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Bank Lines Up Back Office Space on LI

HICKSVILLE, NY-The upcoming restoration of the downtown area and the LIRR station lured the bank to snap up new office space.

By Rayna Katz | Updated on January 10, 2013

HICKSVILLE, NY-Banking on the appeal of close proximity to major transportation, New York Community Bancorp reported on Wednesday that it has purchased 102 Duffy Ave., a building near the Hicksville station of the Long Island Rail Road, which is in the throes of a major restoration. NYCB paid nearly $11 million for the acquisition, according to industry sources. and it was represented by CBRE. The seller of the 160,000-square foot office building was Ivy Equities.

CBRE’s team on the transaction was comprised of Philip Heilpern, svp, Martin Lomazow, svp and Paul Muratore, evp. The structure is part of a 460,000-square-foot complex that includes another building, 100 Duffy Ave. The complex was just purchased by Ivy in September of last year. Once the sale is complete, NYCB plans to move many of its back-office operations into the building, bringing hundreds of jobs into the area, according to the release.

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