Simone Healthcare Development Group, a division of Simone Development Companies, announced this week that it has acquired the Park Avenue Medical Arts Center in New York for $11.5 million. S&H 88th Street Associates sold the property with representation from Corcoran Wexler Healthcare Properties’ Paul Wexler and Edward Midgley, Timothy Sheehan and Daniel Kaplan of CBRE, with Wexler also representing Simone in the deal.
"Simone Healthcare Development is happy to announce the acquisition of this prime Upper East Side location as we continue to expand our medical office space portfolio throughout the greater New York metropolitan area," said Joseph Kelleher, president of Simone Healthcare Development. "Simone Healthcare excels at creating state-of-the-art medical facilities for our own portfolio and in partnership with leading healthcare providers."
"Large blocks of medical space are hard to come by on the Upper East Side," said Paul Wexler, President of Corcoran Wexler. "The new owner will be renovating the space and retrofitting offices for the specific needs of new medical tenants. The space can be divided into a variety of different unit configurations. This provides a unique opportunity for doctors to obtain coveted large renovated spaces, in a luxury building in a prime Upper East Side location."
Located at 62 E. 88th Street, the Park Avenue Medical Arts Center is a commercial condominium, with a private entrance from residences. Developed in 1986, the 15-story building contains 18 residential units plus the medical condominium space. Corcoran Wexler has been retained as exclusive leasing agent for the medical space by the new owner.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment