City’s biggest hospital system in talks for $300M UES buy

The Third Avenue properties are owned by the Glick family

New York /
Sep.September 07, 2017 06:00 PM

Northwell Health, the city’s biggest hospital system, is in talks to buy residential and retail properties along Third Avenue on the Upper East Side for nearly $300 million.

The company, which owns 18 hospitals, could knock down the properties — which are located between East 76th and 77th streets and owned by the Glick family — and build a 250,000-square-foot building, Crain’s reported. It’s not clear if Northwell plans to do that.

The office of the family-owned Mautner-Glick is located at 1345 Third Avenue, one of the buildings in the Glicks’ portfolio.

If the deal goes through at the price that’s being negotiated, Northwell would pay nearly $1,200 per square foot. The parcels are a block away from one of the company’s other hospitals, Lenox Hill Hospital.

Last month, Memorial Sloan Kettering Cancer Center signed a 48-year lease to fully occupy a 100,000-square-foot building at 330 East 62nd Street. [Crain’s] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Pandemic could cut assessed property values by 10%
Pandemic could cut assessed property values by 10%
Pandemic could cut assessed property values by 10%
Lexington Hotel at 511 Lexington Avenue (Google Maps)
NYC hotels getting busier, but still struggling
NYC hotels getting busier, but still struggling
Illustration of Sam Zell of Equity Commonwealth (right) and Barry Sternlicht of Starwood (Illustration by Kevin Rebong for The Real Deal)
Monmouth Real Estate: We’ll sell to Zell, not Sternlicht
Monmouth Real Estate: We’ll sell to Zell, not Sternlicht
Instacart CEO Apoorva Mehta (Getty)
Instacart to build fulfillment centers near supermarkets
Instacart to build fulfillment centers near supermarkets
Blackstone eyes return to hotel business as real estate fuels strong Q2
Blackstone eyes return to hotel business as real estate fuels strong Q2
Blackstone eyes return to hotel business as real estate fuels strong Q2
A rendering of 19 Hausman Street (M Development)
Nightmare darkens for largest Brooklyn condo project of 2019
Nightmare darkens for largest Brooklyn condo project of 2019
Andrew Farkas of Island Capital and 511 Lexington Avenue (Island Capital, Google Maps)
Farkas buys Lexington Ave hotel for $185M
Farkas buys Lexington Ave hotel for $185M
M&T Bank reports late-stage delinquent loans more than doubled in past year
M&T Bank reports late-stage delinquent loans more than doubled in past year
M&T Bank reports late-stage delinquent loans more than doubled in past year
arrow_forward_ios

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

Loading...