Billy Joel performs on the night in 2017 that NYCB Live: Nassau Veterans Memorial Coliseum reopened after renovations.

NYCB Live: Nassau Veterans Memorial Coliseum, the Long Island arena that reopened in 2017 after a $180 million renovation and ranks among the top ticket sellers in its capacity class, will be closed indefinitely, according to an announcement Tuesday.

Onexim Sports and Entertainment, which has a lease with Nassau County to operate the building, said in a statement that the COVID-19 pandemic had, in addition to causing the cancellation or postponement of arena events, delayed the planned development around it. The company’s plans were first reported earlier in the day by Bloomberg.

Onexim has reportedly expressed willingness to turn over the lease to investors who were willing to assume about $100 million in loans on the property. The annual rent on the arena is said to cost Onexim more than $4.4 million a year.

Mikhail Prokhorov, former owner of the Brooklyn Nets and Barclays Center, is the principal owner of Onexim Sports and Entertainment.

The arena was the home of the NHL’s New York Islanders from 1972 to 2015, when it closed for renovations. The Islanders moved to Barclays Center in Brooklyn but returned to play part of the last two seasons at the coliseum and were to return there full time this year until the completion of their new arena at Belmont Park, which is expected to be completed in 2021. (Oak View Group, which is involved in that project as part of New York Arena Partners, also owns VenuesNow.)

The 14,975-capacity arena has been a powerhouse in the 10,001-15,000 Capacity category in VenuesNow’s Top Stops since its reopening. It placed sixth worldwide and second in North America on the 2019 year-end charts.