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Farmingville credit union site sells for $4.6M
Teachers Federal Credit Union has sold its former corporate headquarters building in Farmingville, and the buyer will renovate it and sell units as full-floor or half-floor office and medical-practice condominiums, brokers in the transaction said Tuesday.
The $4.6 million all-cash transaction closed last week for the five-story building, with 47,000 square feet of office space, at 2410 North Ocean Ave.
The buyer is Soundview Realty Group, of Medford. Leo Farrell and John O’Hara of Hauppauge-based Corporate Realty Services Llc brokered the deal.
TFCU had been there 30 years and has signed a 10-year lease for the building's first floor, where it will operate a branch, the brokers said.
Soundview will renovate the rest of the building inside and out, "thereby breathing new life by transforming the building into a multitenant office and medical facility," the brokers said.
TFCU has its new office at 102 Motor Pkwy. in Hauppauge, a larger building it bought last year. It will move administrative offices there from its Farmingville, Holbrook and Smithtown operations.
Photo: Teachers Federal Credit Union building in Farmingville.