MATTERS OF INTEREST

Chris J. Coschignano and Nicholas Cappadora Represent Developer in Mixed-Use Development at Great Neck Plaza

Nicholas Cappadora, an Associate with the Firm, represented the Firm at a ribbon cutting ceremony for the Galleria in the Village of Great Neck Plaza on July 23. Mr. Cappadora, along with Firm Member and Partner Chris J. Coschignano, served as Industrial Development Agency (IDA) counsel on behalf of the developer, Nemat Development Group, before the Nassau County IDA.

Mr. Coschignano and Mr. Cappadora assisted the developer in securing a financial benefits package from the IDA, which included a PILOT (Payment In Lieu of Taxes) agreement, sales and use tax exemption on construction materials and an exemption from mortgage recording taxes for financing this project.

The Galleria is a new 46,100-square-foot building featuring 4,000 square feet of retail space at ground level and 30 rental apartments located above the stores. Amenities for the residents include a fitness center and on-site parking. It is located on 5-9 Grace Avenue, less than two blocks away from the Long Island Rail Road station.

This was reported by Long Island Business News.

Click here to read the article.

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