New Nassau County Coliseum lease
An aerial view of NYCB Live's Nassau Coliseum on April 5, 2017. An established developer, a plan that complies with Hempstead Town zoning and more than $100 million in state grant money are among factors stoking optimism that the sprawling property around NYCB Live’s Nassau Coliseum finally will be redeveloped after decades of failed efforts. Credit: ALL Island Aerial/Kevin P. Coughlin
For decades, Nassau County has grappled with its ownership of the struggling Nassau Coliseum and the many acres that surround it. Over and over again, Nassau failed to strike a lucrative economic development deal for one of the county’s largest and most valuable available tracts. Tenant after tenant, lease after lease, that effort failed, leaving Nassau with a mostly empty parking lot, a bare minimum annual rent payment, and a scarcely used Coliseum that’s saddled with debt.
Now, there is another proposed lease with a new potential tenant. And the Nassau County Legislature must decide later this month whether to transfer the Coliseum lease from Nick Mastroianni II and his company, Nassau Live Center, to Las Vegas Sands, which wants to build a casino and 500-room hotel-resort complex on the site. Take a look at the lease below.
