No appointment needed: Institute for Family Health sells Union Square medical office

Nonprofit put the property on the market in 2016

New York /
Feb.February 15, 2018 01:30 PM

The Institute for Family Health sold its Union Square location for $39.5 million.

Gramercy Park Real Estate LLC, whose manager is listed as Michael Horrigan, is the buyer of the six-floor, 37,000-square-foot medical office building at 14-16 East 16th Street, property records show.

The Institute did not immediately respond to a request for comment. It first put the property, which sits between Union Square West and Fifth Avenue, on the market in June 2016 with a price tag of $50 to $60 million.

The building was constructed in 1889, and its zoning indicates that it has 34,000 square feet of unused development rights available.


Related Articles

arrow_forward_ios
Robert Roche, Ben Kohn and Adam Hochfelder (Getty, WikiMedia / Roche)
Entity linked to shuttered Playboy Club New York files for bankruptcy
Entity linked to shuttered Playboy Club New York files for bankruptcy
With major financial choices to make, Newmark receives $850M infusion
With major financial choices to make, Newmark receives $850M infusion
With major financial choices to make, Newmark receives $850M infusion
NYC’s office sublease surge slows as tenants move to reoccupy space
NYC’s office sublease surge slows as tenants move to reoccupy space
NYC’s office sublease surge slows as tenants move to reoccupy space
The Roger New York hotel at 131 Madison Avenue, Larry Korman of AKA Hotel Residences and Joe Lubeck of Electra America (Google Maps, Getty, Electra)
Electra America JV nabs Roger hotel for $71M discount
Electra America JV nabs Roger hotel for $71M discount
Oceanwide’s US business is sinking. Can it right the ship?
Oceanwide’s US business is sinking. Can it right the ship?
Oceanwide’s US business is sinking. Can it right the ship?
Demir Sabanci and 41-47 West 57th Street (Sedesco, Google Maps)
Sedesco seeks rezoning for new Billionaires’ Row skyscraper
Sedesco seeks rezoning for new Billionaires’ Row skyscraper
From left: Alvin Dworman, 155 East 55th Street, 65 West 55th Street, and 210 East 58th Street (Getty, Google Maps)
Alvin Dworman Sells 3 Manhattan Buildings for $65M
Alvin Dworman Sells 3 Manhattan Buildings for $65M
Anita Durst and images of Chashama (Photos via Getty, Chashama)
Durst-backed nonprofit puts startups into empty storefronts
Durst-backed nonprofit puts startups into empty storefronts
arrow_forward_ios

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

Loading...