The Real Deal New York

Long Island Cheat Sheet: RXR Realty and BSE Global join forces on Nassau Coliseum project … & more

By Aidan Gardiner | September 03, 2018 05:00PM

Clockwise from top left: Dick Cavett slashes price of Montauk home down to $48.5, Waterfront Center Moriches home once owned by Ferdinand Marcos up for auction, RXR Realty and BSE Global join forces on Nassau Coliseum project and Rockville’s Molloy College gets early approval of $15M in bonds for dorm project.

RXR Realty and BSE Global join forces on Nassau Coliseum project
Executives from RXR Realty and BSE Global met last week, ultimately agreeing to a joint venture to potentially redevelop the area around the Nassau Coliseum, according to the Long Island Business News. BSE leases the uniondale site from Nassau County and operates the arena itself. The move puts RXR in a favored position to win the bid for the redevelopment project, for which the county received more than a dozen proposals. RXR wouldn’t elaborate on its plan, but confirmed that it falls within current zoning, which allows for 500 residential units at the site. County officials are expected to release a statement on the Coliseum project this week. [LIBN]

Dick Cavett cuts price of Montauk property down to $48.5M
Iconic talk show host just couldn’t find any takers when he listed onetime Montauk home, Tick Hall, at $62 million last year. Now, he’s hoping to get a little more traction with a $48.5 million price tag, though Cavett’s wife speculated to the Wall Street Journal that buyers may be wary of investing in real estate because of a booming stock market. Dating back to the 1880s, the home is one of the Hamptons’ “Seven Sisters,” residences designed by the architects at McKim, Mead & White and now part of the Montauk Association Historic District. Tick Hall sits on 20 acres on a bluff overlooking the sea. The 7,000-square-foot home has six bedrooms, a bell tower with a wraparound porch, paths through woods, a Japanese pagoda, pond and a staircase to a private beach known as Cavett’s Cove. Gary DePersia of the Corcoran Group is sharing the listing with colleague Karen Kelley. [WSJ]

Rockville’s Molloy College gets early approval of $15M in bonds for dorm project
The Town of Hempstead’s Local Development Corporation has issued a preliminary authorization to sell $15 million in tax-exempt bonds to fund building a dormitory at Molloy College in Rockville Centre, Long Island Business News reported. The sale still needs to be approved by the town supervisor and go through a public hearing. Molloy wants to use that money to complete the third phase of its $20.5 million campus master plan. The three-story dorm, which is part of that, would be 27,000 square feet, including 95 beds. [LIBN]

Enzo Biochem expands with $6M Farmingdale building
Biotech firm Enzo Biochem is in contract to buy a $6 million industrial building in Farmingdale with 35,875 square feet, Long Island Business News reported. The building is just across the street from the company’s existing complex. With the new site, Enzo would have a footprint of nearly 101,000 square feet. The Babylon Industrial Development Agency is giving the company significant abatements and other financial incentives for the purchase of the new site, which is expected to house an additional 80 employees over the next three years. The sellers are the former owners of Wrap-N-Pack, which was sold in 2016. The company SupplyOne is still leasing the site, but is looking for a larger space in the area. [LIBN]

Center Moriches mansion once owned by Philippines dictator hits the auction block.
The onetime home of Philippines dictator Ferdinand Marcos and his infamous shoe-loving wife Imelda will hit the auction block for a starting bid of $2.1 million, according to the New York Post. In 2017, the waterfront home in Center Moriches was appraised for $4.4 million. The 10,000-square-foot home, which was designed by Stanford White, has 14 bedrooms, 16-and-a-half bathrooms, a 1,500-square-foot glass pool house, a pool, tennis court and a carriage house. Maltz Auctions will hold its auction on Sept. 13. Marcos owned the home from 1981 to 1987 and it was referred to as his summer home, according to the auction house, Maltz Auctions. Marcos was driven from power in 1986 and exiled to Hawaii where he died in 1989. [TRD]