaks, which came from the Suffolk County Industrial Development Agency, will go towards a $10.8 million, 64,360-square-foot building, which is the third of nine planned for the 50-acre business district. Offering spaces ranging from 2,000 square feet to more than 30,000 square feet in size, the new building is expected to create at least 42 new jobs when it’s complete. Two of the buildings there that’re already up and running offer 120,000 square feet of warehouse, distribution, manufacturing and office space to clients, which include Tate’s Bake Shop, Carrier Enterprises and Westhampton Beach Brewing Company. [LIBN]

Developer tries for zoning change in historic Huntington district 
Huntington officials will consider a zoning change for a historic site once visited by George Washington. Such a change would make way for Deer Park developer Dominick Mavellia’s plans to replace the food pantry and deli on the site with a 10,000-square-foot office building on the site. He had proposed the project back in 2015, but it stalled at the time over the zoning concerns. The next year, Mavellia shrunk the plans by 2,000 square feet and incorporated historical design elements, but it still didn’t move forward. Mavellia recently resubmitted his plans and resumed talks with architects, historical groups and community members. [Newsday]

Suffolk officials approve funding for $24.3M plan to connect public water to 520 Wainscott homes
East Hampton will issue a 20-year bond to pay for a $24.3 million project to connect 520 Wainscott homes to the public water supply, after private wells in the town were recently found to contain toxic chemicals. Town officials also voted unanimously on an agreement with the Suffolk County Water Authority, which will hire contractors for the project, Newsday reported. All homeowners in town will also pitch in to the project, with owners of properties worth more than $1.2 million paying up to $38 per year. Homeowners are also expected to pay for their hookups to the new water mains through taxes. The hookups could cost up to $6,000, but officials are trying to get grants to offset those new expenses. Roadwork Construction Corp. of Hampton Bays and Asplundh Construction Co. will try to complete the project by the end of the year. [Newsday]