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Building Information
| Property Name | 925 Hempstead Turnpike, Franklin Square, New York |
| Building Size | 36,012 sq.ft. |
| Date Purchased | October 2004 |
| Purchase Amount | $3,900,000 |
| Occupancy at Purchase | 67% |
| Repositioning | This landmark building (“The Franklin National Bank” property) was acquired from a net lease property owner who was selling at the expiration of a master lease with Citibank on the entire property.
Simultaneous with the closing and in conjunction with the seller,the borrower consummated a new lease with JP Morgan Chase for a new bank branch and renegotiated the leases with the building’s existing tenants.
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