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New York City-based Albanese Organization and Castagna Realty have formed a joint venture to purchase a three-story, 45,000-sf office building in Downtown Garden City. 1055 Franklin Ave. is approximately 50% occupied by Fidelity Investments and Network Adjusters. As part of the team's acquisition, Albanese and Castagna plan to "invest heavily in a complete building renovation to attract additional office tenants," according to executives from the Albanese Organization.