A Farmingdale developer is moving ahead with plans for an 80-unit, $24 million apartment building in Lynbrook, one year after withdrawing plans for another residential project in the village that faced community opposition.
Terwilliger & Bartone Properties received tax breaks from the Nassau County Industrial Development Agency at the end of February to build the Cornerstone at Yorkshire, a four-story luxury rental apartment building on a Freer Street property where the Capri Lynbrook Motor Inn now stands.
Lynbrook Mayor Alan Beach said the community was “very upbeat” about the project, especially given the Motor Inn’s poor reputation. Beach described the hotel as “a terrible nuisance” where drug use and prostitution were common.
The Motor Inn's owner did not respond to a request for comment.
The warm reception for the new project stands in contrast to the reaction to a six-story, 200-unit building Terwilliger & Bartone previously proposed for another property in Lynbrook.
Some community members decried the earlier proposal as too big, and it became a divisive political issue in the village elections last year. The village board of trustees ultimately voted against the proposal, and Terwilliger & Bartone withdrew it last February.
Anthony Bartone, a managing partner of the development company, said Monday he expects to close on the Capri property in May and then demolish the old building and begin constructing the new one immediately after that. It will include studios and one- and two-bedroom apartments ranging in price from $2,300 to $3,400 per month. Eight of the units will be affordable.
He said the benefits offered by the IDA consist of a 20-year property tax break known as a PILOT, or payment in lieu of taxes, a mortgage recording tax abatement and a sales tax abatement. The PILOT will initially freeze property taxes at their current level of around $230,000 annually and then gradually increase them to over $1 million, he said.
Danielle Oglesby, the IDA's chief operating officer, said the two other tax breaks are together worth more than $883,000.
IDA chairman Richard Kessel said the IDA board voted 7-0 in favor of the project.
“It’s a grand slam,” he said. “We’re really excited about supporting it.”