DEEDS : AvalonBay, Siemens and Syms
By ALEX PHILIPPIDIS :: February 10, 2007

Four interesting deeds were recently recorded with the County Clerk’s office:

AvalonBay: The Alexandria, Va.-based rental apartment REIT paid AT&T $13 million for the White Plains site where it plans to build Avalon Rockledge, to consist of 393 units within a 14-story apartment building ringed by lower-rise townhouses. The site had been a parking lot for buildings AT&T has long occupied on nearby Hamilton Avenue.

Avalon Rockledge will occupy almost an entire block on the northern fringe of downtown White Plains, bordered by Church Street, Cottage Place, and Barker and Rockledge avenues. The block’s only property not acquired was the Barker Avenue home of Peter Zheng, who hoped to overturn approvals for the project when he sued the city last year. Filed Jan. 30.

Siemens Medical Solutions Diagnostics: The unit of German conglomerate Siemens AG shelled out $55.7 million for the Benedict Avenue campus it bought from another German corporate giant, Bayer AG’s Bayer Healthcare Solutions L.L.C. The sale is an outgrowth of Siemens’ nearly $5.5 billion acquisition of Bayer HealthCare’s Diagnostics Division, completed last year. Filed Jan. 31.

Syms: The off-priced clothing chain’s longtime pitchman and second-generation owner Sy Syms sold for a combined $17.77 million the two parcels comprising the retailer’s Elmsford store on Route 119. Probably more of a generational shift than anything else for the family-owned store that still likes to say: “An educated consumer is our best customer.” Filed Feb. 2.

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