New York-Presbyterian has signed a ten,189-square-foot long-term lease with proprietor Simone Growth Cos. at a 60,000-square-foot medical workplace constructing in The Bronx, N.Y. The owner was self-represented in direct negotiation with the brand new tenant.
The three-story Class B medical workplace constructing is at 2510 Westchester Ave. and options an on-site parking storage. The present proprietor purchased the 1972-built asset in 2009 for $5.5 million, in accordance with CommercialEdge data. The property turned topic to a $11 million everlasting mortgage in 2016, supplied by Flagstar Financial institution.
READ ALSO: Getting within the Heads of MOB Tenants
The tenant roster additionally consists of Bronx Wellness Heart, Limitless Care Inc., Bronx Westchester Medical Group and Superior Urology Facilities of New York, amongst others., in accordance with CommercialEdge information. The tenants cowl a number of specialties throughout various healthcare fields, resembling sports activities medication, orthopedics, bodily and chiropractic remedy or behavioral well being.
The 1-acre medical workplace asset is inside the Westchester Village neighborhood, near Westchester Sq. Station. The property is 10 miles from LaGuardia Airport, 13 miles from Midtown Manhattan and inside 19 miles of John F. Kennedy Worldwide Airport.
Current actions within the MOB sector
Earlier this month, Lincoln Property Co. shaped a three way partnership with companions Blue Arch Capital and LoanCore Capital to personal and function Park Sixty, a Class A medical workplace constructing in Manhattan. The 15-story constructing consists of 179,000 sq. toes of medical workplace house and seven,000 sq. toes of retail.
In July, Healthcare Realty Belief Inc. expanded its three way partnership with Nuveen Actual Property to $400 million in belongings. The corporate is contributing with eight properties valued at $193 million, whereas Nuveen will fund 80 % of that fairness worth. HRT generated $400 million of proceeds thus far in 2024 and expects to extend these good points to greater than $1 billion.
