Cohen & Perfetto LLP assisted Petrossian Inc. in obtaining benefits from New York City in connection with the relocation of their business and 31 employees, to a new facility located at 11-36 46th Rd., Long Island City in Queens.
Founded in the early 1920s, by Armenian brothers Melkoum and Mouchegh Petrossian, Petrossian Inc. has grown into one of the leading distributors of caviar and fine foods in both the New York City area and across the globe. In addition to their locations in Manhattan, Las Vegas, West Hollywood and soon LAX, Petrossian has most recently added a new facility in Long Island City.
By utilizing the Relocation and Employment Assistance Program, the legal team at Cohen & Perfetto was able to obtain benefits from the New York City Department of Finance for Petrossian at the new Long Island City facility. The client will receive a $3,000 credit per employee on their NYC Corporation Tax for the next 12 years for each employee that is moved to the new facility.
Cohen & Perfetto also filed applications for the Industrial and Commercial Abatement Program (ICAP) and the Energy Cost Savings Program (ECSP) for Petrossian Inc. This series of transactions was led by Louis Perfetto Esq. who worked with Christine Mulryan, also of Cohen & Perfetto.