900 & 990 Stewart Avenue

LEG developed a two-building, 450,000-square-foot Class A office complex in Garden City, N.Y., in a joint venture with Met Life. Construction and permanent financing was provided by the Bank of New York and was enhanced by the use of IDA bonds. The first building, known as Atria West (900 Stewart Ave.), was immediately sold to Chase Manhattan Bank at which point LEG bought out Met Life’s interest in the project. The second building, Atria East (990 Stewart Ave.), was 98 percent leased to 10 credit tenants at completion of construction. LEG owned, managed and leased Atria East until it was sold in 2005.

LEG advised the Partnership on the sale Atria East in 2005. New ownership retained LEG as the property manager and leasing agent.