Flushing Bank has announced it will move its headquarters from Lake Success to larger quarters in Uniondale.
About 160 workers now in several locations in New York City, mostly Queens, will join the 85 workers now in Lake Success in the new, leased, 90,000-square-foot headquarters in the RXR Plaza, said John R. Buran, president and chief executive of the bank’s corporate parent, Flushing Financial Corp.
The move will take place in phases between the last quarter of this year and first quarter of next year.
The bank also plans to open a 1,200-square-foot branch in the RXR building, to be staffed by about five people. It will be Flushing’s 18th branch unless another office opens before that, said Buran.
“Over the past year, as our business continued to grow and our current lease nears its end, we recognized the need to identify a new headquarters location to enable us to sustain this growth and provide for the efficiencies and synergies that result from the majority of staff being under one roof,” he said in a statement.
He said Flushing got support in the form of property tax abatements from the Town of Hempstead Industrial Development Agency because the relocation brings about 250 new jobs into the town from the city and Town of North Hempstead.
The RXR platform manages 71 commercial real estate properties and investments with an aggregate gross asset value of approximately $20.5 billion, comprising approximately 31.4 million square feet of commercial properties, inclusive of approximately 6.0 million square feet of buildings securing debt and preferred equity investments, a multi-family residential portfolio of approximately 2,500 units under operation or development, and control of development rights for an additional approximately 3,700 multi-family and for sale units in the New York Metropolitan area as of June 30, 2019. Gross asset value compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.