Long Island Cheat Sheet: RXR Realty scores $53.9M loan for Glen Cove project … & more

TRD New York /
Oct.October 29, 2018 12:30 PM

Clockwise from top left: RXR Realty scored a $53.9M loaned for Village Square project in Glen Cove, Seaside inn development project imperiled by Bayville mayor, Islip locals say proposed slaughterhouse’s smells would decrease area home values and Melville Marriott finishes second part of $12M renovation.

RXR Realty scores $53.9M loan for Village Square project in Glen Cove
The Uniondale-based developer RXR Realty won financing from from M&T Bank for the developer’s Glen Cove mixed-use development project called Village Square, Long Island Business News reported. The bank provided a $53.9 million construction-to-permanent mortgage loan. When finished, the 2.8-acre Village Square will have 146 rental apartments, 17,500 square feet of retail space. The project is near RXR’s $1 billion Garvies Point development, which is also under construction. That project will transform 60 acres of industrial sites to 1,100 homes, with about 75,000 square feet of retail and office space and 28 acres of waterfront parks. [LIBN]

Hotel project imperiled by Bayville mayor
Bayville Mayor Robert De Natale wants to stop the development of a 23-key hotel by repealing zoning code changes made by the previous administration, according to Newsday. The developers behind the project are Ward Capital Management LLC of Dobbs Ferry, Euroamerican Funding Group LLC of Chappaqua and the property owner Leonard Gross. Capital plans to invest $30 million in the project and is also looking to to redevelop the nearby Tides Motor Inn, which would operate under the same entity as the hotel in question. De Natale was elected in June on a platform that opposed the project, calling it out of character for the area. He wants to repeal zoning changes enacted by the former mayor, which had allowed the project to proceed. “People moved here for a single-family community feeling,” he told Newsday, adding that “We could find better uses for that property.” The village will have a hearing about repealing the code on Nov. 26. [Newsday]

Southampton pauses plan to buy Hampton Bays motel and turn it into condos
The Southampton Town Board tabled a proposal to buy and raze the problem-plagued Bel-Aire Cove Motel in Hampton Bays motel in order to turn it into a condo development, Newsday reported. The board is expected to vote on the proposal in November. Town Supervisor Jay Schneiderman put the plan forward in August, to sell the land to a developer and using any profits to finance similar proposals in the future. The owners of the motel property have said they’re willing to sell to Southampton Town for $1,060,000. The deal would be handled by the town’s Community Development Agency. [Newsday]

Islip locals say proposed slaughterhouse’s smells would decrease area home values
At a zoning board of appeals meeting, dozens of Islip residents tried to torpedo a proposed slaughterhouse by arguing that smells emanating from it would decrease home prices in the neighborhood around it. They also said that it could create other environmental problems. The board is weighing the application from Joseph Rosario who wants to build a 6,000-square-foot slaughterhouse, but needs a zoning variance. Rosario said his business would be “highly regulated” by the state’s agriculture and health departments. The board didn’t vote on the application at the Tuesday meeting and gave Rosario 60 days to submit more materials about traffic impacts and specifications about its heating and cooling system. [Newsday]

$12M renovation completed on Melville Marriott
The Melville Marriott finished a $12 million modernization of its 371 guest rooms, its conference rooms and ballroom event space, LIBN reported. The guest rooms of the hotel, which is owned by Kentucky-based Columbia Sussex, now have 49-inch flat screen televisions, window treatments and redone bathrooms with walk-in showers. The rooms and public spaces have more outlets and USB ports for guests. This is the second part of a two-phase process. In 2015, the hotel upgraded its lobby, bar and restaurant. [LIBN]


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