Nassau County gives hefty tax break to owner of 1-800-Flowers building

Tri-State /
Jul.July 23, 2020 08:00 AM
1 Old Country Road, Carle Place, NY (Google Maps)

1 Old Country Road, Carle Place, NY (Google Maps)

The owners of what next year will be the former home of 1-800-Flowers.com got a big tax break from the Nassau County Industrial Development Agency this week, according to Newsday.

Owner DBD Realty, which bought the property in February, got a sales tax exemption of up to $672,750 on materials to renovate the five-story North Hempstead property, up to $97,500 off the mortgage recording tax, and a reduction in property taxes for 20 years.

The roughly 112,100-square-foot property was once the largest office building on Long Island. 1-800-Flowers.com signed a 97,000-square-foot lease at a Onyx Equities-owned property in Jericho earlier this year. The IDA also provided tax breaks to facilitate that move. [Newsday] — Dennis Lynch


Related Articles

arrow_forward_ios
(Getty; iStock)
ShopRite to close 23 pharmacies across New Jersey
ShopRite to close 23 pharmacies across New Jersey
New York Senators James Skoufis, Kevin Thomas, and Brian Kavanagh. (Facebook via Skoufis, Thomas, and Kavanagh respectfully)
Lawmakers call for stiff penalties, reform after housing discrimination probe
Lawmakers call for stiff penalties, reform after housing discrimination probe
Long Island Association CEO Kevin Law and a rendering of the Ronkonkoma Hub (Getty; Ronkonkoma Project)
Yes to conversions, no to rent regulation: LI biz group unveils real estate agenda
Yes to conversions, no to rent regulation: LI biz group unveils real estate agenda
(Getty)
Vacant Southampton retail must be opened to artists under new law
Vacant Southampton retail must be opened to artists under new law
Southampton Mayor Jesse Warren and Mark Epley (Getty)
Rival calls Southampton Mayor Jesse Warren a squatter
Rival calls Southampton Mayor Jesse Warren a squatter
Lewis Road Residential Planned Development (Pine Barrens, iStock)
Big golf, resi project in East Quogue approved
Big golf, resi project in East Quogue approved
Kim Cattrall and 105 Gerard Drive in East Hampton (Getty; Sotheby’s via Rebekah C Baker)
Kim Cattrall finds a buyer for her East Hampton cottage
Kim Cattrall finds a buyer for her East Hampton cottage
(Getty)
Suffolk County buys 93 acres of waterfront property, choosing preservation over development
Suffolk County buys 93 acres of waterfront property, choosing preservation over 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...