search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal“Investing before the ‘all clear’ sign”: Jon Gray on Blackstone’s $10B apartment deal
Commercial
New York

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

Sign Up for the undefined Newsletter

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]

Tags
Long Island