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Steel Equities seeks Nassau assistance to buy Goya property

A Google street view image of the Goya

A Google street view image of the Goya Foods facility in West Bethpage from August 2011. Photo Credit: Google

Commercial developer Steel Equities is seeking financial support from Nassau County to buy a Goya Foods Inc. facility in West Bethpage.

Bethpage-based Steel Equities wants to renovate the existing 161,360-square-foot building on the property and build a 44,000-square-foot building adjacent to it. The plans include a multitenant office, warehouse and industrial space, and specify a sublease for FedEx Freight Inc., according to a Nassau County Industrial Development Agency notice.

Steel has asked the county's IDA to be exempted from property taxes, mortgage recording taxes and sales taxes on the pending sale.

"Steel Equities has become very well known for what they've accomplished in Nassau," said Chuck Tabone, executive vice president and managing director of brokerage firm Newmark Grubb Knight Frank in Melville, who isn't involved in the sale. "They've been extremely successful in adaptive reuse."

Goya originally purchased the approximately 16-acre parcel at 201 Grumman Rd., from Northrop Grumman Corp. for $3.6 million. The site has been the location of the food giant's Long Island packaging and distribution center for 16 years.

Cushman & Wakefield is representing Goya in the sale.

The Goya property was once used as an aircraft runway when it was owned by Grumman Corp. No listing price has been given. The facility includes a 26-foot-tall warehouse, 14 loading docks and surrounding space, Tabone said.

A public hearing on the financial assistance request will be held Thursday morning at the Oyster Bay Community Center.


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