The $1.5 billion-asset parent of Ponce Bank said
in a press release Wednesday that it agreed to lease the property at an
initial base annual rent of about $926,100, subject to annual 1.75% rent
increases.
"We are excited about the sale and leaseback … and look
forward to continuing to provide the excellent products and customer service
that Ponce Bank has always been known for in the immediate neighborhood,” Carlos
Naudon, PDL’s president and CEO, said in the release.
“More importantly, 2021 continues to be a year of investing ─ in
the safety of our people and the future of our organization and our communities
─ with the clear goal of enhancing stakeholder value,” Naudon added.
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