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Men on the Move Gets Tax Break for New Self-Storage Headquarters/Facility in Woodbury, NY

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Men on the Move Moving & Self-Storage will receive a significant tax break from Nassau County, N.Y., officials to keep its new headquarters in the county rather than relocate to Queens, N.Y. The storage business plans to purchase a vacant office building at 150 Crossways Park Drive W. in Woodbury for its offices and build a 90,000-square-foot storage facility on the property, according to the source. The move from Floral Park will expand its HQ by 47 percent.

The project is expected to cost $18.6 million, preserve 72 jobs and add 11 positions by 2021, the source reported. In return, the Nassau Industrial Development Agency (IDA) offered a $350,200 sales-tax exemption for the purchase of construction materials, equipment and fixtures, along with a  $132,100 discount on the mortgage-recording tax. As part of the deal, the property tax will be frozen for one year, followed by incremental increases of 1.66 percent for the next 14 years.

This is the second time Men on the Move has received a tax deal from Nassau County. It received breaks of more than $161,000 in 2014 when it expanded a Floral Park self-storage facility. It also received tax deals for facilities it built in Garden City and Glen Cove, N.Y.

Atlanta-based Storage Post Self Storage acquired Men on the Move’s Floral Park and Huntington Station, N.Y., storage facilities last year.

The Nassau IDA has previously received criticism for the tax breaks it’s given to Men on the Move and other self-storage operators, according to the source, but executive director Joseph J. Kearney defended the most recent deal. “This isn’t two employees, and the company purchases 87 percent of its goods and services in Nassau County,” he said. “We are happy to have them.”

No timeline was reported for the development project.

Founded in 1985, Men on the Move has a fleet of moving trucks and another storage facility in Farmingdale, N.Y.

Sources:

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