Real Estate
Former RVC Diocese HQ Gets Approval For Office Space
The 60,000 square foot location is expected to generate up to $300,000 in revenue, the Town of Hempstead Industrial Development Agency said.
ROCKVILLE CENTRE, NY — The former headquarters of the Roman Catholic Diocese in Rockville Centre has received preliminary approval to get converted into office space for Great Neck-based Philips International Holding Corp.
The proposed project at 50 N. Park Ave. includes a full renovation of the 60,000 square foot building, the Town of Hempstead Industrial Development Agency said.
The interior lobby, lower level and five upper floors will be demolished in order to suit the needs of class-A office tenants.
Find out what's happening in Rockville Centrefor free with the latest updates from Patch.
In addition, building systems will be upgraded or replaced. The developer has no tenants committed.
"The project, should the IDA grant final approval, will create hundreds of new jobs as the building is upgraded and tenanted and bring in new revenues for all the taxing jurisdictions," Fred Perola, IDA CEO said in a statement.
Find out what's happening in Rockville Centrefor free with the latest updates from Patch.
The diocese sold the five-story building in March 2021 to Hempstead-based Synergy Holding Partners for $5.2 million as part of its Chapter 11 bankruptcy proceedings.
The building, which had been exempt from property taxes while owned by the diocese, will generate nearly $300,000 in PILOT revenues and ultimately, at least $630,000 in taxes annually upon completion of a proposed 20-year PILOT program, the IDA said.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
