Great Neck Plaza Considers Grace Ave. Building

An influx of professionals who work in Manhattan prompted veteran developer Hooshang Nematzadeh to move fast on his latest project, a four-story, mixed-use space he calls his “signature” building.  

Nematzadeh, owner of Nemat Homes, appeared before the Village of Great Neck Plaza Board of Trustees Wednesday night seeking a conditional use permit for the estimated $8-10 million project.  

The proposed building would take up 5-9 Grace Ave. in the heart of the village and feature 4,800 square feet of retail space with three floors of apartments above consisting of 30 rental units.  

“We see people are now moving from Manhattan in the past six months,” said Nematzadeh, citing recent rentals in other buildings he manages. “I believe that’s a real positive development for our region.”  

A fragile economic recovery followed by the devastation of Hurricane Sandy has left Long Island in a housing crunch. And Nematzadeh has a vision that’s equal to his current role as president of the chamber of commerce.  

Mayor Jean Celender said Great Neck Plaza already has approximately 12 rental buildings, but echoed the need for more affordable housing where appropriate.  

“It’s a tremendous need not only in Great Neck, but across Long Island,” Celender said. “You try to keep our young professionals here and people who want to downsize. There’s a tremendous need for rentals.”  

Nematzadeh, who conceived of the project within the last eight months, addressed concerns village trustees brought up at a previous board meeting. Project architect John Schimenti said the building’s height has been lowered to 35 feet to meet code and the number of apartments culled from 47 to 30.  

Its 55 parking spaces also meet village requirements, Schimenti said.  

Celender recommended Nemat Homes appear before the trustees again in June. Barring a setback, Nematzadeh said the next step would be the Board of Zoning and Appeals. Nematzadeh cited an expanded environmental study, traffic study and further design refinements on his to-do list.

The building, one block from the Long Island Rail Road, would replace the Citibank drive thru as well as four retail shops.  

Nematzadeh hopes to break ground on the 18-month construction project in August or September.  

“This location is unique,” Nematzadeh said. “It is an outstanding location. It is going to be a signature building, a trophy building.”