(For more retail coverage, click GlobeSt.com/RETAIL.)

SYOSSET, NY-Taubman Centers is looking to gain final approval to develop the mall at Oyster Bay, a $500-million mega-shopping mall here, by handing the decision over to the Supreme Court of the State of New York, Suffolk County. The 39-acre project, which has been on the drawing boards for years, has run up against disapproval from the town board and has subsequently been put on hold without the necessary building permit.

The new 860,000-sf mall will be anchored by Neiman Marcus, Nordstrom and Barney’s New York and will include 100 inline stores. An estimated $51 million in annual salaries from the mall is expected to benefit the local economy; as well as $8.6 million in real estate taxes and $26 million in sales taxes.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.