Community Chest sells 50-year-old building

The Five Towns Community Chest, a non-profit organization that funds local aid agencies, has sold off its headquarters which has housed its operations since 1956 for $4.25 million. A part of the proceeds is being donated to the Peninsula Counseling Center.

“In an effort to consolidate expenses and the needs for the community, a decision was made by the board under the leadership of Chairman of the Board Eric Keslowitz and President of the Chest Craig Spatz, to sell our main property at 124 Franklin Place,” said Shea Lerner, who became executive director of the Chest in mid-October. “The money is being put in the bank as an endowment, and as we move forward, we have a nice chunk of change that will benefit the community.”

The 11,788-square-foot building was purchased in 1956 with a gift of $25,000 from Eve Fox, the widow of William Fox, who established the Fox Film Corporation in 1915 and founded the Five Towns Community Chest in 1931. It was sold to 1040 Central Avenue LLC on Oct. 14. The Chest relocated to a storefront at 1004 Central Ave. about four months ago.

The organization also owns the building at 112 Franklin Place, which houses the Tempo Group, a substance treatment center. That building will not be affected by the sale, and the Chest will continue to pay a majority of Tempo’s expenses. Funds raised by the Chest help to ensure that local agencies like the Tempo Group can keep their doors open and continue to provide services to all in need.

The Peninsula Counseling Center (PCC) received $900,000 from the sale of the Chest’s building. “We’re very excited about it,” said Bruce Katz, president of the PCC’s board of directors. “It’s an extremely generous contribution from the Community Chest and it’ll be a tremendous help to us with our purchase of our new building which we acquired last year. We’re excited about working with the Community Chest as we have in the past.”

Lerner hopes to continue to fund agencies that provide services to children, seniors and mental health patients. “Our goal for moving ahead is to bring back a sense of community in the Five Towns through the Chest and meet the evolving needs of the Five Towns,” he said. He repeated the organization’s motto: “Neighbor helping neighbor, truly exemplifies the spirit in which the Five Towns communities unites to aid and assist those in need. Together, we make a difference.”

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