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Northwell buys Astoria Bank's former HQ and 20-acre property

Northwell hasn't formalized its plans for using the building, which housed Astoria before it was bought by Sterling Bancorp.

Northwell Health has acquired the building that previously

Northwell Health has acquired the building that previously served as Astoria Bank's headquarters at 1 Marcus Ave. in New Hyde Park. Photo Credit: Northwell Health

Northwell Health on Mon­day said it has ac­quired a 103,000-square-foot of­fice build­ing that pre­vi­ous­ly served as Astoria Bank’s headquarters until it was tak­en over by Sterling Ban­corp last year. 

The 20-acre prop­er­ty, lo­cat­ed at 1 Mar­cus Ave. in New Hyde Park, is im­medi­ate­ly north of Northwell’s Long Island Jewish Medical Center’s 48-acre cam­pus. 

Terms of the deal were not dis­closed. 

Northwell Health has yet to for­mal­ize plans for how the build­ing will be de­vel­oped.

Mon­te­bel­lo, New York-based Sterling Ban­corp agreed to sell the prop­er­ty as part of a broad­er ef­fort to bring to­gether more than 500 employees at Sterling’s re­gion­al of­fice in Jericho. The bank said late last year that it was laying off about 200 Astoria Financial employees on Long Island af­ter it closed the deal.  

“This trans­ac­tion is aligned with Sterling’s strat­egy to con­sol­i­date lo­ca­tions and re­duce our real es­tate foot­print in ord­er to drive in­creased ef­fi­cien­cies,” Sterling president and CEO Jack Kopnisky said in a state­ment. 

Blue Sky Real Estate Services rep­re­sent­ed Northwell Health in the acquisition. Sterling was rep­re­sent­ed by Newmark Knight Frank and DLC Management Corp.

Northwell Health is the larg­est pri­vate em­ploy­er in the state with 66,000 employees. 

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