Hospital leases entire UES development

Medical center Memorial Sloan Kettering deal includes buy-option

New York /
Aug.August 30, 2017 08:33 AM

Memorial Sloan Kettering Cancer Center signed a 48-year lease for Joy Construction and Maddd Equities’ medical development at 330 East 62nd Street.

The deal, which covers the entire 100,000-square-foot building, also includes an option to buy the property, the New York Post reported. The lease’s value is reportedly $86 million.

Joy and Maddd bought the site for $21 million in 2014, according to property records, and tapped Karl Fischer Architects to design the building. Newmark Knight Frank brokered the lease.

Last year, Memorial Sloan Kettering expanded by 69,000 square feet at another location, 1 Dag Hammarskjold Plaza. [NYP] — Konrad Putzier


Related Articles

arrow_forward_ios
Steve Roth and renderings of 260 11th Avenue (Getty, Profile New York)
Vornado lays out vision for Otis Elevator Building complex
Vornado lays out vision for Otis Elevator Building complex
From left: Arch Companies' Jeff Simpson and Hello Living's Eli Karp along with a rendering of 1580 Nostrand Avenue (Getty Images, Arch Companies, Hello Living)
Eli Karp’s Hello Living says goodbye to Flatbush project
Eli Karp’s Hello Living says goodbye to Flatbush project
A photo illustration of Daniel Brodsky and 75 West End Avenue (Getty Images, Google Maps)
Brodsky brings challenge to NYC Airbnb law
Brodsky brings challenge to NYC Airbnb law
(Illustration by The Real Deal with Getty)
How illegal Airbnbs slip through the cracks
How illegal Airbnbs slip through the cracks
FSA Capital’s Benjamin Clyburn and 133-09 37th Avenue in Flushing (Google Maps, Breaking Ground, Getty)
Brian Pun’s FSA Capital plans 173K sf project in Flushing
Brian Pun’s FSA Capital plans 173K sf project in Flushing
Brookfield Properties’ Brian Kingston with Two Manhattan West (Brookfield Properties, Getty)
Hedge fund finds 283K sf at Two Manhattan West
Hedge fund finds 283K sf at Two Manhattan West
Savills' Nick Farmakis with 655 and 767 Third Avenue (Loopnet, Getty, Savills)
Third Avenue: The land of “leave-behind”
Third Avenue: The land of “leave-behind”
(Getty)
Zoning, infrastructure limits are squeezing US land supply
Zoning, infrastructure limits are squeezing US land supply
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...