Proposed FedEx warehouse in Bethpage gets $3.1M in tax breaks

New York /
Dec.December 24, 2018 12:47 PM

Nassau’s Industrial Development Agency awarded a sales tax exemption worth up to $3.1 million to Steel Equities so it can buy construction supplies for its proposed FedEx Ground warehouse in Bethpage, according to Newsday. The planned 244,500-square-foot warehouse is estimated to bring nearly 200 jobs to the site of a former Northrop Grumman aerospace manufacturing complex. The $51 million warehouse will be included in a 2011 IDA deal that has reduced taxes on the old Northrop Grumman site for 40 years. Steel Equities’ property taxes have risen along with its income from rents on buildings at the 105-acre property. The IDA also reduced the developer’s mortgage recording tax of up to $288,257. [Newsday]


Related Articles

arrow_forward_ios
Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow)

Hotelier buys waterfront Boca Raton home for $6M

Hotelier buys waterfront Boca Raton home for $6M
Long Island is aiming to keep the business it grabbed from the city during the pandemic, and it now knows how. (iStock)

Long Island plots to keep its pandemic gains from NYC

Long Island plots to keep its pandemic gains from NYC
J.C. Penney at the Westfield South Shore mall in Long Island and  J.C. Penney CEO Jill Soltau (Google Maps; Getty)

J.C. Penney to keep Bay Shore outpost open for now

J.C. Penney to keep Bay Shore outpost open for now
The Uniondale Marriott and Ten-X's Matthew Schreck (Credit: LinkedIn)

Long Island’s hotel market could be headed for a downturn

Long Island’s hotel market could be headed for a downturn
Home sales up nearly 10% as Nassau and Suffolk inventory swells, Airbnb hosts could make $255K during PGA event & more Long Island real estate news

Home sales up nearly 10% as Nassau and Suffolk inventory swells, Airbnb hosts could make $255K during PGA event & more Long Island real estate news

Home sales up nearly 10% as Nassau and Suffolk inventory swells, Airbnb hosts could make $255K during PGA event & more Long Island real estate news
Placeholder image

Potential traffic from New Hyde Park revitalization plan irks local residents

Potential traffic from New Hyde Park revitalization plan irks local residents
Placeholder image

North Babylon apartment plan altered to secure IDA funds, appease neighbors

North Babylon apartment plan altered to secure IDA funds, appease neighbors
Placeholder image

Former Superfund site in West Islip bought for $2.45M ahead of development

Former Superfund site in West Islip bought for $2.45M ahead of development
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...