**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      DC 20549**











**FORM
      8-K**


**CURRENT
      REPORT**





**Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of
      1934**





Date
      of
      Report (Date of earliest event reported): December 13, 2006





**NORTHEAST
      COMMUNITY BANCORP, INC.**


(Exact
      name of registrant as specified in its charter)





**United
                States**
            **0-51852**
            **06-178-6701**(State
                or other jurisdiction of
            (Commission
            (IRS
                Employerincorporation
                or organization)
            File
                Number)
            Identification
                No.)








**325
                Hamilton Avenue, White Plains, New York**
            **10601**(Address
                of principal executive offices)
            (Zip
                Code)





Registrant’s
      telephone number, including area code: **(914)
      684-2500**





**Not
      Applicable**


(Former
      name or former address, if changed since last report)








Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:





o Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)





o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)





o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act
      (17 CFR 240.14d-2(b))





o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
      Act
      (17 CFR 240.13e-4(c))








**Item
      1.01**  **Entry
      Into a Material Definitive Agreement**





On
      December 13, 2006, Northeast Community Bank (the “Bank”), the wholly owned
      subsidiary of Northeast Community Bancorp, Inc. (the “Company”) entered into an
      agreement (the “Agreement”) with MJ 1353-1355 First Avenue, LLC (the
“Purchaser”) that provides for the sale of the Bank’s branch office building
      located at 1353-1355 First Avenue, New York, New York (the “Property”) to the
      Purchaser. The Bank’s plans to sell the Property were previously disclosed in
      the Company’s registration statement on Form S-1 filed with the Securities and
      Exchange Commission on March 17, 2006, in connection with the Company’s initial
      stock offering.





The
      purchase price for the Property is $28 million. Under the terms of the
      Agreement, the Bank will receive $10 million in cash at closing and the
      remaining $18 million will be paid in two equal installments of $9 million
      on
      each of the first and second anniversary of the date of the closing pursuant
      to
      a Promissory Note secured by a Purchase Money Real Estate Mortgage, Assignment
      and Security Agreement (the “Security Agreement”). The Agreement is subject to
      numerous customary undertakings, covenants, obligations and conditions,
      including a purchaser’s due diligence period which expires on February 11, 2007
      (the “Due Diligence Period”). Concurrently with the execution of the Agreement,
      the Purchaser deposited $200,000 with an escrow agent, which deposit is
      refundable if the Purchaser terminates the Agreement for any reason prior to
      the
      expiration of the Due Diligence Period. Upon termination of the Due Diligence
      Period, the Purchaser will deposit an additional $800,000 with the escrow agent.
      The sale of the Property is expected to be completed in April 2007.





In
      connection with the sale of the Property, the Bank will enter into a 99 year
      lease to enable the Bank to retain a branch office at 1355 First Avenue. In
      anticipation of the sale, and the renovation of the building by its new owner,
      the Bank has temporarily relocated its branch office to 1470 First Avenue,
      New
      York, New York.





The
      Company’s Press Release dated December 14, 2006, announcing the execution of the
      Agreement is included in this Report as Exhibit 99.1 and incorporated herein
      by
      reference. Copies of the Agreement, the Form of Promissory Note and the Form
      of
      Security Agreement are included in this Report as Exhibits 10.1 through 10.3,
      respectively, and are incorporated herein by reference. The foregoing
      description of the Agreement does not purport to be complete and is qualified
      in
      its entirety by reference to the Agreement.





**Item
      9.01**  **Financial
      Statements and Exhibits** **.**




(d)
            ExhibitsNumber
            
            Description10.1
            
            Agreement
                of Sale, dated December 13, 2006, between Northeast Community Bank
                and MJ
                1353-1355 First Avenue, LLC10.2
            
            Form
                of Promissory Note10.3
            
            Form
                of Purchase Money Real Estate Mortgage, Assignment and Security
                Agreement99.1
            
            Press
                Release dated December 14,
                2006








**SIGNATURES**





Pursuant

      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.





NORTHEAST
              COMMUNITY BANCORP, INC.(Registrant)Date:
                December 18, 2006
            By:
            /s/
                Kenneth A. MartinekKenneth
                A. MartinekPresident
                and Chief Executive Officer