Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The New York City Industrial Development Agency will assist three local manufacturers in the purchase of new facilities, ensuring their continued city presence. The properties, one each in Brooklyn, the Bronx and Long Island City, Queens, have an aggregate total in excess of 200,000 sf. The three manufacturers, Showman Fabricators, Abigal Press and Built-Rite Door Co., will create 70 new jobs.

Showman is a fabricator of scenery for Broadway and Off Broadway productions, network and cable television studios, museums and other spaces and special functions. The firm will consolidate its six locations in a 77,000-sf building at 47-22 Pearson Place in Long Island City with the help of $1.9 million in IDA-approved real estate tax benefits and sales tax exemptions over 25 years.

The company was established in 1986 with only two employees. Today, the firm has 126 employees and will add six more within three years. Showman has served television shows on CNN, CNBC, MSNBC and MTV. Its Broadway customers have included “42nd Street,” “Miss Saigon,” “Contact,” “Blue Man Group,” “The Crucible” and “The Sweet Smell of Success.”

Abigal Press, a manufacturer and distributor of printing and engraving for the funeral industry, will purchase and renovate the 82,000-sf multi-level building and 12,000-sf parking lot it currently leases at 68-92 Third St. in Brooklyn. Abigal will receive roughly $3.5 million in IDA-approved real estate and sales tax exemptions and a mortgage recording tax waiver for approximately $127,000.

Established in 1936, Abigal has more than 5,000 customers in the US. The company has 145 employees and will add nine more within three years. Clients include major religious organizations and institutions and numerous financial and law firms throughout New York City.

Specialty door and metal frame manufacturer Built-Rite Door Co. will acquire 18 city-owned parcels and construct a 30,000-sf facility at 3315-3321 Third Ave in the Morrisania section of the Bronx. The IDA has agreed to provide the company with $2.45 million in real estate and sales tax exemptions and a mortgage recording tax waiver of roughly $67,000. The company will employ 55 people within the next three years.

The IDA is the City’s primary vehicle for providing financing assistance to business, including small industrial and manufacturing companies and not-for-profit organizations. It issues tax-exempt industrial revenue bonds to assist eligible entities to finance expansion opportunities and offers qualified companies abatements on sales, real estate and mortgage 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?


GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.